Luxottica closes the acquisition of a 40 percent participation in Multiopticas Internacional
Milan, Italy – July 16, 2009 – Luxottica Group S.p.A. (MTA: LUX; NYSE: LUX), a leader in the designing, manufacturing and distribution of fashion, luxury and sports eyewear, announces the closing today of its acquisition of a 40 percent participation in Multiopticas Internacional S.L. – previously announced on May 27.
This transaction, which is worth approximately Euro 40 million, marks Luxottica’s entry into the retail business in South America, a region with excellent growth potential and where the Group already has a solid presence through its wholesale network.
About Luxottica Group S.p.A.
Luxottica Group is a leader in premium fashion, luxury and sports eyewear, with over 6,150 optical and sun retail stores in North America, Asia-Pacific, China, South Africa and Europe and a strong and well balanced brand portfolio. Luxottica’s key house brands include Ray-Ban, the best known sun eyewear brand in the world, Oakley, Vogue, Persol, Oliver Peoples, Arnette and REVO, while license brands include Bvlgari, Burberry, Chanel, Dolce & Gabbana, Donna Karan, Polo Ralph Lauren, Prada, Salvatore Ferragamo, Tiffany and Versace.
In addition to a global wholesale network covering 130 countries, the Group manages leading retail brands such as LensCrafters and Pearle Vision in North America, OPSM and Laubman & Pank in Australasia, LensCrafters in Greater China and Sunglass Hut globally. The Group’s products are designed and manufactured in six Italy-based manufacturing plants, two wholly-owned plants in China and a sports sunglass production facility in the U.S. In 2008, Luxottica Group posted consolidated net sales of €5.2 billion.
Additional information on the Group is available at www.luxottica.com.
About Multiopticas Internacional S.L.
Multiopticas Internacional was incorporated in Spain in 1987 and started that year its operations in Portugal where it became over a period of ten years the leading eyewear company in the country. In 1999 it started its operations in South America, first in Chile, followed by Peru. In 1995 it opened its business in Ecuador and a year later in Colombia.
At the present time, Opticas GMO is the market leader in all the markets where it operates, with a market share of 25% in Chile, 30% in Peru, 20% in Ecuador and 15% in Colombia. Finally GMO is the most developed and better known optical company in South America.
Safe Harbor Statement
Certain statements in this press release may constitute “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. Such statements involve risks, uncertainties and other factors that could cause actual results to differ materially from those which are anticipated.
Such risks and uncertainties include, but are not limited to, the ability to manage the effect of the poor current global economic conditions on our business, the ability to successfully acquire new businesses and integrate their operations, 2 the ability to predict future economic conditions and changes in consumer preferences,
the ability to successfully introduce and market new products, the ability to maintain an efficient distribution network, the ability to achieve and manage growth, the ability to negotiate and maintain favorable license arrangements, the availability of correction alternatives to prescription eyeglasses, fluctuations in exchange rates, as well as other political, economic and technological factors and other risks and uncertainties described in our filings with the U.S. Securities and Exchange Commission.
These forward-looking statements are made as of the date hereof, and we do not assume any obligation to update them.
Media and Investor Relations Contacts for Luxottica Group
Group Director of Corporate Communications
Tel.: +39 (02) 8633 4726
SVP of International Corporate Communications
Tel.: +1 (516) 918 3100
Group Director of Investor Relations
Tel.: +39 (02) 8633 4718