To see the
beauty of life
This is the vision that inspires Luxottica’s sustainable business approach and is an integral part of the Group’s strategy. It stems from a notion of universal beauty that comes to life at the intersection of personal well-being, respect for the environment, ethics and the transparency of relations.
Luxottica has always been committed to making the best glasses possible - innovative design, exceptional quality and cutting-edge processing methods – to enable people to enjoy the beauty of life in all its forms:
- The beauty of the world that surrounds us: to understand, protect and enhance
- The beauty of looking ahead and seeing a better future
- The beauty of defining one’s personal style in a creative and informed way; the beauty of eyewear designed for both seeing and seeing ourselves in the best possible light
Sustainability in its wider meaning - environmental, social, economic - is a principle which is deeply rooted in Luxottica’s story and one that has evolved over the years to become part of the fabric of the Company.
The Group’s distinctive, vertically integrated business model enables Luxottica to oversee the entire value chain. This guaranteed control of all phases - from design to distribution - also enables it to closely oversee environmental issues, health and safety and human rights along the value chain and, ultimately, to adopt socially responsible practices. Luxottica’s business approach and the quality and excellence of its products and services are strongly linked to the promotion of sustainable development, with particular reference to environmental protection and its connection with the social contexts in which it operates.
This strategy is carried out in the most immediate and effective way by the Code of Ethics in which all the principles and fundamental values that inspire Luxottica’s way of doing business come to life. Because of its relevance, the Code of Ethics applies to all brands, businesses and geographies of the Group and must be adopted by all the stakeholders that have a direct relationship with Luxottica including employees, partners and suppliers.
The environment is another key element in Luxottica’s vision of Sustainability. The Company was founded close to what is today the National Park of the Belluno Dolomites. The affinity and the respect for this territory, which is a UNESCO World heritage site because of its beauty and universal value, are deeply rooted in the DNA of the Company and these values have grown together with the Group. The commitment and motivation to protect the resources and landscape by minimizing the impact of the activities on the environment comes from long ago. And it inspires everyday actions and sustainable choices in every country where the Group operates.
The Group’s approach, consistently pragmatic and committed to excellence without compromise, has defined the Company’s Sustainability’s objectives, which go far beyond what is required by Italian and European standards. The Group took inspiration from two most recent experiences: the 2030 UN Agenda establishing the objectives for sustainable development to be reached by 2030 and, for the environment specifically, the Paris Conference on Climate (COP21) defining a global action plan to avoid threatening climate changes by limiting the overall global warming way below 2°C.
Luxottica’s vision of sustainability is founded on four pillars that correspond to specific commitments, concrete actions and increasingly challenging goals for the Group.
Sustainability in its wider meaning - environmental, social, economic – is indeed a principle that has deep roots in the Luxottica story, becoming part of the Company culture over the years and permeating the entire value chain.
The content of the 2018 Non-financial statement was identified and chosen by way of a materiality analysis that helped establish the priority environmental and social issues for the Group and its stakeholders.
The first materiality analysis, carried out between 2016 and 2017, was internal. The involvement of the top management in a direct discussion on the socio-environmental impact of the Group’s activities proved to be very important in defining the sustainability strategy, never before communicated externally up to that point, and in identifying its key aspects for the purposes of non-financial reporting. Luxottica’s sustainability vision, “To see the beauty of life”, and its pillars are a natural reflection of the thoughts and ideas that surfaced during the conversations.
In 2018, Luxottica introduced two new elements: the identification of risks with potential environmental, health and safety, social and reputational impact during the Risk assessment process carried out by the Risk Management & Compliance department, and the direct consultation of the Group’s internal and external stakeholders with an online questionnaire.
The combination of the risk assessment process and the direct consultation of stakeholders, together with a structured process of analyzing internal and external information sources, made it possible to verify the validity of the material issues previously identified and discussed in the 2017 Non-financial statement. This also allowed the Company to focus the sustainability strategy and the reporting of relative performances on the topics that Luxottica’s main stakeholders deemed to be the most relevant (the “material topics”).
The results of the materiality analysis are summarized in the matrix below, which reports the topics regarded as material, and therefore of priority importance for Luxottica and its stakeholders.
The vertical axis denotes the level of priority that external stakeholders give to the various topics,
i.e. the issues that significantly influence their evaluations and decisions. The horizontal axis represents the degree of importance that internal stakeholders attribute to these topics as regards the Group’s ability to create value over time.
The materiality matrix therefore defines the key and necessary information of this non-financial disclosure and confirms the Sustainable Development Goals (SDGs), which the Group believes it can help achieve through its way of doing business.
Commitment to excellence
Luxottica’s continuous quest for excellence, its ability to reinvent itself and innovate are part of the company’s story and characteristic of its business approach. This commitment can be seen everywhere and it shapes Luxottica’s long-term goals and success. It is a reflection of the Group’s untiring desire to keep evolving and improving while staying faithful to its principles.
Luxottica promotes the well-being and health of the eyes through the excellence of its products and its world-class customer service in stores and online. High quality glasses and lenses, the result of continuous design, material and technology innovations, are complemented by the cutting-edge ophthalmic treatments and eye exams available in the Group’s over 5,100 optical retail stores around the world.
Since the outset Luxottica has stood out for being a socially responsible company, ready to respond with innovative solutions to the emergence of new standards and requirements and the interests of its communities and employees. This is a role it will play in an increasingly insightful manner to promote well-being and social equality in the countries where it operates, as well as the professional and personal growth, health and safety of its employees.
Protecting the environment
Luxottica’s desire to preserve and protect natural resources and landscape, reducing the impact of its activities on the environment, is rooted in the company’s bond with the communities where it operates. Since the construction of its first building in Agordo among the Belluno Dolomites, now a National Park, Luxottica has made preservation an important responsibility that involves the entire organization and guides sustainable actions and decisions throughout the year.
Luxottica began its non-financial reporting process in 2016, with the dual goal of beginning to communicate its sustainability initiatives and their results in a transparent and systematic way, and of laying the foundations for its compliance with the legal obligations outlined in Italian Legislative Decree 254/2016. This Consolidated non-financial statement was made in follow-up to the 2017 disclosure, the first year this document was published. Its content was identified and chosen by way of a materiality analysis that helped establish the priority environmental and social issues for the Group and its stakeholders.