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Luxottica merger with Oakley opens countless opportunities
08 Feb '08
5 min read
The combination of these strengths will enable us to create a competitive edge on a global scale, at all levels of the organization and with unlimited growth potential.
"Our common work already began last summer. Since then, the top 80 Oakley and Luxottica managers have been working together on plans for the future and we are now in the execution phase.
This process has been based from the outset on a real integration of people and cultures of our two companies before that of the businesses. This is the only way we can fully realize the extraordinary opportunity we have in front of us to change the development of our industry.
"Today we are witnessingthe creation of new market segments and lifestyles as barriers between technology, luxury and sport come down. There are now three businesses that we have in-house and with which we can consider and guide change while maintaining firm leadership in each segment.
"Our growth forecasts reflect the potential of the new Luxottica Group, for the entire period of the plan."
Europe and emerging markets are the first priorities of our plan. Throughout the integration, the entire Luxottica sales and operating infrastructure is at the disposal of Oakley, one of the most desired brands in those countries, to more than double Oakley's sales over the next three years.
The retail market, in addition to clear operating synergies coming from the combination of the Luxottica and Oakley store base, will give us the opportunity to tell the story of the Oakley brand in many more new stores, with a particular emphasis on the optical segment.
Among priorities, the plan includes important changes in the industrial and operating space, to immediately leverage all possible operational efficiencies coming from each other's strengths.
The Research & Development area in sun lenses will be an area of important focus, merging Oakley's skills with Luxottica's long tradition. Finally, the Group's new optimal logistics structure will be identified soon.
Thinking about this operation as a business development and not as a simple integration, the plan also includes other projects which further widen the Group's potential. These projects are: to strengthen retail coverage of the luxury segment in North America; to appropriately position brands such as REVO and Arnette; to encourage the development of our traditional sports brands and strengthening global operating infrastructure for Oliver Peoples, a luxury Californian brand desired globally.
"We have merged the strengths of two winning companies," concluded Mr. Guerra. "Business planning has concluded and has already entered its execution phase. Now, with our characteristics of speed, entrepreneurship, simplicity and passion, we have to continue striving to meet current and future needs of our customers from a global perspective."
"Our common work already began last summer. Since then, the top 80 Oakley and Luxottica managers have been working together on plans for the future and we are now in the execution phase.
This process has been based from the outset on a real integration of people and cultures of our two companies before that of the businesses. This is the only way we can fully realize the extraordinary opportunity we have in front of us to change the development of our industry.
"Today we are witnessingthe creation of new market segments and lifestyles as barriers between technology, luxury and sport come down. There are now three businesses that we have in-house and with which we can consider and guide change while maintaining firm leadership in each segment.
"Our growth forecasts reflect the potential of the new Luxottica Group, for the entire period of the plan."
Europe and emerging markets are the first priorities of our plan. Throughout the integration, the entire Luxottica sales and operating infrastructure is at the disposal of Oakley, one of the most desired brands in those countries, to more than double Oakley's sales over the next three years.
The retail market, in addition to clear operating synergies coming from the combination of the Luxottica and Oakley store base, will give us the opportunity to tell the story of the Oakley brand in many more new stores, with a particular emphasis on the optical segment.
Among priorities, the plan includes important changes in the industrial and operating space, to immediately leverage all possible operational efficiencies coming from each other's strengths.
The Research & Development area in sun lenses will be an area of important focus, merging Oakley's skills with Luxottica's long tradition. Finally, the Group's new optimal logistics structure will be identified soon.
Thinking about this operation as a business development and not as a simple integration, the plan also includes other projects which further widen the Group's potential. These projects are: to strengthen retail coverage of the luxury segment in North America; to appropriately position brands such as REVO and Arnette; to encourage the development of our traditional sports brands and strengthening global operating infrastructure for Oliver Peoples, a luxury Californian brand desired globally.
"We have merged the strengths of two winning companies," concluded Mr. Guerra. "Business planning has concluded and has already entered its execution phase. Now, with our characteristics of speed, entrepreneurship, simplicity and passion, we have to continue striving to meet current and future needs of our customers from a global perspective."
Luxottica Group S.p.A.
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