“2014 has been a very important year for Luxottica, a year marked by significant change while confirming the success of the Group’s strategy.”
— Leonardo Del Vecchio
2014 has been a very important year for Luxottica, a year marked by significant change while confirming the success of the Group’s strategy.
The transformation, which has taken place with the introduction of new leadership and a stronger and increasingly flexible governance structure, further orients us towards growth in new markets and product and technological innovations.
At the same time, the Group re-confirmed its strategic plan which was based on solid organic growth as well as select acquisitions. In addition, our two historic pillars remain unchanged: leadership in all markets and excellence in design and production.
This year, Luxottica once again proved its ability to merge tradition with innovation. In all aspects of the business we continued to embrace the future without forgetting our roots. I have taken part in Luxottica’s recent activities in order to facilitate the changes which are currently taking place and support the new and exciting direction of the Group alongside its new leadership.
Results for the 2014 fiscal year were extraordinary with record revenue and profitability. Luxottica reported over Euro 7.6 billion in sales, Euro 642.6 million in net income and generated record cash flow of over Euro 800 million.
Due to these strong results, which were achieved in a difficult macroeconomic environment, Luxottica will pay a special dividend of Euro 0.72, bringing the total dividend to Euro 1.44 per share.
The opportunities for market expansion and innovation have filled Luxotticans with renewed energy and enthusiasm. This is evident everywhere, from our new office in Milan to the Sunglass Hut flagship store in New York’s Times Square, the soon to be opened Ray-Ban store in New York and throughout our manufacturing facilities in China and Brazil.
This is truly a great time for the Group. We’re celebrating several historic milestones this year, including the 25th anniversary of our NYSE listing, the 15th anniversary of our listing on Borsa Italiana and 20 years in retail since acquiring LensCrafters.
This is just the beginning ... we still have many more goals to achieve. In 2015, we will continue to grow our Wholesale segment, accelerate growth within our Retail chains and increase our investments in e-commerce.
Our brands will continue to play a fundamental role in our growth strategy. Oakley, Ray-Ban, Vogue, Persol, Oliver Peoples and Alain Mikli are proving their strength and developing strong synergies with our licensed brands. The extraordinary debut of the first Michael Kors collection produced by Luxottica proves that there is still ample room for growth.
As our business has grown so has our commitment to social responsibility. We are extremely proud of the work we’ve done to support our nonprofit organization, OneSight, which has helped over 9 million people in 41 countries since its inception. In 2014, OneSight improved the quality of life for thousands of people in The Gambia and our commitment to this cause will continue to be an integral part of our mission.
— Leonardo Del Vecchio