How to Create Value
- New Perspectives on the Modern Corporation series
Chapter 13: The M & A strategies of Luxottica
Luxottica is the world leader in the eyewear business, with net sales reaching €7,652 billion in 2014 and 77,734 employees and a strong global presence worldwide. Founded by Leonardo Del Vecchio in 1961, the group is a vertically integrated organization that manufactures prescription glasses and sunglasses with a wide-reaching wholesale distribution network and a direct retail distribution network, mostly in North America, Asia-Pacific and China. Product design, development and manufacturing take place in six production facilities in Italy, representing 43% of global production output, two wholly-owned factories and one 50% owned joint venture in China with approximately another 43% of total production, two sunglasses production facilities in the USA with 10%, and a facility in Brazil with 4%. Luxottica also has a plant in India, serving the local market.
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