Leonardo Del Vecchio
Chairman
To our shareholders,
2006 was a record year for Luxottica Group.
Excellent results in all key markets contributed to exceptional growth of 30% in the wholesale division. We are also very proud of our retail results, especially in North America, where sales rose nearly 8%. In 2006, consolidated net income increased 30%, which is more than twice the increase in consolidated sales.
During the course of the year, we continued to build upon the significant strengthening of our brand portfolio achieved in 2005. With record results by Ray-Ban, new license agreements with global brands Polo Ralph Lauren and Tiffany & Co., and a strong launch of the Burberry line, today the Group has a brand portfolio whose breadth and balance are matched only by the prestige of its brands.
On the retail front, we moved ahead with our investment plan to further improve our store network and better position Luxottica Group to take advantage of new growth opportunities. These investments will continue in 2007. We launched the LensCrafters brand in China with the opening of its first flagship store in Beijing and positioned it in this important market as the standard for premier eyecare and a trendsetter for luxury eyewear.
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