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Thread: Luxottica getting ready to buy............

  1. #1
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    Confused Luxottica getting ready to buy............

    Fresh from 2/28/2014
    Article from MSN MONEY

    * Company aims to sign new licence to start Jan. 2015 * Confident that growth and acquisitions will continue - CEO * Q4 net profit missed estimates on one-off tax provision MILAN, Feb 28 (Reuters) - Ray Ban sunglasses maker Luxottica expects to sign a new eyewear licence worth at least $100 million in sales starting next year, its chief executive said on Friday. "We will strengthen the licence portfolio in the next weeks or months...the new licence that probably will come on board will start in January 2015," Andrea Guerra said. "The licence is at least 100 million dollars," Guerra said at an investor day in Milan broadcast on the group's website. He did not say with whom the licence agreement would be. Luxottica generates most of its sales from its own brands including Ray Ban and Oakley, and also makes and distributes eyewear under licence for fashion labels Chanel and Armani. Guerra told Reuters on Thursday the group expects to make at least 160 million euros from the Armani licence in 2014. Asked about possible acquisitions by an attendee at the investor day, Guerra said: "We are pretty confident that our combination of organic growth and acquisitions will continue." The company bought U.S. online optical showroom glasses.com earlier this year. An analyst suggested it might now be looking to acquire Hawaii-based sunglasses maker Maui Jim or Danish eyewear manufacturer Lindberg. On Thursday, Luxottica posted fourth-quarter net profit that missed analyst expectations, due to a tax provision on transfer pricing, but full-year revenue was in line with expectations and analysts were sanguine about the results. "Although such a miss might result in some profit taking, it has no impact on our Luxottica 2014 estimates and valuation," Citi analysts wrote in a note, reiterating the "Buy" rating on the stock with a 45 euro target price. Shares fell 2.3 percent on Milan's bourse early on Friday but recovered losses to be quoted just 0.4 percent lower on the day at 1434 GMT, changing hands for 40.04 euros.

    Cannot take it anymore...........

  2. #2
    Master OptiBoarder OptiBoard Gold Supporter Judy Canty's Avatar
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    Maui would be no surprise, but Lindberg??????

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    Independent Problem Optiholic edKENdance's Avatar
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    Quote Originally Posted by Judy Canty View Post
    Maui would be no surprise, but Lindberg??????
    Maybe they could get a 2 for 1 deal.

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    Michael Kors...worst kept secret ever. Marchon sales force has known since Vision Expo West.

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    OptiBoardaholic kentmitchell1961's Avatar
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    Hopefully not Maui, Lindberg is fine

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    Manuf. Lens Surface Treatments
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    Not to worry................................just be prepared to know that Lux is not any different than big E. and will also soon become an online provider directly to the consumer.

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    Is Luxottica planning on leaving any high end name brands for anyone else? Doubtful.

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    Independent Problem Optiholic edKENdance's Avatar
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    Quote Originally Posted by mervinek View Post
    Is Luxottica planning on leaving any high end name brands for anyone else? Doubtful.
    IMHO anything Lux acquires becomes second rate. There are tons of other manufacturers. TONS!

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    Quote Originally Posted by edKENdance View Post
    IMHO anything Lux acquires becomes second rate. There are tons of other manufacturers. TONS!
    I understand the Lux hate but have never gotten the dislike for the product in and of itself. Ray-Ban remains my go-to line for patients I know to be abusive to their frames. They're one of the few lines in store I never see come back with any kind of irreparable damage, and that remain in usable condition for multiple years.

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    Quote Originally Posted by kentmitchell1961 View Post
    Hopefully not Maui, Lindberg is fine
    Maui and Lindeberg are not licenses.

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    OptiBoard Novice KiaABOC's Avatar
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    It's probably going to be Maui Jim. Sunglass Hut sells the Maui Jim sunwear line in all platinum, gold, and silver stores. So, buying Maui Jim makes sense.
    Lakia Renee Sellman, A.B.O.C.

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    OptiBoardaholic kentmitchell1961's Avatar
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    I like maui independent, granted lux does make some of their frames for them, but then some of the top end italian stuff is from lux plants...

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    Master OptiBoarder OptiBoard Silver Supporter Barry Santini's Avatar
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    Too cheap for MJ.

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    What's up? drk's Avatar
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    Listen to badfish. (S)he makes total sense.

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    The problem is that LUX has the names that people come in and ask for. We sell a lot of RB and a fair amount of Polo. Vesace is less $$$ than Gucci. I do feel that LUX has gotten much too large.

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    Master OptiBoarder optical24/7's Avatar
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    Who would know what designers had glasses out if WE didn't have them in our dispensaries? No Lux for me the last 20+ years.

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    Quote Originally Posted by optical24/7 View Post
    Who would know what designers had glasses out if WE didn't have them in our dispensaries? No Lux for me the last 20+ years.
    I am jealous. I personally agree with not selling the big "L," however the office where I work gives me no option. When 2 of our doctors' wives bought frames at another dispensary in town, they decided we have to bump up our Luxottica products. So... we will have almost all their lines. I really feel stuck, since I love working here, but have to support the big "L." What else can I do but smile and sell?

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    OptiBoard Apprentice mauirob's Avatar
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    Yeah... It ain't happenin'. :)

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    OptiBoard Apprentice mauirob's Avatar
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    Aloha Judy! Just FYI, we're not for sale. Still independently owned & operated. Thank you Walter!

  20. #20
    OptiBoard Apprentice mauirob's Avatar
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    It might make sense, but it's not happening. Lux is our biggest customer AND our biggest competitor. That being said, Maui Jim is STILL independently owned & operated. We are NOT for sale.

  21. #21
    OptiBoard Apprentice mauirob's Avatar
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    FYI, Lux does NOT make any product for us. Aloha!

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    OptiBoard Apprentice mauirob's Avatar
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    EXACTLY!

  23. #23
    OptiBoard Apprentice mauirob's Avatar
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    Lux is huge. With or without your practice's support, they're going to do what they do. Might as well ride the wave.

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    Master OptiBoarder OptiBoard Gold Supporter Judy Canty's Avatar
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    Hey Rob! In 1994, LC swore up and down to all us loyal employees that it was not for sale either. As a result, I remain skeptical.

  25. #25
    OptiBoard Apprentice mauirob's Avatar
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    Quote Originally Posted by Judy Canty View Post
    Hey Rob! In 1994, LC swore up and down to all us loyal employees that it was not for sale either. As a result, I remain skeptical.
    Can't fault you there, but the powers that be, at the helm of MJ, assure us that it's just not so. That combined with the price "$100 million..." Is WAY under what we do in a year... Let's just say that the last offer from Lux was closer to $1 billion. And Walter declined. So this recent statement of Lux acquiring a brand cannot be about us. For that, I am thankful.

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