Leonardo Del Vecchio
Chairman
Shareholders,
2007 was another year of great satisfaction for our Group, a year in which we were focussed on implementation of our plans on all fronts.
Growth was achieved across the board: results were positive and our market leadership position was further strengthened over the year. Sales topped the five billion Euro mark and we embarked on a new mission with Oakley whilst maintaining excellent levels of profitability at the same time.
Our strategy continued to prove successful, being based on our unique model of integration between production and distribution and direct presence in all the world’s markets, factors which have enabled us to continue building on our well balanced brand portfolio.
2007 was also a year of major investments on both the wholesale and retail fronts. On one hand, we immediately started to integrate with Oakley, so as to see the first results come through in 1st quarter 2008; and on the other, we managed to renew nearly a quarter of our points of sale.
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