Sunglass Hut's volume was off 10% in the December quarter from the year before.
Sunglass Hut's volume was off an estimated 10% in the December quarter from the year before.
Headed by James Jannard, an American billionaire, Oakley was Sunglass Hut's biggest brand, representing 25% of sales.
Headed by U.S. billionaire James Jannard , Oakley was Sunglass Hut's biggest brand, representing 25% of sales.
But Oakley needs Sunglass Hut even more: Since the dispute began last summer, profits have fallen 36%.
This was followed in 2001 by the acquisition of Sunglass Hut, the world's leading retailer of sunglasses.
The seller is Dean Ziff, a private investor whose family founded and owned Sunglass Hut retail stores.
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Just before the injunction, Jannard sent his number two to Milan, once again pushing to have Sunglass Hut stock Oakleys.
It also makes glasses for fashion houses like Chanel and runs outlets that include LensCrafters, Sunglass Hut and Pearle Vision.
Just before the injunction, Jannard sent his second in command to Milan, once again pushing to have Sunglass Hut stock Oakleys.
But Oakley needs Sunglass Hut even more than Sunglass Hut needs it: Since the dispute began, its profits have fallen 36%.
Since Sunglass Hut, for all its ills, remained the largest sunglass retailer, it was in a position to push manufacturers around.
Within weeks of buying the U.S. retailer Sunglass Hut in April, the chairman of Luxottica demanded price cuts from the chain's suppliers.
Two-thirds of Sunglass Hut's corporate staff is gone, and so is its Miami home office, which was merged with LensCrafters' Cincinnati headquarters.
Sunglass Hut hung 5-foot-by-7-foot Ralph Lauren banners in its stores and beefed up inventory of Lauren products by an initial 50% before the promotion got under way.
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