Luxottica and Milan's Bocconi University have signed an agreement to create the Luxottica Chair in Chinese Market and Business Development, a five-year professorship. The newly created position has been awarded to Fabrizio Perretti, full professor of the Department of Management and Technology. The professorship is meant to forster better understanding of the changes that are driving the Chinese market, and the direct and indirect impact that these are having on other countries, particularly in Europe and Italy. The chair will also study the importance of local community involvement, to devise innovative approaches that take into account cultural diversity. Besides research, the wider partnership between Luxottica and Bocconi also includes annual reports, meetings, challenges and contests with the students.