EssilorLuxottica witnessed a remarkable financial surge, reporting a 7.3% revenue increase in the first half of 2024, powered by innovative smart glasses technology and robust direct-to-consumer sales strategies. The Franco-Italian eyewear powerhouse posted impressive financial results, with total revenue reaching €14.02 billion at constant exchange rates.
The company’s strategic focus on technological innovation has been a key driver of its success. Sales of Ray-Ban Meta smart glasses experienced an extraordinary 200% year-over-year growth, highlighting the company’s leadership in wearable technology.
Key performance highlights include:
• Operating profit of €2.53 billion
• Adjusted operating margin steady at 18.3%
• Direct-to-consumer revenue increased by 10.2%
• Successful launch of Oakley Meta Performance smart glasses
Regional performance was particularly strong, with the EMEA region leading growth at 9.5% revenue increase. North America demonstrated robust performance, while Asia-Pacific and Latin America contributed significantly to the company’s overall gains.
Chairman and CEO Francesco Milleri and Deputy CEO Paul du Saillant emphasized the strategic importance of their recent technological innovations, stating, “The success of Ray-Ban Meta, the launch of Oakley Meta, and the positive response to Nuance Audio are major milestones for us in this new frontier.”
The company’s Nuance Audio technology has already been deployed in 10,000 retail locations across North America and Europe, demonstrating rapid market penetration and technological adoption.
Financial analysts at Morgan Stanley described the results as “reassuring” and “close to in-line” with consensus forecasts, noting the “pleasingly robust” performance and ongoing growth initiatives in smart glasses, audio technology, myopia management, and diagnostic solutions.
