EssilorLuxottica news and archive

EssilorLuxottica mulls moving part of production to US in response to tariffs

Eyewear giant EssilorLuxottica is considering moving part of its production to the US in response to the shuffling of tariffs. In a shareholders’ meeting on April 31, attended and reported on by Reuters, the group’s chief executive officer, Francesco Milleri, expressed caution at moving too quickly on the decision, yet noted that once...

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Eyewear company EssilorLuxottica increases revenue sharply at start of year

EssilorLuxottica saw a significant increase in revenue at the start of the year. The eyewear company's revenue rose by 8.1 percent in the first quarter compared to the same period last year to 6.85 billion euros, the French-Italian company announced on Wednesday evening in Charenton-le-Pont. At constant exchange rates, growth was 7.3 percent....

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Eyewear group EssilorLuxottica increases sales and profit

Eyewear giant EssilorLuxottica exceeded expectations for operating profit last year. Adjusted operating margin, excluding non-recurring items, increased by 0.5 percentage points to 17 percent, the Franco-Italian company announced Wednesday in Charenton-le-Pont. Analysts had, on average, anticipated slightly lower figures. The group, which owns...

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EssilorLuxottica acquires AI-based hearing start-up, Pulse Audition

Eyewear group EssilorLuxottica has announced the acquisition of a French start-up dedicated to enhancing the experience of people with hearing impairments. Pulse Audition utilises artificial intelligence (AI) to enable noise reduction and voice enhancement, allowing those impacted by such impairments to better understand speech. Through the...

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Meta, Ray-Ban maker extend smart glasses partnership

Ray-Ban maker EssilorLuxottica said Tuesday that it extended a partnership with Facebook and Instagram owner Meta to develop smart-eyewear products after producing glasses that let users make calls, capture images and listen to music. The world's top eyewear maker and the US tech giant, which have been collaborating since 2019, launched the...

Fashion

EssilorLuxottica enhances sunglasses protection with Asurion Europe

Eyewear manufacturer EssilorLuxottica, which boasts a portfolio of brands, including Ray-Ban, Persol, and Oakley, has teamed up with tech care company Asurion Europe to offer sunglasses protection. The new insurance service ‘SunLove Protection Plan’ offers customers the chance to insure their new sunglasses at the point of purchase within...

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EssilorLuxottica acquires Optical Investment Group

Eyewear giant EssilorLuxottica continues to strengthen its power in the retail sector. The group that recently acquired the originally New York fashion brand Supreme is taking over the Romanian optical chain Optical Investment Group, reported by EssilorLuxottica in a press release. Optical Investment Group is one of Romania’s leading retailers....

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EssilorLuxottica H1 profit rises

French ophthalmic company EssilorLuxottica (ESLOF.PK, ESLOY.PK), Wednesday reported that its net profit attributable to owners of the parent for the first-half of fiscal year 2024 climbed to 1.746 billion euros or 2.98 euros per share from last year's 1.655 billion euros or 3.03 euros per share. Revenue for the first-half of fiscal year 2024 5.2...

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Meta reportedly eyeing stake in Ray-Ban parent company

American tech giant Meta, owner of Facebook and Instagram, reportedly wants to take a 5 percent stake in EssilorLuxottica, the Financial Times (FT) reports. The French-Italian eyewear company was worth almost 89 billion euros on Thursday afternoon. EssilorLuxottica is the firm that makes Ray-Ban eyewear and was also behind the recent acquisition...

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EssilorLuxottica's gambit: Can Supreme regain its edge?

In a surprising turn of events, eyewear behemoth EssilorLuxottica is set to acquire streetwear icon Supreme for 1.5 billion dollars, as VF Corp. retreats from its once-prized asset. This deal, coming at a substantial markdown from Supreme's previous valuation, signals a pivotal moment for the brand and the broader streetwear market. VF Corp. had...

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Supreme acquired by eyewear giant EssilorLuxottica

Eyewear giant EssilorLuxottica has acquired New York-born streetwear brand Supreme in a deal worth 1.5 billion dollars, the transaction of which will be completed by the end of 2024, a press release revealed. In May, it was already speculated that VF Corporation, the parent company of Supreme and the owner of Vans, The North Face and Timberland,...

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EssilorLuxottica to launch first Diesel eyewear collection in 2025

EssilorLuxottica and Diesel have signed a licence agreement for the design, manufacture, and worldwide distribution of Diesel eyewear. The company said in a release that the agreement will be effective immediately until December 31, 2029, with an automatic renewal option of an additional five years. The first collection under the agreement will...