EssiLux, revenues grow with 'smart glasses' boost

EssilorLuxottica's revenues also grew double-digit in the first quarter of the year, with Artificial Intelligence-focused 'smart glasses' running again.

In the first quarter of the year, the group posted sales of €7,127 million, up 10.8% at constant exchange rates and 4.1% at current exchange rates. Ray-Ban's new Optics Ai glasses "are off to a strong start," says Essilux, which expects "on average over the next five years, at constant exchange rates, to achieve solid growth in total revenues, with a broadly aligned increase in adjusted operating profit.

"The third consecutive quarter of double-digit growth confirms, once again, the strength and relevance of our vision and our ability to translate strategies into concrete results," commented Francesco Milleri, president and CEO, and Paul du Saillant, deputy CEO of EssilorLuxottica. "Growth remained robust across all geographies and businesses. In an uncertain environment, we continue on our path with clarity and confidence as we continue to build the future we believe in," the group's top management concluded.

The Professional Solutions sector (with revenues up 10.8% at constant exchange rates) and Direct to Consumer (up 10.7%) are both growing in double digits, while "the traditional business is growing mid-single digit," says EssilorLuxottica. North America is up 12.5% and the Europe, Middle East and Africa region is up 9.5%, "driven by the success of AI glasses and the excellent performance of the Ray-Ban brand," the group further comments.

The performance of 'smart glasses' in recent months is the main focus of analysts' interest, even though they represent a minimal slice of the group's business at the moment.