Ray-Ban Meta Smart Glasses Sales Double, Boosting EssilorLuxottica's Revenue 7.3%

EssilorLuxottica, a global leader in eyewear, has reported a significant surge in revenue from its Ray-Ban Meta smart glasses, which have seen a more than twofold increase in sales compared to the same period last year. This success has contributed to the company's overall strong performance in the first half of the year, with total sales reaching 140.2 billion euros, marking a 7.3% year-over-year growth.

The company's leadership highlighted the transformative potential of smart glasses, stating that the success of Ray-Ban Meta and the launch of Oakley Meta smart glasses are important milestones in their journey towards integrating artificial intelligence, sensor technology, and data-rich medical infrastructure into eyewear. This integration aims to empower users and unlock their full potential.

EssilorLuxottica's strategic investments in the smart glasses market have yielded substantial results. The company has launched the Nuance Audio series, which enhances hearing capabilities, and collaborated with Meta to introduce the Oakley Meta series, extending its reach into the sports eyewear segment. These moves, while increasing costs, have significantly boosted sales, particularly for the Ray-Ban Meta smart glasses, which have seen their sales more than double in the first half of the year.

The company's strategic investments in medical technology are also paying off. EssilorLuxottica has been actively acquiring assets in this sector, including the recent agreement to purchase assets from PUcore in South Korea for the development of single-use materials for contact lenses. Additionally, the company has agreed to acquire Optegra, a European eye care group operating over 70 eye hospitals and clinics, further solidifying its position in the medical technology field.

Looking ahead, EssilorLuxottica has reaffirmed its mid-term outlook, aiming for an annual revenue growth rate of 4% to 6% and maintaining an operating profit margin of 19% to 20% of revenue by 2026. The company's focus on innovation and strategic acquisitions positions it well to continue its growth trajectory in the eyewear and medical technology sectors.