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AI Glasses Power EssilorLuxottica's Q1 Surge
23 Apr
Summary
- EssilorLuxottica's Q1 revenues grew 10.8% at constant exchange rates.
- AI-enhanced eyewear, like Ray-Ban Meta collaborations, drove growth.
- North America remains the largest market with 12.5% revenue increase.
Eyewear manufacturer EssilorLuxottica announced a robust first quarter, with revenues climbing 10.8% at constant exchange rates and meeting market forecasts. The company highlighted that innovative AI glasses, developed in collaboration with Meta, were a more significant growth factor than conventional items such as sunglasses and lenses.
Total revenues reached 7.13 billion euros. North America, the largest market, experienced a 12.5% revenue increase, while other regions also demonstrated strong high-single-digit growth. Frame brands like Ray-Ban and Oakley were identified as top performers, bolstered by their AI-integrated offerings.
EssilorLuxottica confirmed its earlier outlook, projecting solid revenue growth over the next five years, with adjusted operating profit expected to grow broadly in line with revenues. This strategic direction underscores the company's consistent performance and market relevance.
