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EssilorLuxottica Hits Record High After Meta AI Glasses Help Drive Sales Beat
EssilorLuxottica's smart glasses sales grew 11.7% year-over-year, led by Meta partnership products including Ray-Ban Meta Gen 2 and Oakley Meta HSTN glasses.
- On Thursday, EssilorLuxottica said its third-quarter sales rose 11.7% to 6.9 billion euros, boosted by its partnership with Meta and Ray-Ban Meta products.
- The 2019 agreement between Meta and Luxottica produced Ray-Ban Meta smart glasses, with new $799 Meta Ray-Ban Display and Gen 2 models revealed at the Meta Connect event on Wednesday.
- CFO Stefano Grassi said `Clearly there is a lift coming from Ray-Ban Meta wearables as a product category` and reported that wearables contributed more than 4 percentage points of growth, adding `We believe that glasses will be the future` and the business is profitable.
- Shares rose 2.4% on Thursday after EssilorLuxottica said North America sales growth was driven by Ray-Ban Meta wearables, with recent launches including the $499 Oakley Meta Vanguard and $379 Ray-Ban Meta .
- Rival tech firms are also developing smart glasses, including Apple and OpenAI, while Alphabet’s Warby Parker partnership and Alibaba’s launches expand AI eyewear competition.
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EssilorLuxottica hits record high after Meta AI glasses help drive sales beat
Shares in Ray-Ban maker EssilorLuxottica hit an all-time high on Friday, surging over 10 per cent after the eyewear giant's record quarter showed sales of its Ray-Ban Meta smart glasses gaining momentum.The Franco-Italian group reported on Thursday third-quarter sales growth of 11.7 per cent from a year ago t
·Singapore
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Total News Sources16
Leaning Left4Leaning Right1Center2Last UpdatedBias Distribution57% Left
Bias Distribution
- 57% of the sources lean Left
57% Left
L 57%
C 29%
14%
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