EssilorLuxottica Revenue Surges 11.7% to €6.9B as Meta Smart Glasses Partnership Drives Growth
Summary
EssilorLuxottica's revenue soars 11.7% to €6.9 billion as Meta smart glasses partnership drives over 4 percentage points of growth, with CFO predicting wearables will replace smartphone functionality while Meta expands collaboration to include new Ray-Ban Display glasses and Oakley brand.
Key Points
- EssilorLuxottica reports 11.7% revenue growth to 6.9 billion euros in Q3, with over 4 percentage points of growth attributed to Meta smart glasses collaboration
- CFO Stefano Grassi predicts glasses will materially replace most smartphone functionality, calling the wearables business profitable with strong Q4 outlook
- Meta unveils new smart glasses models at Connect event including $799 Ray-Ban Display glasses and expands partnership to include Oakley and upcoming Prada brands