EssilorLuxottica Launches Share Buyback Program
EssilorLuxottica has announced the launch of its share buyback program, aiming to purchase up to 4 million shares by October 2025. The initiative reflects the company's confidence in its value creation and long-term prospects.
EssilorLuxottica announced on July 29, 2024, the commencement of its share buyback program. The group intends to acquire up to 4 million of its own shares, subject to market conditions, over a period extending from July 29, 2024, until October 29, 2025.
The repurchased shares are designated for distribution or transfer to employees and executive directors of EssilorLuxottica and its affiliated companies. These transfers are intended to support various employee incentive schemes, including profit-sharing plans, performance share awards, stock option plans, and employee share ownership plans.
The company stated that the launch of this program underscores its confidence in its capacity for value creation and its long-term outlook. The buyback aligns with the 24th resolution approved by the company's Annual General Meeting on April 30, 2024.
EssilorLuxottica is a global leader in the eyewear industry, with a portfolio that includes prominent brands like Ray-Ban and Oakley. The company operates across the entire eyewear value chain, from design and manufacturing to distribution and retail.