EssilorLuxottica Reports Revenue Growth for Q3 2023
EssilorLuxottica's revenue increased by 5.2% in the third quarter of 2023 at constant exchange rates. The company reported 7.2% growth year-to-date at constant currency.
Eyewear giant EssilorLuxottica announced on October 19, 2023, that its consolidated revenue for the third quarter of 2023 reached Euro 6,294 million. This represents a 5.2% increase compared to the same period last year, calculated at constant exchange rates. For the first nine months of the year, the company's revenue grew by 7.2% at constant currency.
The company indicated that performance in North America was consistent with the second quarter, with optical products driving growth. The EMEA region (Europe, Middle East, and Africa) showed strong results, supported by Professional Solutions and optical retail.
EssilorLuxottica also highlighted the positive reception of recent product launches, including the Varilux XR series of lenses and the Swarovski brand. Sales of Stellest eyeglasses doubled in China. The company also noted the launch of its next generation of smart glasses, Ray-Ban Meta.
Co-CEOs Francesco Milleri and Paul du Saillant stated that every business and geography within the Group contributed to the sound growth. They also emphasized a significant investment in a new manufacturing plant in Rayong, Thailand, intended to integrate frame and lens production to meet global demand.