EssilorLuxottica to Enter Hearing Solutions Market
EssilorLuxottica, a global leader in eyewear, announced its expansion into the hearing solutions market with a new technology integrating hearing aids into eyeglasses. The company aims to reduce the stigma associated with traditional hearing devices.
Charenton-le-Pont, France – EssilorLuxottica, a global leader in lens technology and eyewear, announced on July 25, 2023, its strategic expansion into the hearing solutions market. The company plans to introduce a new technology that embeds hearing aids directly into stylish eyeglasses.
The initiative aims to address the needs of consumers with mild to moderate hearing loss, a market EssilorLuxottica believes is underserved due to factors such as the visibility, discomfort, and cost of traditional hearing aids. The company cited a World Health Organization report indicating an 83% service gap globally.
Leveraging its acquisition of Israeli startup Nuance, along with in-house R&D, EssilorLuxottica will develop proprietary hardware and software for the new product. The company expects the first integrated eyewear and hearing solution to launch in the second half of 2024, designed to be discreet and stylish.
EssilorLuxottica intends to distribute the new hearing solutions through a combination of traditional hearing aid channels, select optical wholesale customers, and its own retail network to ensure broad accessibility across approximately 150 countries.