EssilorLuxottica reported a significant revenue beat for the fourth quarter, with sales climbing 18% to reach 7.6 billion euros, far exceeding analyst expectations of 11%. The performance was primarily fueled by the surging popularity of its wearable technology, with the company selling over 7 million units of Ray-Ban Meta and Oakley smart glasses in 2024. Analysts attribute this success to the practical design and competitive pricing of the Meta-branded glasses compared to high-end headsets like Apple's Vision Pro. This consumer shift led to a 200% year-over-year increase in related app downloads, highlighting a successful pivot into the tech-integrated luxury market. Meta Platforms currently holds a nearly 3% stake in the eyewear giant, a strategic investment valued at approximately $3.5 billion. This robust growth underscores EssilorLuxottica's dominant position in the evolving wearable technology landscape.
Get AI-powered deep analysis for every story with a paid subscription
Upgrade for Analysis