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EssilorLuxottica saw its turnover grow to 26.5 billion euros in 2024, in line with expectations. The collaboration with Meta (Facebook) for a line of smart glasses was a significant growth driver for the French-Italian eyewear manufacturer.
Almost 10 % growth
EssilorLuxottica performed in line with expectations last year: fourth-quarter revenue increased by 9.2 % to 6.78 billion euros, bringing annual sales to 26.5 billion euros. Adjusted operating profit rose by 9.4 % to 4.4 billion euros. This allows the company to maintain its goals for 2026, aiming for annual revenue growth of around 5 % and an adjusted operating profit margin of 19 to 20 % — an increase from the current 17 %.
Smart glasses are a main driver for growth: since the launch of the collaboration with Meta in September 2023, more than two million units of the Ray-Ban Meta smart glasses have already been sold. The glasses feature a built-in camera and earbuds, allowing users to take photos, record videos, make (video) calls and listen to music. The latest version also includes an integrated AI assistant.
To meet the growing demand, EssilorLuxottica plans to expand production capacity in China and Southeast Asia, aiming to produce ten million smart glasses annually by the end of 2026. In addition to the partnership with Meta, the eyewear maker is exploring the possibility of extending the technology to other brands and functions, potentially through subscription services.
