The Paris listed eyewear giant, co-founded by the late Italian entrepreneur Leonardo Del Vecchio, posted €6.9 billion in Q3 revenue an 11.7% increase year over year and its best quarterly performance to date. The results exceeded analyst expectations, driven by robust demand for wearable tech, particularly its smart glasses developed in partnership with Meta.
Shares of EssilorLuxottica surged 14% on Friday, reaching a record high and adding nearly €20 billion to its market capitalization, following a strong third quarter earnings report and growing investor enthusiasm for its AI powered Ray-Ban Meta smart glasses.
Though smart eyewear currently represents a small fraction of total sales, it contributed over four percentage points to quarterly growth, according to CFO Stefano Grassi. The company is now accelerating production plans to meet rising demand. Barclays analysts have called smart glasses potentially the most disruptive innovation since smartphones, projecting global sales to reach 60 million units by 2035. J.P. Morgan noted the product is now a “material growth driver,” while Equita raised its wearable revenue forecast to €1 billion for 2025.
The latest Ray-Ban Meta models, priced between $379 and $799, feature builtin displays and AI powered features. Currently available in select stores, the company plans to expand distribution to Canada, France, Italy, and the UK by early 2026. EssilorLuxottica’s stock posted its largest single-day gain since 2008, lifting its market value to €126.5 billion. The rally also boosted the Stoxx Europe Luxury 10 index by over 7% for the week its strongest performance since January.