Their stocks command an 'innovation premium.'

Essilor and Luxottica Group have landed on Forbes' new ranking of "The World's Most Innovative Companies."

Essilor is No. 68 on the list. Luxottica is No. 76.

In a press release, Essilor noted that it has appeared on the list every year since 2010.

“Essilor’s approach to innovation is all about consumer-centricity, so as to answer their current and future needs with advanced expertise,” said Laurent Vacherot, president and chief operating officer of Essilor International. “Innovation has always been a cornerstone of our strategy. We have one goal: to push back the frontiers of poor vision worldwide.”

The "World's Most Innovative Companies" list identifies the leading-edge corporations most likely to succeed now and in the future, the release explains. It is the result of an eight-year study carried out by Clayton M. Christensen, a professor of disruptive innovation at Harvard Business School, in collaboration with Jeff Dyer, professor at Brigham Young University and Hal B. Gregersen, professor of leadership at INSEAD. The rankings are based on an assessment of each company’s "innovation premium,” a quantified metric that measures the premium the stock market gives a company for expected or anticipated innovation.

Forbes notes that in order to be included, companies must have a market capitalization of at least $10 billion. They also must have at least seven years of public financial data.

According to Forbes, Essilor had 12-month sales growth of 5.94 percent and an innovation premium of 43.42 percent. 

Luxottica had 12-month sales growth of 2.82 percent and an innovation premium of 41.87 percent.

Essilor and Luxottica announced in January that they're merging to form EssilorLuxottica.

Read more at Forbes

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