(PRESS RELEASE) PARIS, FR — EssilorLuxottica announced today that consolidated revenue for the third quarter of 2025 reached Euro 6,867 million, representing a year-on-year increase of 11.7% at constant exchange rates1 compared to the third quarter of 2024 (+6.7% at current exchange rates).
Francesco Milleri, Chairman and CEO, and Paul du Saillant, Deputy CEO at EssilorLuxottica commented: “Achieving our best quarter ever since the creation of the Group, we mark a milestone that speaks to the strength of our vision and the ability of our young and strong management all over the world to deliver groundbreaking results in any market conditions. Fueled by outstanding contributions from EMEA and North America, and driven by booming wearables and strong momentum across vision care and sunglasses, these results showcase what’s possible when we lead with determination and execute with excellence.
In September, we were proud to unveil our most future-forward portfolio of AI glasses yet. With the next generations of Ray-Ban Meta and Oakley Meta glasses and with Meta Ray-Ban Display, we continue to pioneer wearable innovation and expand the boundaries of human potential. At the same time, we’re accelerating our med-tech ambitions, strengthening our leadership in myopia management with Stellest lenses, which have opened a new category in the U.S. following FDA market authorization. With Optegra eye clinics and RetinAI now part of our Group, we’re structuring our vision-health ecosystem – bringing AI-driven prevention and treatment together to empower millions of people around the world.
As we enter the fourth quarter, we carry strong momentum and a clear ambition to drive lasting transformation, shaping a future where innovation, science and human potential advance together”.
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Unless otherwise specified, the commentary in the following pages is based on revenue performance at constant exchange rates1 versus 2024.
Highlights
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Revenue growth accelerated in the third quarter, with all the regions and channels nicely progressing. The business of vision care and sunglasses grew at a healthy 5% pace at constant exchange rates1 and perimeter, powered by innovation and execution. The exponential growth of wearables provided an extra-boost to the top line performance. With the help of some strategic acquisitions, the Company has strengthened its assets and capabilities in the med-tech field.
Third-quarter revenue by segment
Professional Solutions
Professional Solutions recorded revenue of Euro 3,223 million, up 11.9% compared to the third quarter of 2024 (+6.8% at current exchange rates).
North America and EMEA were the main growth drivers in the quarter, both up double digits, while Asia-Pacific and Latin America grew mid-single digit. Among frame brands, Ray-Ban stood out as the best performing one, supported by the AIglasses category. Innovation, and myopia management solutions in particular, drove results for the lens category.
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Direct to Consumer
Direct to Consumer recorded revenue of Euro 3,644 million, up 11.6% compared to the third quarter of 2024 (+6.5% at current exchange rates).
The Direct to Consumer segment grew strongly thanks to the positive interplay of physical stores and e-commerce. Comparable-store sales3 were up by more than 7%, in acceleration from the previous quarter, driven by the North American and EMEA stores advancing decisively across optical and sun. The consumer appetite for AI-glasses remained strong and was boosted further by the presentation of the three exciting new models. AI-glasses gave a boost also to ecommerce, which rose double digits. The consolidation of Supreme gave an extra uplift to the segment revenue.
Third-quarter revenue by region
North America
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North America posted revenue of Euro 2,996 million, up 12.1% compared to the third quarter of 2024 (+5.0% at current exchange rates), in robust acceleration compared to the two previous quarters of the year, driven by both Professional Solutions and Direct to Consumer segments.
Professional Solutions experienced double-digit growth, with key accounts confirming a solid performance across all product categories and independents continuing to improve. In the lens category, Shamir and Nikon were the key drivers of the volume expansion. Following the recent FDA “de novo” approval, the Company will make Stellest available for the U.S. eyecare professionals starting from the fourth quarter this year. On the frames side, AI-glasses gained further momentum, with Oakley Meta HSTN contributing positively to the quarterly results. Among licensed brands, Miu Miu again stood out as the best performer.
The Direct to Consumer segment continued its strong performance, supported by both brick-and-mortar stores and ecommerce, as well as the consolidation of Supreme (since October 1, 2024). Comparable-store sales3 increased approximately 7%. LensCrafters continued to experience significant growth in both sales and units, driven by higher number of eye-exams and improved conversion rates. Sunglass Hut benefited from increased traffic in both international and local stores. Additionally, the AI-glasses category continued to emerge as a key growth driver for the banner, with the addition of newly launched Ray-Ban Meta Gen 2, Oakley Meta HSTN and Meta Ray-Ban Display available since September. Online sales grew significantly, boosted by AI-glasses, on Ray-Ban.com, Oakley.com and SunglassHut.com, all in marked acceleration.
EMEA
EMEA posted revenue of Euro 2,694 million, up 12.7% compared to the third quarter of 2024 (+10.7% at current exchange rates) with both segments converging to a double-digit sales trajectory, resulting in the region’s best quarter of the year.
The excellent performance in Professional Solutions stemmed from well-coordinated execution across geographies, categories and trade channels. The effective ability to translate innovation into growth was evident in the lens category, where the strong performance of Varilux Physio Extensee, Nikon Z and Transitions Gen S drove results of their respective segments, while Stellest also continued to gain traction. In frames, Ray-Ban and Oakley experienced strong growth, primarily driven by AI-glasses, while Miu Miu and Chanel emerged as the best performing licensed brands. In addition, Nuance gained further ground with customers.
In Direct to Consumer, comparable-store sales3 were up high-single digit with optical and sun banners performing equally well. In the optical category, the new strategic initiatives implemented in recent years continued to yield excellent results this quarter. The expanded number of eye exams and favorable price-mix were also supported by the thriving subscription program which continued to resonate with consumers and now counts over 2 million members, including prescription glasses and contact lenses, across 19 countries. The roll-out of Nuance continued to progress, and the product will launch in four new countries in the upcoming months (Sweden, Denmark, Switzerland and Portugal). Sunglass Hut delivered another quarter of healthy growth also building on the strong performance of Ray-Ban Meta, which has been joined by the next generation of AI-glasses.
Asia-Pacific
Asia-Pacific posted revenue of Euro 822 million, up 10.5% compared to the third quarter of 2024 (+3.5% at current exchange rates), supported by an accelerating Greater China business and further boosted by Supreme.
In Professional Solutions, Greater China saw a strong performance of myopia management solutions, growing around 20%, supported in particular by Nikon and Kodak’s DOT lenses. With the launch of Stellest 2.0 and Stellest frames in July, the Group’s flagship brand continues to strengthen its position as a top-quality name for myopia management. In frames, Oakley gained impressive momentum attracting new customers and luxury licensed brands delivered double-digit growth. Southeast Asia and South Korea accelerated strongly, up double digits.
The Direct to Consumer segment was supported by a solid organic growth, with comparable-store sales3 at low-single digit, and an additional contribution from Supreme. Australian OPSM was slightly positive, supported by the subscription program, which gained traction with both existing and new customers. In some pilot stores, Espansione instruments for dry eye treatment were deployed and received encouraging feedback. Sunglass Hut closed flattish in the region, sustained by the rising popularity of AI-glasses aided by the launch of new AI features.
Latin America
Latin America posted revenue of Euro 355 million, up 5.2% compared to the third quarter of 2024 (-0.4% at current exchange rates), decelerating compared to the pace of the two previous quarters this year.
The Professional Solutions revenue were flat in the two key markets of Brazil and Mexico but grew nicely in the rest of the region. In Brazil the lens business was just slightly positive, driven by both independents and key accounts, supported by Varilux innovations, while the frame business was flat. Óticas Carol franchise program turned negative during the period, primarily due to the phasing of new frame collections, after two positive quarters supported by store and assortment improvements. Argentina continued to grow strongly, in a generally inflationary environment, followed by Colombia, which progressed nicely.
The Direct to Consumer slowed to low-single digit growth in comparable-store sales3, primarily due to the slight deceleration of both optical and sun segments, mainly in Mexico, Peru and Argentina.
Nine-month revenue by segment
Nine-month revenue by region
In the first nine months of 2025, revenue amounted to Euro 20,891 million, up 8.8% versus the same period of 2024 (+5.9% at current exchange rates), with all the channels and the regions nicely growing.
Professional Solutions grew 6.6% versus the first nine months of 2024 (+3.8% at current exchange rates), also thanks to the material acceleration of the AI-glasses in the third quarter. Direct to Consumer was up 10.7% (+7.8% at current exchange rates) supported by both brick-and mortar, progressing at the same pace in optical and sun banners, and ecommerce, boosted by AI-glasses, with an additional uplift from Supreme.
The sound growth in the first nine months of the year was led by the EMEA up 10.5% (+9.4% at current exchange rates) progressing across channels thanks to winning execution. The largest region North America accelerated in the third quarter, backed by a healthy vision care and sunglasses business and the rising popularity of the AI-glasses, closing the first nine months up 7.2% (+4.0% at current exchange rates). Asia-Pacific grew 9.5% (+5.9% at current exchange rates), backed by myopia management portfolio. Latin America was up 7.6% (-2.3% at current exchange rates), with all the countries posting a positive performance.
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Long-Term Outlook
The Company confirms its target of mid-single-digit annual revenue growth from 2022 to 2026 at constant exchange rates1 (based on 2021 pro forma4 revenue), targeting a range of €27-28 billion, and expects to achieve an adjusted2 operating profit as a percentage of revenue in the range of 19-20% by the end of that period.
Conference Call
A conference call in English will be held today at 6:30 pm CEST.
The meeting will be available live and may also be heard later at: https://streamstudio.world-television.com/1217-2090-42396/en
Forthcoming Investor Events
- November 13, 2025: J.P. Morgan Luxury Goods Conference in Paris
- November 18, 2025: Jefferies Healthcare Conference in London
- November 19-20, 2025: Morgan Stanley 24th Asia-Pacific Summit in Singapore
- November 20, 2025: Bank of America Consumer and Retail Conference in Paris
Notes
As table totals are based on unrounded figures, there may be discrepancies between these totals and the sum of their rounded component.
1 Constant exchange rates: figures at constant exchange rates have been calculated using the average exchange rates in effect for the corresponding period in the relevant comparative year.
2 Adjusted measures or figures: adjusted from the expenses or income related to the combination of Essilor and Luxottica (the “EL Combination”), the acquisition of GrandVision (the “GV Acquisition”), other strategic and material acquisitions, and other transactions that are unusual, infrequent or unrelated to the normal course of business as the impact of these events might affect the understanding of the Group’s performance. A description of those other transactions that are unusual, infrequent or unrelated to the normal course of business is provided in the half-year and year-end disclosure (see dedicated paragraph Adjusted measures).
3 Comparable-store sales: reflect, for comparison purposes, the change in sales from one period to another by taking into account in the more recent period only those stores already open during the comparable prior period. For each geographic area, the calculation applies the average exchange rate of the prior period to both periods.
4 Comparable or pro forma (revenue): comparable revenue includes the contribution of GrandVision’s revenue to EssilorLuxottica as if the combination between EssilorLuxottica and GrandVision (the “GV Acquisition”), as well as the disposals of businesses required by antitrust authorities in the context of the GV Acquisition, had occurred at the beginning of the year (i.e. January 1). Comparable revenue has been prepared for illustrative purpose only with the aim to provide meaningful comparable information.
