EssilorLuxottica reported increased quarterly revenue, propelled by demand for Ray-Ban Meta smart glasses, indicating growing interest in wearable technology. The company, a partner with Meta on smart glasses and owner of brands including Ray-Ban and Oakley, announced its latest financial performance.
EssilorLuxottica’s quarterly results revealed a 7.3% increase in revenue. This figure exceeded analyst estimates, which had projected a 5.9% increase. However, when considering current exchange rates, the revenue growth was 3.2%. This adjusted percentage reflects the influence of a stronger euro and weaker foreign currencies on the company’s international sales operations.
A significant aspect of these financial results was the substantial increase in sales of Ray-Ban Meta smart glasses. Sales of these devices more than tripled during the first half of the current year when compared to the corresponding period of the previous year. This surge highlights a notable acceleration in consumer adoption of the product.
Francesco Milleri, Chairman and CEO of EssilorLuxottica, and Paul du Saillant, Deputy CEO, commented on these developments as reported by Reuters. They stated, “We are leading the transformation of glasses as the next computing platform, one where AI, sensory tech and a data-rich healthcare infrastructure will converge.” This statement articulates their strategic vision for the future of eyewear technology.
The current iteration of the Ray-Ban Meta smart glasses became available in October 2023. Since its release, the software incorporated into the device has received multiple new features in recent months. One notable addition is live translation capabilities, which enhances the functionality of the glasses. The integration of such artificial intelligence-powered features may be contributing to the increased rate of consumer adoption as the market for smart glasses expands.
EssilorLuxottica’s positive sales figures for smart glasses indicate a growing market, which has also drawn the attention of other technology companies. Alibaba recently introduced the Quark AI Glass, with its market debut anticipated later this year. Reports also indicate that Google and Apple are developing their own smart glasses. Apple’s product, however, may not be released in the immediate future.
Bloomberg reported that Apple CEO Tim Cook has been directly involved in the company’s smart glasses project and has requested an acceleration of its development timeline. Despite this, analyst Ming-Chi Kuo recently projected that Apple’s smart glasses would not debut before 2027. This forecast contradicts earlier reports that had suggested a launch window in 2026 for the Apple device.
Meta, for its part, has expanded its smart glasses portfolio. The company recently announced the Oakley x Meta smart glasses, representing its second collaborative effort with EssilorLuxottica. Additionally, Meta is developing the more advanced Orion AI Glasses, which are designed to include a display. The Financial Times also reported that Meta intends to integrate a display into its Ray-Ban glasses as early as the second half of 2025, although specific details regarding this implementation remain limited.
