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EssilorLuxottica

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EssilorLuxottica
Information
Type Public company
Industry Eyewear, Eye care, Consumer electronics
Founded 1 October 2018
Founder Formed by merger of Essilor (founded 1972) and Luxottica (founded 1961)
Headquarters Paris, France and Milan, Italy
Notable Personnel Francesco Milleri (Chairman and CEO), Paul du Saillant (Deputy CEO), Leonardo Del Vecchio (Luxottica founder, died 2022)
Products Prescription lenses, eyewear frames, sunglasses, AI glasses, hearing-aid glasses
Website https://www.essilorluxottica.com


EssilorLuxottica is a Franco-Italian eyewear company formed on 1 October 2018 through the combination of the French lens maker Essilor and the Italian frame manufacturer Luxottica.[1] It is the world's largest eyewear company.[2] Its own brands include Ray-Ban, Oakley, Persol, Oliver Peoples and Vogue Eyewear, and it makes eyewear under licence for fashion houses such as Prada, Chanel and Versace.[3] The group reported revenue of 28,491 million euros for 2025.[4]

Its relevance to virtual and Augmented reality comes from its partnership with Meta Platforms, for which it is the eyewear design and manufacturing partner on the Ray-Ban Meta, Oakley Meta and Meta Glasses lines of camera-and-audio Smart glasses, and on the Meta Ray-Ban Display, which adds an in-lens display. The collaboration, which the two companies date to 2019, produced Ray-Ban Stories in 2021 and the much more successful Ray-Ban Meta glasses from 2023 onward. EssilorLuxottica sold more than 7 million AI glasses in 2025.[5][6][4] In 2026 the company also acquired the French mixed reality headset maker Lynx, taking over its intellectual property, assets and most of its team, and signed a joint development agreement with Applied Materials on waveguides and other optics for augmented reality glasses.[7][8]

Reviewed 29 September 2026. Merger, founding, leadership, 2025 and H1 2026 financials, Meta partnership products and prices, Meta stake, Lynx acquisition, Applied Materials agreement and Nuance Audio checked against the cited releases, filings and press reports About review dates.

History

Predecessor companies

Luxottica was founded on 27 April 1961 by Leonardo Del Vecchio in Agordo, in the Dolomites of northern Italy. It began by making metal temples and other components for eyewear manufacturers in the Cadore district.[9] It later grew into a vertically integrated eyewear manufacturer and retailer. By the time the merger was agreed it made Ray-Ban and Oakley sunglasses and frames for luxury brands such as Armani, Chanel and Prada, and it was the world's largest eyewear retailer through LensCrafters, Pearle Vision and Sunglass Hut.[10] Essilor was created in 1972 from the merger of two French eyeglass makers, Essel, which began in 1849 as a workers' cooperative of 13 eyeglass makers, and Silor. Essel engineer Bernard Maitenaz had invented the Varilux progressive lens in 1959, and the combined firm became the world's leading manufacturer of corrective lenses.[11]

Merger

On 16 January 2017 Essilor and Delfin, the Del Vecchio family holding company, announced an agreement to combine Essilor with Luxottica. The deal was valued at 46 billion euros (about 49 billion US dollars): Delfin would exchange its roughly 62 percent stake in Luxottica for Essilor shares and become the largest shareholder of the combined company. Del Vecchio was named executive chairman and CEO of the future EssilorLuxottica, and Essilor chief executive Hubert Sagnières executive vice-chairman and deputy CEO with equal powers.[10][12] The deal had been expected to close in the second half of 2017, but it closed on 1 October 2018 once antitrust authorities had cleared it. On that day Delfin contributed its 62.42 percent stake in Luxottica to Essilor, which became the parent company of Luxottica and was renamed EssilorLuxottica. Its shares began trading on Euronext Paris under the ticker "EL" on 2 October 2018.[10][1]

Leadership and ownership

Del Vecchio died on 27 June 2022. The board then appointed Francesco Milleri, already chief executive, as chairman as well, and confirmed Paul du Saillant as deputy CEO.[13] Milleri and du Saillant still held those roles in July 2026.[8] Delfin controls about 32.4 percent of EssilorLuxottica's capital. On 25 August 2026, after a dispute among Del Vecchio's heirs over control of Delfin, his son Leonardo Maria Del Vecchio stepped down as EssilorLuxottica's chief strategy officer and as chairman of the Ray-Ban brand.[14]

Business

EssilorLuxottica is vertically integrated across lens manufacturing, frame production, brand licensing and retail. Its lens technologies include Varilux, Stellest and Transitions.[8] Its own eyewear brands include Ray-Ban, Oakley, Persol, Oliver Peoples, Vogue Eyewear, Arnette, Costa and the Foster Grant reading glasses brand. It holds eyewear licences for Giorgio Armani, Burberry, Chanel, Dolce&Gabbana, Michael Kors, Prada, Ralph Lauren, Tiffany and Co., Versace and other fashion brands.[3] In March 2026 it extended its Dolce&Gabbana licence through 2050.[8] Its retail banners include Sunglass Hut, LensCrafters, Vision Express and Apollo.[8] The group had 17,750 stores at the end of 2025 and 19,686 at 30 June 2026, the increase coming largely from the consolidation of the Thai retailer Top Charoen. It describes itself as having about 210,000 employees in 150 countries. Its shares trade on Euronext Paris and are included in the CAC 40 and Euro Stoxx 50 indices.[8]

For 2025 the group reported revenue of 28,491 million euros, up 7.5 percent year over year and 11.2 percent at constant exchange rates. Fourth-quarter revenue rose 18.4 percent at constant exchange rates to 7,600 million euros. The company said the AI-glasses business built with Meta was the main reason second-half growth accelerated, while US tariffs and the lower margins of AI glasses weighed on its adjusted operating margin (16.0 percent at constant exchange rates).[4] In the first half of 2026 revenue reached 14,818 million euros, up 9.7 percent at constant exchange rates, and the company said AI-glasses sales almost doubled in the second quarter compared with a year earlier.[8]

Partnership with Meta

EssilorLuxottica is the eyewear partner for Meta Platforms on its consumer smart glasses, supplying frame design, lens technology and manufacturing while Meta provides the cameras, audio, processors and Meta AI software. Both companies trace the collaboration to 2019.[6][15] On 17 September 2024 the two companies announced a new long-term agreement under which they would keep developing "multi-generational smart eyewear products" into the next decade.[16]

Ray-Ban Stories and Ray-Ban Meta

The first product, Ray-Ban Stories, launched on 9 September 2021 from 299 US dollars. It had two 5-megapixel cameras, open-ear speakers for music and calls, and Facebook Assistant voice commands, and it went on sale in the US, Australia, Canada, Ireland, Italy and the UK.[17] It has since been discontinued.[6] The second generation, the Ray-Ban Meta glasses, was announced on 27 September 2023 at a starting price of 299 US dollars. It added a 12-megapixel ultra-wide camera, 1080p video, a five-microphone array, livestreaming to Facebook and Instagram, and the "Hey Meta" voice assistant, running on a Qualcomm Snapdragon AR1 Gen 1 chip.[18] Ray-Ban Meta passed 1 million units in less than two years, and EssilorLuxottica put combined sales across 2023 and 2024 at about 2 million.[15][5]

Oakley Meta and the 2025 lineup

In 2025 the partnership expanded beyond the Ray-Ban brand. On 20 June 2025 EssilorLuxottica and Meta announced Oakley Meta, a line of "performance AI glasses" for athletes. Its first model, the Oakley Meta HSTN (pronounced "HOW-stuhn"), started at 399 US dollars, with a limited edition at 499 US dollars available for preorder from 11 July 2025. It records 3K video and is rated for up to eight hours of typical use, and it can be fitted with Oakley's PRIZM lenses.[19][4]

At Meta Connect in September 2025 Meta and EssilorLuxottica introduced three more products. The Ray-Ban Meta (Gen 2) started at 379 US dollars (419 euros), with 3K video and up to eight hours of battery life. The wraparound Oakley Meta Vanguard for sport cost 499 US dollars (549 euros) and had a 12-megapixel camera with a 122-degree field of view, IP67 water and dust resistance, and Strava and Garmin integration. The Meta Ray-Ban Display started at 799 US dollars and went on sale in selected US stores on 30 September 2025. It was Meta's first consumer glasses with a built-in display, a full-color screen in the right lens, and came with the Meta Neural Band, an EMG wristband for input.[20][21][4]

Meta's stake

In July 2025 Reuters and Bloomberg News reported that Meta had taken a stake of nearly 3 percent in EssilorLuxottica, worth about 3 billion euros (about 3.5 billion US dollars), and was considering further purchases that could take it to around 5 percent over time.[22][23] In December 2025 José Gonzalo, a Bpifrance executive who sits on EssilorLuxottica's board, said Meta held at least 3 percent, according to Reuters. He said the stake could rise to as much as 5 percent but was more likely to stay near the lower end of that range, and that Meta had no board seat and had not asked for one.[24]

Sales and production

Smart glasses accounted for more than a third of EssilorLuxottica's revenue growth in the third quarter of 2025: of 11.7 percent overall growth, "in excess of 4 percentage points" came from the wearables division.[6] For full-year 2025 the company said it sold more than 7 million AI glasses, up from about 2 million across 2023 and 2024 combined.[4][5] Chief financial officer Stefano Grassi said the smart glasses business was profitable in absolute terms and that about 20 percent of buyers chose prescription lenses.[6] Grassi also said that glasses "will materially replace most of the functionality that today we have embedded into our phones."[15] The company had planned annual smart glasses production capacity of 10 million units by the end of 2026 and later said it would get there sooner.[6] In January 2026 Bloomberg reported that the two companies were discussing raising capacity to 20 million units by the end of 2026. The report said no decision had been made.[25] In June 2026 EssilorLuxottica announced its first wearable production lines in Italy. Part of its Agordo plant is being converted for them, with operations due to begin by early 2027.[8]

2026 products

On 31 March 2026 the companies added two Ray-Ban Meta styles designed for prescription wearers, Blayzer Optics (Gen 2) and Scriber Optics (Gen 2). They have a slimmer frame, interchangeable nose pads and a dedicated action button for Meta AI, and went on sale on 14 April 2026 from 499 US dollars (469 euros). The Oakley Meta Vanguard also became available with Transitions lenses.[8] On 23 June 2026 they launched Meta Glasses, a Meta- and EssilorLuxottica-branded collection without the Ray-Ban name, starting at 299 US dollars. The three launch styles were the Meta Adventurer, the Meta Fury and Meta Glasses by Kylie.[26][8]

At Meta Connect in September 2026 the partners announced the Ray-Ban Meta (Gen 3), from 449 US dollars and on sale the same day, and Ray-Ban Meta Audio, their first camera-free audio-only AI glasses, from 349 US dollars with shipping from 13 October 2026.[27][28] They also added Meta Capri and Meta Nova styles to the Meta Glasses line. The Meta Ray-Ban Display went on sale in the UK and Canada, and pre-orders opened in France, Italy and Germany. The companies said they would offer more than 100 styles of AI glasses by the end of 2026.[28] Engadget reported international prices for the Display of 749 pounds, 1,149 Canadian dollars and 899 euros, with availability in Germany, France and Italy from 13 October 2026.[27]

Product Announced Starting price (US dollars) Notes
Ray-Ban Stories 9 September 2021 299 First generation; two 5 MP cameras and speakers, voice commands; discontinued[17][6]
Ray-Ban Meta 27 September 2023 299 12 MP camera, 1080p video, Meta AI, Snapdragon AR1 Gen 1; about 2 million sold across 2023 and 2024[18][5]
Oakley Meta HSTN 20 June 2025 399 Performance line for athletes; PRIZM lenses, 3K video, up to 8 hours battery[19][4]
Ray-Ban Meta (Gen 2) September 2025 379 Refreshed Ray-Ban Meta; 3K video, up to 8 hours battery[20]
Oakley Meta Vanguard September 2025 499 Wraparound sport frame; 122-degree camera, IP67, Strava and Garmin integration[4][21]
Meta Ray-Ban Display September 2025 799 First consumer glasses with an in-lens display; comes with the Meta Neural Band EMG wristband[4]
Ray-Ban Meta Blayzer Optics and Scriber Optics (Gen 2) 31 March 2026 499 Optical-first frames for prescription wearers; on sale 14 April 2026[8]
Meta Glasses 23 June 2026 299 Meta and EssilorLuxottica branded collection; three launch styles[26]
Ray-Ban Meta (Gen 3) September 2026 449 Slimmer design, up to 9 hours battery, 12 MP camera with 3K video[27]
Ray-Ban Meta Audio September 2026 349 Camera-free audio glasses; ships 13 October 2026[27]

Other XR and smart eyewear work

Acquisition of Lynx

In July 2026 Stan Larroque, founder and CEO of Lynx, the French maker of the Lynx-R1 mixed reality headset, confirmed in a public email to backers that EssilorLuxottica had acquired the company. Road to VR reported the deal on 16 July 2026. It covered Lynx's intellectual property and assets and most of its team; financial terms were not disclosed. Lynx's parent company, SL Process, had entered judicial liquidation in March 2026.[7][2] Larroque did not join EssilorLuxottica; he moved to a leadership role at the French drone maker Parrot.[7][2] Road to VR wrote that the unreleased Lynx R2 headset "may have little future under its new owner". In September 2026 UploadVR said it remained to be seen whether EssilorLuxottica would revive the headset or only use the IP and the team's expertise, and judged a revival "quite unlikely".[7][2]

Applied Materials partnership

On 16 June 2026 EssilorLuxottica and Applied Materials announced a long-term joint development agreement aimed at commercializing optical systems for augmented reality and AI smart glasses. The work covers waveguides, which carry a projected image through a transparent lens to the eye, together with adaptive and electro-active lenses that change tint and lens encapsulation technologies meant to protect the optical performance of AR displays. Research is carried out at a dedicated lab on Applied Materials' Silicon Valley campus.[8]

Nuance Audio

EssilorLuxottica also sells Nuance Audio, glasses with a built-in open-ear hearing aid for adults with mild to moderate hearing loss. The product grew out of its 2023 acquisition of Nuance Hearing. In January 2025 it acquired the French AI noise-reduction start-up Pulse Audition, and in February 2025 it received US Food and Drug Administration clearance and a CE marking in the EU for the glasses.[4][8] By February 2026 Nuance Audio was sold in 12 markets through about 15,000 stores.[4] On 22 September 2026 the company launched a second generation, Nuance Audio Plus, in the US from 829 US dollars. It adds battery life of about 10 hours, directional beamforming microphones, controls on the frame and the ability to answer phone calls when paired with a compatible iPhone; the original model stayed on sale. At the launch EssilorLuxottica said Nuance Audio was available in 14 countries and more than 18,000 stores.[29]

See also

References

  1. ↑ 1.0 1.1 "Essilor and Delfin successfully complete the combination of Essilor and Luxottica". MAFO. 2018-10-16. https://mafo-optics.com/essilor-and-delfin-successfully-complete-the-combination-of-essilor-and-luxottica/. Retrieved 2026-09-29.
  2. ↑ 2.0 2.1 2.2 2.3 David Heaney (2026-09-13). "EssilorLuxottica Acquired Lynx After Liquidation, Leaving R2 Launch Unlikely". UploadVR. https://www.uploadvr.com/essilorluxottica-acquired-lynx-after-liquidation-leaving-r2-launch-unlikely/. Retrieved 2026-09-29.
  3. ↑ 3.0 3.1 "Eyewear". EssilorLuxottica. https://www.essilorluxottica.com/en/brands/eyewear/. Retrieved 2026-09-29.
  4. ↑ 4.00 4.01 4.02 4.03 4.04 4.05 4.06 4.07 4.08 4.09 4.10 "Q4/FY 2025 Results". GlobeNewswire. EssilorLuxottica. 2026-02-11. https://ml-eu.globenewswire.com/Resource/Download/9a1d2620-0d90-4ab7-af5a-f941c4de778a. Retrieved 2026-09-29.
  5. ↑ 5.0 5.1 5.2 5.3 Scott Hayden (2026-02-12). "Meta Sold Over 7 Million Smart Glasses Last Year, Effectively Tripling Sales in 2025 Alone". Road to VR. https://roadtovr.com/meta-ray-ban-smart-glasses-sales-tripled-2025/. Retrieved 2026-09-29.
  6. ↑ 6.0 6.1 6.2 6.3 6.4 6.5 6.6 "Meta Glasses Drive More Than A Third Of EssilorLuxottica's Growth". UploadVR. 2025-10-17. https://www.uploadvr.com/meta-smart-glasses-drive-essilorluxotticas-growth/. Retrieved 2026-09-29.
  7. ↑ 7.0 7.1 7.2 7.3 Scott Hayden (2026-07-16). "EssilorLuxottica Acquires French XR Startup Lynx, Putting R2 Headset Release in Doubt". Road to VR. https://roadtovr.com/essilorluxottica-acquires-lynx-r2-headset-release/. Retrieved 2026-09-29.
  8. ↑ 8.00 8.01 8.02 8.03 8.04 8.05 8.06 8.07 8.08 8.09 8.10 8.11 8.12 "Q2/H1 2026 Results (press release and 2026 Interim Management Report)". EssilorLuxottica. 2026-07-28. https://www.essilorluxottica.com/api/getCapContent/?download=true&id=305620. Retrieved 2026-09-29.
  9. ↑ "Leonardo Del Vecchio". Fondazione Leonardo Del Vecchio. https://www.fondazioneldv.org/en/leonardo-del-vecchio/. Retrieved 2026-09-29.
  10. ↑ 10.0 10.1 10.2 "Essilor/Luxottica Merger Corners Half Of The World's Sunglasses". SGB Media. 2017-01-17. https://sgbonline.com/essilor-and-luxottica-create-49-billion-eyewear-giant/. Retrieved 2026-09-29.
  11. ↑ "Essilor International". Encyclopedia.com (International Directory of Company Histories). https://www.encyclopedia.com/books/politics-and-business-magazines/essilor-international. Retrieved 2026-09-29.
  12. ↑ "Luxottica Group S.p.A. Rule 425 filing". U.S. Securities and Exchange Commission. 2017-03-23. https://www.sec.gov/Archives/edgar/data/0000857471/000110465917018855/a17-9803_1425.htm. Retrieved 2026-09-29.
  13. ↑ "In Memoriam: EssilorLuxottica Honors Chairman, Leonardo Del Vecchio". Optometric Management. August 2022. https://optometricmanagement.com/issues/2022/august/in-memoriam-essilorluxottica-honors-chairman-leonardo-del-vecchio/. Retrieved 2026-09-29.
  14. ↑ "Son of Luxottica founder quits after succession row". France 24. Agence France-Presse. 2026-08-25. https://www.france24.com/en/live-news/20260825-son-of-luxottica-founder-quits-after-succession-row. Retrieved 2026-09-29.
  15. ↑ 15.0 15.1 15.2 Erin Davis (2025-10-17). "Meta's Ray-Ban Maker Says Its AI Smart Glasses Could Be the New Smartphone as Sales Skyrocket". Entrepreneur. https://www.entrepreneur.com/business-news/meta-ray-bans-are-boosting-sales-for-essilorluxottica/498454. Retrieved 2026-09-29.
  16. ↑ "EssilorLuxottica and Meta Announce Long Term Partnership, Shaping the Future of the Smart Eyewear Category". GlobeNewswire. EssilorLuxottica. 2024-09-17. https://www.globenewswire.com/news-release/2024/09/17/2947143/0/en/EssilorLuxottica-and-Meta-Announce-Long-Term-Partnership-Shaping-the-Future-of-the-Smart-Eyewear-Category.html. Retrieved 2026-09-29.
  17. ↑ 17.0 17.1 "Introducing Ray-Ban Stories: First-Generation Smart Glasses". Meta Newsroom. 2021-09-09. https://about.fb.com/news/2021/09/introducing-ray-ban-stories-smart-glasses/. Retrieved 2026-09-29.
  18. ↑ 18.0 18.1 "Introducing the New Ray-Ban - Meta Smart Glasses". Meta. 2023-09-27. https://about.fb.com/news/2023/09/new-ray-ban-meta-smart-glasses/. Retrieved 2026-09-29.
  19. ↑ 19.0 19.1 "Introducing Oakley Meta Glasses, a New Category of Performance AI Glasses". Meta Newsroom. 2025-06-20. https://about.fb.com/news/2025/06/introducing-oakley-meta-glasses-a-new-category-of-performance-ai-glasses/. Retrieved 2026-09-29.
  20. ↑ 20.0 20.1 Mariella Moon (2025-09-18). "Everything Meta announced at Connect 2025: Second-gen Ray-Ban Meta, Oakley Meta Vanguard and Meta Ray-Ban Display". Engadget. https://www.engadget.com/wearables/everything-meta-announced-at-connect-2025-second-gen-ray-ban-meta-oakley-meta-vanguard-and-meta-ray-ban-display-100007120.html. Retrieved 2026-09-29.
  21. ↑ 21.0 21.1 Scott Hayden (2025-09-17). "Meta Reveals Next-Gen Ray-Ban and New Oakley Vanguard Smart Glasses". Road to VR. https://roadtovr.com/meta-smart-glasses-ray-ban-oakley-vanguard-price-release/. Retrieved 2026-09-29.
  22. ↑ "Meta takes around 3% stake in Ray-Ban-parent EssilorLuxottica, source says". Global Banking and Finance Review. 2025-07-08. https://www.globalbankingandfinance.com/US-META-PLATFORMS-ESSILORLUXOTTICA-STAKE-e55e036c-c95b-45e2-9aa6-b4a4a29ce78b. Retrieved 2026-09-29.
  23. ↑ "Meta Reported to Acquire Close to 3 Percent Stake in EssilorLuxottica". Vision Monday. 2025-07-09. https://www.visionmonday.com/technology/article/meta-reported-to-acquire-close-to-3-percent-stake-in-essilorluxottica/. Retrieved 2026-09-29.
  24. ↑ "Meta said to hold stake of at least 3% in EssilorLuxottica". FashionNetwork. Reuters. 2025-12-10. https://us.fashionnetwork.com/news/Meta-said-to-hold-stake-of-at-least-3-in-essilorluxottica,1790631.html. Retrieved 2026-09-29.
  25. ↑ "Meta and EssilorLuxottica Consider Doubling Smart Glasses Production Capacity". PYMNTS. 2026-01-13. https://www.pymnts.com/news/wearables/2026/meta-and-essilorluxottica-consider-doubling-smart-glasses-production-capacity/. Retrieved 2026-09-29.
  26. ↑ 26.0 26.1 "We're Partnering With EssilorLuxottica to Launch Meta Glasses". Meta Newsroom. 2026-06-23. https://about.fb.com/news/2026/06/meta-essilorluxottica-partner-launch-meta-glasses/. Retrieved 2026-09-29.
  27. ↑ 27.0 27.1 27.2 27.3 Kris Holt (2026-09-23). "Everything announced at Meta Connect 2026". Engadget. https://www.engadget.com/2267230/everything-announced-at-meta-connect-2026/. Retrieved 2026-09-29.
  28. ↑ 28.0 28.1 "EssilorLuxottica and Meta further advance AI glasses category with new products revealed at Meta Connect". GlobeNewswire. EssilorLuxottica. 2026-09-24. https://www.globenewswire.com/news-release/2026/09/24/3367915/0/en/essilorluxottica-and-meta-further-advance-ai-glasses-category-with-new-products-revealed-at-meta-connect.html. Retrieved 2026-09-29.
  29. ↑ "EssilorLuxottica Launches Nuance Audio Plus Hearing Glasses". The Hearing Review. 2026-09-22. https://hearingreview.com/hearing-products/hearing-aids/otc/essilorluxottica-launches-nuance-audio-plus-hearing-glasses. Retrieved 2026-09-29.
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