EssilorLuxottica SA
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EssilorLuxottica SA
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EssilorLuxottica SA
EssilorLuxottica makes eyeglass lenses, frames, sunglasses, and other vision products. It is the company behind many well-known eyewear brands and also supplies optical lenses and equipment used by eye-care professionals. In simple terms, it sits in the middle of the vision care industry, designing the products people wear on their faces and the lens technology that sits in the glasses themselves. The company sells to several groups: consumers who buy glasses and sunglasses, opticians and independent optical shops that fit and sell eyewear, and eye-care professionals who need lenses, frames, and related tools. It makes money by selling branded eyewear, prescription lenses, and optical equipment through a mix of wholesale, retail, and direct-to-consumer channels. That gives it both a product business and a distribution business. What makes EssilorLuxottica different is that it controls both the lens side and the frame side of eyewear. That matters because a pair of glasses usually needs both, and the company can design, make, and distribute much of the value chain itself. It also owns a large portfolio of brands, which helps it sell everything from everyday corrective lenses to premium fashion sunglasses.
EssilorLuxottica makes eyeglass lenses, frames, sunglasses, and other vision products. It is the company behind many well-known eyewear brands and also supplies optical lenses and equipment used by eye-care professionals. In simple terms, it sits in the middle of the vision care industry, designing the products people wear on their faces and the lens technology that sits in the glasses themselves.
The company sells to several groups: consumers who buy glasses and sunglasses, opticians and independent optical shops that fit and sell eyewear, and eye-care professionals who need lenses, frames, and related tools. It makes money by selling branded eyewear, prescription lenses, and optical equipment through a mix of wholesale, retail, and direct-to-consumer channels. That gives it both a product business and a distribution business.
What makes EssilorLuxottica different is that it controls both the lens side and the frame side of eyewear. That matters because a pair of glasses usually needs both, and the company can design, make, and distribute much of the value chain itself. It also owns a large portfolio of brands, which helps it sell everything from everyday corrective lenses to premium fashion sunglasses.
Sales: EssilorLuxottica said H1 2026 revenue grew 9.7% at constant currency, with Q2 at 8.7%, in line with its medium-term growth target.
Profitability: Adjusted operating profit rose 15% in H1, helped by strong price/mix, operating leverage and a favorable tariff impact, while free cash flow exceeded EUR 1 billion.
Wearables: Management said smart glasses continued to grow rapidly and improve margins, with stronger pricing, higher prescription and transition lens penetration, and better productivity.
Health strategy: The company doubled down on its move into med-tech and Oculomics, highlighting its new vision and health center in Philadelphia, a partnership with Applied Materials, and further rollout of myopia and diagnostic services.
Outlook: Management sounded confident on H2 despite a tougher comparison base, citing a strong July, improving Stellest productivity in the U.S., and several product launches due later in the year.
Costs: Executives said operating expenses and inflation remain under control, and they do not see a major cost headwind in the second half.
Management
Francesco Milleri is the Chairman and Chief Executive Officer of EssilorLuxottica SA, a global leader in the design, manufacture, and distribution of ophthalmic lenses, optical equipment, and eyewear. He has been a pivotal figure in the company since the merger of Luxottica and Essilor in 2018, and he officially assumed the CEO position in December 2020. Milleri joined Luxottica in 2016, where he served as Deputy Chairman and CEO. He was closely associated with the late founder, Leonardo Del Vecchio, and played a significant role in the company's transition and integration processes. His leadership is characterized by a strategic focus on digital transformation and innovation, aiming to enhance the company's competitive edge in the optical industry. Under Milleri's leadership, EssilorLuxottica has pursued various growth initiatives, including expanding its global retail footprint and strengthening its e-commerce capabilities. Milleri's background in business and technology, combined with his strategic acumen, has been instrumental in positioning EssilorLuxottica as a frontrunner in the rapidly evolving eyewear market.
Milleri joined Luxottica in 2016, where he served as Deputy Chairman and CEO. He was closely associated with the late founder, Leonardo Del Vecchio, and played a significant role in the company's transition and integration processes. His leadership is characterized by a strategic focus on digital transformation and innovation, aiming to enhance the company's competitive edge in the optical industry.
Under Milleri's leadership, EssilorLuxottica has pursued various growth initiatives, including expanding its global retail footprint and strengthening its e-commerce capabilities. Milleri's background in business and technology, combined with his strategic acumen, has been instrumental in positioning EssilorLuxottica as a frontrunner in the rapidly evolving eyewear market.
Paul du Saillant is a prominent business leader known for his executive role at EssilorLuxottica, a global leader in eyewear. Before the merger that created EssilorLuxottica, Paul du Saillant served as the CEO of Essilor International, where he played a critical role in steering the company's strategic vision and growth initiatives. He joined Essilor in 2008 as Chief Operating Officer and has been instrumental in various leadership capacities, contributing to the company’s innovations and market expansion. His tenure at Essilor saw significant growth in terms of product development and global market reach, emphasizing eyecare and optical solutions' technological advancements. Following Essilor's merger with the Italian eyewear giant Luxottica in 2018 to form EssilorLuxottica, du Saillant continued to hold crucial leadership responsibilities. He was responsible for driving integration strategies between the two companies, looking to harness synergies and strengthen their positions in the global market. Before joining Essilor, Paul du Saillant held several positions in high-profile firms across various industries, notably working with Lhoist Group and Air Liquide, where he gained extensive experience in international business management and operations. He is recognized for his strategic foresight, commitment to innovation, and leadership qualities that contribute to EssilorLuxottica's continued growth and success in the industry.
He joined Essilor in 2008 as Chief Operating Officer and has been instrumental in various leadership capacities, contributing to the company’s innovations and market expansion. His tenure at Essilor saw significant growth in terms of product development and global market reach, emphasizing eyecare and optical solutions' technological advancements.
Following Essilor's merger with the Italian eyewear giant Luxottica in 2018 to form EssilorLuxottica, du Saillant continued to hold crucial leadership responsibilities. He was responsible for driving integration strategies between the two companies, looking to harness synergies and strengthen their positions in the global market.
Before joining Essilor, Paul du Saillant held several positions in high-profile firms across various industries, notably working with Lhoist Group and Air Liquide, where he gained extensive experience in international business management and operations.
He is recognized for his strategic foresight, commitment to innovation, and leadership qualities that contribute to EssilorLuxottica's continued growth and success in the industry.
Stefano Grassi is an accomplished executive known for his substantial contributions to the eyewear and optical industries through his work with EssilorLuxottica, a global leader in the design, manufacture, and distribution of ophthalmic lenses, frames, and sunglasses. He has served in various leadership roles within the company, demonstrating exceptional financial acumen and strategic management skills. Before his tenure at EssilorLuxottica, Grassi had a distinguished career, with notable experience in financial management roles, which equipped him with the expertise to lead in a complex, global business environment. His education includes a strong background in finance and business management, contributing to his adeptness in overseeing the integration of financial strategies with overall business objectives. Grassi has shown commitment to driving growth and innovation within EssilorLuxottica. His leadership has been pivotal in steering the company through transformative periods, enhancing operational efficiencies, and expanding its global footprint. Known for his forward-thinking approach, Grassi continues to focus on implementing sustainable business practices and leveraging technology to improve customer experiences and drive competitive advantage in the eyewear industry.
Before his tenure at EssilorLuxottica, Grassi had a distinguished career, with notable experience in financial management roles, which equipped him with the expertise to lead in a complex, global business environment. His education includes a strong background in finance and business management, contributing to his adeptness in overseeing the integration of financial strategies with overall business objectives.
Grassi has shown commitment to driving growth and innovation within EssilorLuxottica. His leadership has been pivotal in steering the company through transformative periods, enhancing operational efficiencies, and expanding its global footprint. Known for his forward-thinking approach, Grassi continues to focus on implementing sustainable business practices and leveraging technology to improve customer experiences and drive competitive advantage in the eyewear industry.
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