EssilorLuxottica posts increase in Q2 revenue amid China rebound

Eyewear manufacturer EssilorLuxottica has reported an 8 percent increase in revenue in the second quarter as it benefited from a strong rebound in China.

The French-Italian luxury group made revenue of 6.7 billion euros in the three months to June 30 compared to 6.4 billion euros a year earlier.

The group experienced double-digit EMEA growth, while China “rebounded strongly” following the end of lockdown restrictions, and America was “positive”.

“At the halfway point of 2023, we are proud of our performance, including strong top line growth and our ability to keep the pace on margins, both on track with our long-term outlook,” said chair and CEO Francesco Milleri in a statement.

“The back half of the year will be very dynamic, as we further expand our Ray-Ban Stories in partnership with Meta with more functionalities and we prepare to step into the hearing solutions market with groundbreaking technology,” he said.

The company reaffirmed its target of mid-single-digit annual revenue growth from 2022 to 2026 at constant exchange rates.