default-output-block.skip-main
BoF Logo

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.

EssilorLuxottica Improves Margin in Challenging Market

Ray-Ban sunglasses and case.
The maker of Oakley and Ray-Ban sunglasses said its adjusted operating margin rose by 100 basis points to 18.4 percent in the six months to June 30. (Shutterstock)

Luxury eyewear company EssilorLuxottica raised its operating margins substantially in the first half of the year, it said on Friday, despite a challenging environment.

The maker of Oakley and Ray-Ban sunglasses said its adjusted operating margin rose by 100 basis points to 18.4 percent in the six months to June 30.

“We’re pleased to report a strong first half of 2022, with sound growth in all regions and a substantial increase in our operating margin,” chairman and chief executive officer Francesco Milleri said in a statement.

The group reported comparable revenue rising 7 percent to €6.39 billion ($6.53 billion) for the second quarter at constant exchange rates, with the Europe, the Middle East and Africa (EMEA) region continuing to bounce back with double-digit growth.

All its main markets countries were positive, with the exception of China and Russia, the group said.

The company said that recently integrated Dutch eyewear retailer GrandVision’s comparable-store sales grew 7 percent in the second quarter.

EssilorLuxottica also reiterated its targets for 2022 to 2026.

Last month the group’s chairman, Leonardo Del Vecchio, died at the age of 87. The billionaire founded the Luxottica business in 1961 and remained the chairman and a major shareholder in the world’s biggest eyewear group after it combined forces with France’s Essilor in 2018.

By Jagoda Darlak and Agata Rybska; Editors: Clarence Fernandez and David Goodman

Learn more:

EssilorLuxottica Bid for GrandVision Poised for EU Approval

EssilorLuxottica SA’s bid for eyewear retailer GrandVision NV is on track for European Union regulatory approval as soon as this month, clearing one hurdle for the deal even as talks on the future combination continue.

In This Article
Topics
Organisations

© 2021 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.
CONNECT WITH US ON
Building a DRC Challenger Brand
© 2022 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions and Privacy policy.
Building a DRC Challenger Brand