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EssilorLuxottica – More Than Just Eyeglasses

EssilorLuxottica $EL (-0,2%) combines eyecare, strong brands such as Ray-Ban and Oakley, its own retail operations, and, increasingly, smart glasses.

Operationally, the picture remains strong: H1 2026 revenue up 9.7% on a currency-adjusted basis, adjusted operating profit up 15%. In Q2, the myopia business grew by 24%, and revenue from AI glasses nearly doubled.

The governance conflict remains a risk, but no operational weakness has been evident so far.

For me, this is an interesting quality compounder that I’m continuing to monitor.

3 Commenti

jkb92@jkb92

Ray-Ban has gone from being a cult brand to a "victim" brand because of the Meta glasses. I'd be cautious about that.

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Jeong@Jeong

@jkb92 Good point. That’s exactly where I see a risk—but it’s only part of the EL story. Ray-Ban is important, but EssilorLuxottica has a much broader portfolio. It would become particularly critical if Meta were to overshadow Ray-Ban’s brand image too much.

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jkb92@jkb92

@Jeong That's true. But I read a good analysis recently. Ray-Ban became cool because real legends, artists, and idols wore the glasses. No celebrity would voluntarily wear the glasses if Meta weren’t throwing money around. Since everyone knows that, they’re losing their cult status. And as a result, even Ray-Ban’s non-AI glasses will lose popularity, especially the models that are also available in AI versions.

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