Ray-Ban Meta Smart Glasses Sales Triple, Driving EssilorLuxottica's Revenue Growth

Ray-Ban Meta smart glasses revenue tripled over the year, EssilorLuxottica says

Ray-Ban Meta smart glasses on display in the window of a Ray Ban store in London, UK, on Friday, July 19, 2024. Revenue from sales of Ray-Ban Meta smart glasses more than tripled year over year, EssilorLuxottica revealed Monday as part of the company's most recent earnings report. EssilorLuxottica said the success of the Ray-Ban Meta glasses, built via a partnership with the Facebook parent stemming back to 2019, contributed to its first-half overall sales of 14.02 billion euro (US$16.25 billion), which represents a 7.3% year-over-year jump. "We are leading the transformation of glasses as the next computing platform, one where AI, sensory tech and a data-rich healthcare infrastructure will converge to empower humans and unlock our full potential," EssilorLuxottica CEO Francesco Milleri and deputy CEO Paul du Saillant said in a joint-statement. "The success of Ray-Ban Meta, the launch of Oakley Meta Performance AI glasses and the positive response to Nuance Audio are major milestones for us in this new frontier." In the earnings report, the company said that its new Oakley Meta smart glasses, unveiled in June, represents the latest product line to come from its partnership with the social media company. CNBC reported in June that Meta and Luxottica plan to debut a Prada-branded version of its smart glasses in the future. Luxottica owns several well-known brands including Ray-Ban, Oakley, Vogue Eyewear and Persol. In September, Meta renewed a long-term partnership agreement with Luxottica to "collaborate into the next decade to develop multi-generational smart eyewear products," according to the announcement.

Ray-Ban Meta smart glasses sales triples in the last year - 9to5Mac

EssilorLuxottica, Meta's partner in the smart glasses market and owner of brands such as Ray-Ban and Oakley, just reported stronger-than-expected quarterly revenue, driven in part by rising demand for the Ray-Ban Meta. Here's the breakdown. In its quarterly results, EssilorLuxottica reported a 7.3% revenue increase, beating a Bloomberg-compiled analyst estimate of 5.9%. It is worth mentioning that at current exchange rates, however, revenue rose by just 3.2%, reflecting the impact of a stronger euro and weaker foreign currencies on international sales. Still, one highlight from the results was the surge in Ray-Ban Meta smart glasses sales, which more than tripled in the first half of the year, compared to the same period last year. As reported by Reuters, here's what EssilorLuxottica Chairman and CEO, Francesco Milleri, and Deputy CEO Paul du Saillant had to say about the results: "We are leading the transformation of glasses as the next computing platform, one where AI, sensory tech and a data-rich healthcare infrastructure will converge," Interestingly, while the current version has been on sale since October 2023, the software has received new features in recent months, such as live translation. This suggests that as the consumer market warms up to smart glasses, new AI-powered features may be helping to further speed up adoption. While EssilorLuxottica's results show that demand for smart glasses is gaining momentum, the rest of the market is also waking up to that. Just yesterday, Alibaba unveiled the Quark AI Glass, set to launch later this year. Google and Apple are also reportedly working on their own versions, although in Apple's case, it may be a while before the company has anything to show for it. While Bloomberg has also reported that Tim Cook has been personally involved in the project, and has requested the timeline to be sped up, analyst Ming-Chi Kuo recently said he doesn't expect a debut before 2027, contradicting earlier reports that had pointed to a 2026 launch window. As for Meta, the company recently announced the Oakley x Meta smart glasses, its second collaboration with EssilorLuxottica. It also has the more advanced Orion AI Glasses in the works, which will feature a display. And speaking of displays, the Financial Times recently reported that Meta plans to add a display to its Ray-Ban glasses as soon as H2 2025, although further details on that remain scarce.

AI Ray-Ban Meta glasses help EssilorLuxottica boost sales

Paris (AFP) - EssilorLuxottica, the world's top maker of eyeglasses, said Monday a tripling of sales of Ray-Ban Meta AI connected glasses helped drive increase in profits. The group's revenue climbed by 5.5 percent to 14 billion euros ($16.2 billion) in the first half of the year, with net profit edging 1.6 percent higher to 1.4 billion euros. EssilorLuxottica's chief executive Francesco Milleri said results showed the group is "keeping pace with our growth targets despite a volatile environment". Like other European companies, the weak dollar impacted the company's performance in the North American region, nearly wiping out growth in the second quarter. EssilorLuxottica said AI glasses gained momentum in the first half of the year, with Ray-Ban Meta more than tripling in revenue year-over-year. It also announced new AI-enabled Oakley glasses in June. "We are leading the transformation of glasses as the next computing platform, one where AI, sensory tech and a data-rich healthcare infrastructure will converge to empower humans and unlock our full potential," said Milleri. The Ray-Ban glasses, equipped with camera, headphones and microphones, allow wearers to prompt Meta's AI without opening their phone by saying "Hey Meta". The company did not provide sales figures for the glasses or comment on the minority stake Meta has taken in it, which was disclosed earlier this month by Bloomberg. The company is a leading manufacturer of corrective lenses as well as frames, having acquired the rights to manufacture eyewear for numerous luxury brands including Giorgio Armani, Burberry, Chanel, Dolce&Gabbana, Prada and Versace.

Meta's Ray-Ban smart glasses are selling like crazy

EssilorLuxottica reported increased quarterly revenue, propelled by demand for Ray-Ban Meta smart glasses, indicating growing interest in wearable technology. The company, a partner with Meta on smart glasses and owner of brands including Ray-Ban and Oakley, announced its latest financial performance. EssilorLuxottica's quarterly results revealed a 7.3% increase in revenue. This figure exceeded analyst estimates, which had projected a 5.9% increase. However, when considering current exchange rates, the revenue growth was 3.2%. This adjusted percentage reflects the influence of a stronger euro and weaker foreign currencies on the company's international sales operations. A significant aspect of these financial results was the substantial increase in sales of Ray-Ban Meta smart glasses. Sales of these devices more than tripled during the first half of the current year when compared to the corresponding period of the previous year. This surge highlights a notable acceleration in consumer adoption of the product. Francesco Milleri, Chairman and CEO of EssilorLuxottica, and Paul du Saillant, Deputy CEO, commented on these developments as reported by Reuters. They stated, "We are leading the transformation of glasses as the next computing platform, one where AI, sensory tech and a data-rich healthcare infrastructure will converge." This statement articulates their strategic vision for the future of eyewear technology. The current iteration of the Ray-Ban Meta smart glasses became available in October 2023. Since its release, the software incorporated into the device has received multiple new features in recent months. One notable addition is live translation capabilities, which enhances the functionality of the glasses. The integration of such artificial intelligence-powered features may be contributing to the increased rate of consumer adoption as the market for smart glasses expands. EssilorLuxottica's positive sales figures for smart glasses indicate a growing market, which has also drawn the attention of other technology companies. Alibaba recently introduced the Quark AI Glass, with its market debut anticipated later this year. Reports also indicate that Google and Apple are developing their own smart glasses. Apple's product, however, may not be released in the immediate future. Bloomberg reported that Apple CEO Tim Cook has been directly involved in the company's smart glasses project and has requested an acceleration of its development timeline. Despite this, analyst Ming-Chi Kuo recently projected that Apple's smart glasses would not debut before 2027. This forecast contradicts earlier reports that had suggested a launch window in 2026 for the Apple device. Meta, for its part, has expanded its smart glasses portfolio. The company recently announced the Oakley x Meta smart glasses, representing its second collaborative effort with EssilorLuxottica. Additionally, Meta is developing the more advanced Orion AI Glasses, which are designed to include a display. The Financial Times also reported that Meta intends to integrate a display into its Ray-Ban glasses as early as the second half of 2025, although specific details regarding this implementation remain limited.

This Meta Product Unexpectedly Tripled in Revenue Over the Past Year: 'Major Milestones'

EssilorLuxottica says sales of the Ray-Ban Meta glasses have more than tripled in the first half of the year, contributing to the company's 7.3% revenue growth. The Ray-Ban Meta smart glasses were an unexpected success, selling two million pairs since debuting in October 2023. Last year, Meta CEO Mark Zuckerberg said that demand for the glasses "is still outpacing our ability to build them." The company has plans to sell 10 million glasses each year by the end of 2026. Now eyewear company EssilorLuxottica, which partnered with Meta to produce the Ray-Ban Meta glasses, says that sales of the eyewear have more than tripled in the first half of the year, compared to the same time last year, and significantly contributed to the company's overall revenue. Related: Mark Zuckerberg Revealed His Vision for Smart Glasses at Meta Connect -- and It Involves Holograms: 'Beginning of a Big Thing' In its latest earnings report on Monday, EssilorLuxottica stated that the glasses contributed to its overall sales of $16.25 billion in the first half of the year, a 7.3% increase from last year. The company said in the earnings report that the Ray-Ban Meta glasses were the No. 1 bestselling AI glasses on the global market, experiencing "category-defining success." "We are leading the transformation of glasses as the next computing platform," Francesco Milleri, chairman and CEO of EssilorLuxottica, and Paul du Saillant, deputy CEO of the company, jointly stated in the earnings report. The Ray-Ban Meta glasses are so popular that last month, Meta announced a sportier, waterproof version, the Oakley Meta glasses, also in partnership with EssilorLuxottica, and acquired a stake worth $3.5 billion in the eyewear company, signaling a long-term investment. The Oakley Meta frames have sold out on Meta's site at the time of writing. Milleri and du Saillant cited "the success of Ray-Ban Meta" and "the launch of Oakley Meta" as "major milestones" for EssilorLuxottica in the earnings report. Both the $299 Ray-Ban Meta and the $499 Oakley Meta glasses allow users to take photos and videos, make calls, send text messages through voice commands, interact with Meta AI, and play music. The Oakley Meta frames are a step up from the Ray-Ban Meta glasses, with higher-resolution recording, better speakers, and a 40% longer battery life lasting up to eight hours. Meta is also reportedly working to expand its smart glasses portfolio by developing a pair of high-fashion AI glasses with Prada. Prada renewed an eyewear licensing agreement with EssilorLuxottica for the next ten years in December. Related: Apple Is Reportedly Developing AI Smart Glasses to Compete with Meta and Google Meanwhile, other major tech companies, including Apple and Google, are preparing to enter the smart glasses market following Meta's success. Bloomberg reported earlier this year that Apple is working on smart glasses that could be released by the end of 2026, and is preparing to differentiate the glasses with a new chip that could elevate their performance. While Apple works behind the scenes, Google made a formal announcement in May that it was committing $150 million to develop AI glasses with Warby Parker. The glasses will have AI features, like translating from one language to another in real-time, and are expected to launch next year.

Ray-Ban Meta Sales Triple as Glasses Become 'Next Computing Platform' | PYMNTS.com

By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions. The designer, manufacturer and distributor of vision care products, eyewear and MedTech solutions also highlighted new and upcoming smart glasses and MedTech products in a Monday press release. "We are leading the transformation of glasses as the next computing platform, one where AI, sensory tech and a data-rich healthcare infrastructure will converge to empower humans and unlock our full potential," EssilorLuxottica Chairman and CEO Francesco Milleri and Deputy CEO Paul du Saillant said in the release. "The success of Ray-Ban Meta, the launch of Oakley Meta Performance AI glasses and the positive response to Nuance Audio are major milestones for us in this new frontier." AI is driving a smart glasses boom, with several companies betting on these products to become the next popular connected wearable, PYMNTS reported in February. These AI-powered smart glasses are encased in traditional frames of various styles, so users don't look out of place in public, but they carry serious electronics to power AI capabilities like online searches and translations. EssilorLuxottica announced in September that the company and Meta formed a new long-term agreement that extends their collaboration on smart eyewear technology into the next decade. The company said the deal built on the success of their Ray-Ban Meta glasses and set the stage for future innovations in wearables.

EssilorLuxottica Shares Climb After Ray-Ban Maker Touts Smart Glasses Sales

EssilorLuxottica shares rose after executives at the company behind Ray-Ban and Oakley were upbeat on the growth potential of a smart-glasses partnership with Meta and said U.S. price increases would help it mitigate tariffs. The European eyewear company is looking to expand beyond its traditional business of making glasses and optical lenses and has pushed into the smart-eyewear market, launching products that add artificial-intelligence features under a partnership with Facebook owner Meta Platforms. Strong growth of Ray-Ban Meta smart glasses helped EssilorLuxottica report higher revenue for the June quarter and the company signaled it made a positive start to the current quarter. Shares in EssilorLuxottica traded 6.3% higher in European morning trading, taking their year-to-date gain to 11%. "With Oakley, with Ray-Ban and maybe with some other brands, we don't expect to keep the same pace. We expect to accelerate," EssilorLuxottica Chairman and Chief Executive Francesco Milleri told analysts during an earnings call. EssilorLuxottica said Ray-Ban Meta sales more than tripled in the first half and the company is launching a second line of glasses powered by AI in collaboration with Meta, Oakley Meta. Tariffs and a higher proportion of revenue coming from Ray-Ban Meta smart glasses hurt EssilorLuxottica's profitability, but the group was able to partially mitigate those impacts, Chief Financial Officer Stefano Grassi said. EssilorLuxottica raised prices in the U.S. by a single percentage digit and is trying to diversify its supply chain in response to tariffs, Grassi said. The full benefits of the price increases will show up in the company's second-half results, he added. July started well for the company, Grassi said, citing positive trends in its biggest markets, North America and the Europe, Middle East and Africa region. "We are very happy with the trend that we've seen, the two most important regions started at a very solid pace," Grassi said. The company said late Monday that second-quarter revenue grew 7.3% when excluding currency movements to total 7.175 billion euros ($8.32 billion), helped by an improvement in North America. Net profit for the half year rose 1.6% to 1.39 billion euros, the company said. Write to Adria Calatayud at [email protected]