EssilorLuxottica Shares Hit Record High on AI-Powered Ray-Ban Meta Boom
Paris-based eyewear giant EssilorLuxottica saw its shares soar by 14 percent on Friday, reaching an all-time high amid surging investor enthusiasm driven by the popularity of its AI-powered Ray-Ban Meta smart glasses, Reuters reported. The market capitalization of the company has risen by nearly $20 billion as a result.
In the third quarter of this year, the company’s sales rose by 11.7 percent year-on-year, generating €6.9 billion in revenue—the highest quarterly result in the company’s history.
Buoyed by the strong market response to its smart glasses, EssilorLuxottica has announced plans to accelerate production. Chief Financial Officer Stefano Grassi stated that “smart glasses alone contributed four percentage points to the company’s sales growth.”
Barclays Bank has forecast that smart glasses could become “the biggest technological revolution since mobile phones,” projecting that global sales could reach 60 million units by 2035.
EssilorLuxottica’s shares posted their largest single-day gain since 2008, pushing the company’s market capitalization to €126.5 billion.
The latest Ray-Ban Meta models are priced between $379 and $799 and are currently available in select stores. The company plans to expand sales to Canada, France, Italy, and the United Kingdom by early 2026.
