EssilorLuxottica (Group), the French parent company of Sunglass Hut, Oakley, Supreme, and Ray-Ban, among other eyewear brands, is reporting a successful first half of 2026, delivering nearly double-digit revenue growth while increasing adjusted operating profit by 15 percent in constant currency (CC) terms.

“Once again, our performance reflects the power of our strategy and our ability to execute with excellence as we continue to transform our industry,” commented Francesco Milleri, chairman and CEO, and Paul du Saillant, deputy CEO, EssilorLuxottica, in a second quarter and first half earnings release. “We drove strong momentum across all regions and businesses, fueled by our vision care and eyewear innovation and the expansion of our distribution network, with Top Charoen in Thailand further strengthening our global footprint.”

“We made significant progress across our key growth drivers, from the acceleration of our myopia management portfolio to the sustained success of AI-powered wearables, driven by our iconic Ray-Ban and Oakley brands and our core expertise,” they continued. “While doing so, we continued to invest in the future, reinforcing our leadership to develop the next generation of intelligent Optical systems through our partnership with Applied Materials.”

First Half Summary
In the first half of the year EssilorLuxottica grew at the pace of 9.7 percent in revenue at constant currency (CC) rates, as the solid growth of the second quarter (+8.7 percent) moderated from the 10.8 percent first quarter growth in what the company said was “a more unsettled macro environment on a global scale.”

From a geographical perspective, North America, EMEA and Latin America all reportedly posted high-single digit growth in revenue at constant exchange rates in both the three and the six months, while Asia-Pacific grew at a double-digit rate in both periods, driven by the strong growth of the business across the whole region. The region was also helped by the consolidation of Top Charoen’s retail networks in Thailand with almost 2,000 stores added since April.

From an operating segment standpoint, DTC (DTC) reportedly outpaced Professional Solutions, sequentially accelerating in comp-store sales growth in the second quarter (+8 percent) from +7 percent in the first quarter, with both Optical and Sun banners equally contributing across the regions. The company said this performance was primarily due to “excellent in-store execution.”

From the product category point of view, the Group’s portfolio of myopia management Lenses was said to confirm its strong growth pace, jumping 24 percent in the second quarter, said to be “driven by the supportive clinical evidence on the efficacy of the solutions offered as well as the wide articulation of their range by technology and price-point,” while AI glasses were said to confirm their exponential growth, almost doubling in sales in the second quarter versus last year’s Q2 period.

“Supported by an increasingly integrated business and industrial platform, and as we double down on the capabilities and technologies that will shape the future of our industry, the dedication and talent of our colleagues around the world remain our greatest asset,” the leadership continued. “With these foundations in place, we’ve never been better positioned to seize the opportunities ahead and accelerate our next chapter of growth.”

In the first six months of the year, the Group’s revenue 5.7 percent y/y grew 5.7 percent year-over-year (y/y) to €14,818 million in reported current exchange (CE) terms, and rose 9.7 percent at constant currency (CC) rates, with all the regions and segments “nicely growing and contributing.”

First-Half Revenue by Operating Segment

Professional Solutions In the first half of 2026, Professional Solutions posted revenue of €6,817 million, up 7.8 percent CC versus 2025 (+3.8 percent CE). The performance of the first half was driven by North America and Asia Pacific, up high-single digit and double digits respectively. Revenue increased by mid-single digit in both EMEA and Latin America. Among frame brands, Ray-Ban, Oakley and Miu Miu emerged as the top performers throughout the period. Innovation continued to drive growth in the lens category, led by the portfolio of myopia management solutions. DTC In the first half of 2026, the DTC segment posted revenue of €8,001 million, up 11.4 percent CC compared to 2025 (+7.3 percent CE). comp-store sales3 were up 7.5 percent. North America represented a positive growth driver over the period, while EMEA and Latin America accelerated in the second quarter. Both Optical and Sun stores contributed to the results. Consumer demand for AI glasses persisted across both online and offline channels. The consolidation of Optegra, Signifeye and Top Charoen also contributed to the results in the period.

Revenue by Geographical Area EssilorLuxottica’s geographical areas are North America, EMEA (i.e., Europe, including Turkey and Russia, together with the Middle East and Africa), Asia-Pacific and Latin America.

The adjusted gross profit amounted to €9,411 million in the six months, reaching 63.5 percent of revenue, 10 basis points higher than 2025 at both current and constant exchange rates1. The adjusted operating profit reached €2,751 million in the six months, representing 18.6 percent of revenue, compared to 18.1 percent in 2025, with a margin accretion of 50 basis points. CC, the margin rose to 18.9 percent of the revenue, 80 basis points higher than 2025.

The adjusted Group net profit amounted to €1,921 million in the six months, representing 13.0 percent of revenue, compared to 12.8 percent in 2025, a margin accretion of 20 basis points, or +50 basis points CC to 13.3 percent of revenue.

The IFRS operating profit and the Group net profit reported in the consolidated financial statements amounted to €2,296 million and €1,566 million respectively in the six months.

The consolidated free cash flow4 amounted to €1.07 billion in the six months, versus €0.96 billion in 2025.

The Group ended the first semester at the end of June with €1.93 billion in cash and cash equivalents and a net debt5 of €13.39 billion (including €3.91 billion lease liabilities), compared to a net debt5 of €10.85 billion at the end of December 2025.

Second Quarter Summary
In the second quarter, the Group’s revenue grew 7.2 percent in reported CE terms (+8.7 percent CC) y/y to €7,692 million.

Second Quarter Operating Segment Summary

Professional Solutions
Professional Solutions posted revenue of €3,454 million, up 4.9 percent CC (+3.8 percent CE) compared to the second quarter of 2025. Asia-Pacific was said to be the primary growth engine in the quarter, delivering mid-teen expansion, while North America, EMEA and Latin America recorded low-single-digit growth.

In Frames, Chanel and Miu Miu stood out among luxury brands, while Ray-Ban and Oakley were bolstered by the AI glasses category.

In Lenses, innovation was said to continue to propel the category’s performance, particularly in myopia management solutions under the Nikon and Kodak brands.

DTC
DTC revenue increased 10.2 percent y/y in reported CE terms to €4,237 million, and was up 11.9 percent CC compared to the second quarter of 2025. comp-store sales increased by 8 percent year/y, improving compared with the previous quarter.

The performance was said to be driven by EMEA and Latin America — both accelerating to high-single-digit comp-store sales growth — as well as by North America. Both Optical and Sun stores supported the results, with comp-store sales in Optical banners improving to high-single-digit growth. The company said consumer demand for AI glasses continued to boost both Brick & Mortar and e-commerce channels.

Optegra and Signifeye’s eye clinics have been consolidated since October 2025 and February 2026 respectively, while Top Charoen, Thailand’s largest Optical retail chain, has been consolidated since April 2026.

Second Quarter Region Summary

North America
North America posted revenue of €3,249 million, up 7.2 percent CC (+4.7 percent CE) y/y compared to the second quarter of 2025, with DTC delivering double-digit growth and driving the quarterly performance in the region.

In Professional Solutions, revenue reportedly grew at a low-single-digit pace. The recent launch of new Ray-Ban Meta models designed for prescription wearers apparently provided further support to the AI category’s growth.

The Analog frame business contributed positively as well, with luxury licensed brands trending well and Miu Miu, Chanel and Jimmy Choo standing out as the top performers in the quarter.

In Lenses, Shamir and Eyezen supported the performance in the single vision category, while Varilux was said to confirm its positive trajectory in progressive Lenses. The company said Stellest, the first-ever FDA market-authorized spectacle lens clinically proven to slow myopia progression in children, continued to build momentum in its U.S. roll-out, supported by ongoing education and engagement initiatives with eye care professionals.

By trade channel, Key Accounts contributed positively, while independents continued to benefit from the solid performance of alliance members and partnership programs. In DTC, the region confirmed its double-digit growth trajectory, supported by both Brick & Mortar stores and E-commerce. comp-store sales grew 7 percent overall. In Optical, comp-store sales advanced in high-single digits, led by LensCrafters, where both volumes and price-mix were positive, reflecting consistently effective execution. The recently launched subscription program continued to expand across the LensCrafters store network, starting to contribute to growth.

Sunglass Hut delivered high-single-digit comp-store sales growth, sustained by consistent demand for traditional sunglasses and an additional boost from AI glasses. E-commerce grew double digits, accelerating compared with the previous quarter, with SunglassHut.com emerging as the top performing website.

EMEA
The EMEA region posted revenue of €3,047 million in Q2, up 8.0 percent CC (+6.7 percent CE) compared to the second quarter of 2025, with the sound performance of the DTC segment driving the results.

Professional Solutions recorded low-single-digit growth, also said to reflect the impact of the geopolitical situation in the Middle East. The performance was said to be nonetheless supported by a positive price-mix contribution in the core business, as well as the continued growth of AI glasses.

Lenses stood out as the best-performing category, with Stellest, Eyezen, Varilux and Transitions emerging as the main growth drivers.

In Analog Frames, Ray-Ban and Oakley delivered a positive contribution to quarterly results, while most luxury licensed brands saw softer trends, except for Miu Miu and Chanel. Among the major countries, Italy, Turkey, Spain and the UK delivered the strongest performances, while Germany and the Netherlands showed softer trends.

In DTC, the region continued to deliver double-digit growth, supported by an acceleration in comp-store sales, which advanced in high-single digits, and by the consolidation of Optegra and Signifeye’s eye clinics.

In Optical, comp-store sales rose in high-single-digits, supported by both volumes and price-mix, with the latter benefiting from the continued execution of the lens premiumization strategy. Advanced eyecare tests are now available in 12 countries, while tele-optometry has been rolled out across 15 countries. The subscription program continued to expand, covering more than 2.7 million members across 19 countries, including both prescription glasses and contact Lenses. In sun, comp-store sales grew double digits, with Italy, Turkey and Spain standing out as the best-performing countries, while the Middle East was affected by the geopolitical tensions.

Asia-Pacific
Asia-Pacific posted revenue of €979 million in Q2, up 17.0 percent CC (+15.2 percent CE) compared to the second quarter of 2025, recording another quarter of broad-based growth. Both Professional Solutions and DTC delivered double-digit performances and accelerated compared with the first quarter.

In Professional Solutions, growth was healthy and well diversified across the major countries. China, India, Japan and South Korea all advanced at a double-digit pace.

In China, the performance was once again bolstered by the myopia management portfolio, with Nikon and Kodak DOT Lenses providing a strong contribution and Stellest 2.0 gaining good traction. The frame category was also supportive, with Optical models driving. In luxury, Prada, Versace and Burberry outpaced other brands.

India maintained its double-digit growth trajectory, with both Lenses and Frames “progressing nicely” and a further boost coming from AI glasses, which continued to benefit from strong demand in the country.

During the quarter, the AI glasses category was rolled out into new markets across the region, with the launch in Singapore in April and in Japan and South Korea in May, further enlarging its reach.

In DTC, comp-store sales were up mid-single-digits in both Optical and Sun. Results in the quarter were said to be further supported by the consolidation of Top Charoen, Thailand’s largest Optical retail network, which counts almost 2,000 stores across the country.

OPSM in Australia and New Zealand returned to mid-single-digit comp-store sales growth, driven by the lens premiumization strategy, with Varilux and Stellest standing out as the main contributors.

In Japan, Washin Optical accelerated, benefiting from targeted customer engagement initiatives and a refreshed frame assortment, as well as the launch of AI glasses.

Sunglass Hut posted mid-single-digit growth at CC rates in the region, sustained by the ramp-up of AI glasses.

Latin America
Latin America posted revenue of €417 million, up 6.7 percent CC (+14.1 percent CE) compared to the second quarter of 2025, with the DTC segment expanding double digits and driving the results in the region.

In Professional Solutions, the overall performance softened compared with the previous quarter.

Brazil remained broadly stable, with a positive contribution from the frame category, driven by Ray-Ban and Oakley AI glasses. Among the other major countries, Mexico experienced a slowdown, despite a good performance in AI glasses and in medical technologies for eye care professionals, but with traditional Frames temporarily impacted by order phasing. Colombia recorded solid growth across categories, with both Frames and Lenses advancing at a double-digit pace.

In DTC, comp-store sales accelerated to high-single-digits, with both Optical and Sun contributing.

In Optical, performance across the region was supported by the successful execution of the lens premiumization strategy. Among the key countries, Brazil, Mexico, Peru and Colombia reportedly stood out as the main growth drivers. In both Mexico and Brazil, demand for AI glasses further supported the performance in the quarter.

Outlook
Rooted in our medtech transformation, the company said the long-term outlook reflects the scaling of its AI-driven healthcare platform and the next phase of its journey toward becoming a global leader in advanced and integrated eye health, with the ambition to enhance human performance.

With that in mind, on average, over the next five years, the company is planning to deliver a solid growth of its total revenue and a broadly aligned growth of the adjusted operating profit.

Image courtesy Oakley/EssilorLuxottica