Retail in Asia


Ray-Ban owner EssilorLuxottica sees 22 percent uptick in APAC sales

Global eyewear giant EssilorLuxottica announced on October 21 that consolidated revenues for the recently ended third quarter totalled EUR 6.394 billion (USD 6.31 billion), representing a year-on-year increase of 8.2 percent at constant exchange rates.

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Asia-Pacific was a star performer for the owner of Ray-Ban, with revenues reaching 761 million EUR for the three months, representing a 22 percent uptick and positioning APAC as the market with the biggest growth for the French-Italian company during the quarter. Comparatively, Latin America increased 12 percent, North America inched forward 3 percent, and Europe grew 9 percent.

By channel, the company’s global Professional Solutions segment grew 7.8 percent to 3.029 billion EUR, pushed on by APAC sales, which were boosted by mainland China turning mid-teens positive and the strong growth of all the other countries in the region.

Likewise, the company’s global direct-to-consumer sales totalled 3.365 billion EUR, up 8.5 percent, helped by its APAC market, which strongly bounced back from slightly negative in the second quarter to double-digit growth in the third quarter.

Bricks-and-mortar retail in APAC also “strongly recovered,” driven by both optical and sun, benefiting from the easy comparison in Australia, which was affected by restrictions in the same period of 2021. Store re-openings in China, following severe lockdowns in the first half of this year, also supported the recovery, the company added.

“We are pleased with the solid performance our company delivered in the third quarter of this year, with all the regions posting growth, from Asia-Pacific and Latin America, to EMEA and North America,” said Francesco Milleri, chairman and CEO, and Paul du Saillant, deputy CEO at EssilorLuxottica.

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“The results once again demonstrate the power of our business model as well as the determination and agility of our almost 200,000 people worldwide, committed to the long-term view we shared at our Capital Market Day this year.”