Medtech transformation, 2026 to 2030
Evolution from an optical company into a leading medtech and big-data group
EssilorLuxottica makes lenses and frames and runs stores that sell them. In 2025 it sold more than seven million AI glasses with Meta and grew more than 10% for the first time in its history. It says it is becoming a medtech and big-data group, and has told investors to expect solid revenue growth, with profit growing at about the same pace, over the next five years.
EssilorLuxottica sold more than 7 million AI glasses in 2025, across all regions and brands.
Group revenue grew 15.2% in the second half of 2025 against 7.3% in the first, boosted by AI glasses.
AI-glasses revenue nearly doubled in the second quarter of 2026.
EssilorLuxottica runs 13,684 stores of its own, and 17,750 with franchised and licensed ones.
NA
North America
€12,787m, +11.6% · 3,814 stores
EMEA
EMEA
€10,779m, +11.8% · 6,046 stores
APAC
Asia-Pacific
€3,410m, +10.1% · 1,682 stores
LATAM
Latin America
€1,515m, +7.6% · 2,142 stores
Each row’s letters are as tall as the region’s revenue in the period chosen, against North America’s. Growth is at constant exchange rates. Stores are corporate stores at 31 December 2025.
EssilorLuxottica has two new categories: AI glasses made with Meta, and Nuance Audio, glasses with hearing aids built in.,
7m+
EssilorLuxottica sold more than 7 million Ray-Ban Meta and Oakley Meta AI glasses in 2025, across all regions and brands.
A pair for each million sold.
15,000
doors sell Nuance Audio in 12 markets at the end of its first year, after it added 6 countries in the fourth quarter.
A door for each thousand. Added in the quarter: Sweden, Denmark, Switzerland, Portugal, Australia, New Zealand.
Professional Solutions sells to eye care professionals. Direct to Consumer sells to the public, through its own stores and websites. Direct to Consumer grew 9.3% in the same quarter. Each lens is as big as the segment’s revenue.
EssilorLuxottica’s five-year outlook is solid revenue growth, with adjusted operating profit growing at a broadly aligned pace. It promises the relationship between the two, not a figure for either. We recommend saying what should grow together, especially when a new business is going to dilute one measure for a while.
US tariffs and the AI-glasses mix cut the gross margin from 63.5% to 60.9% and the adjusted operating margin from 16.7% to 16.0% in 2025, and EssilorLuxottica named both as the cause. We recommend naming the new business as the reason a headline figure fell, before someone else does.
In the fourth quarter of 2025 Professional Solutions grew 29.2% and Direct to Consumer 9.3%. We recommend reporting the parts of a business that grow at different rates separately, so a strong quarter in one is not mistaken for the whole.
Headwater is not connected with EssilorLuxottica S.A. EssilorLuxottica, Ray-Ban, Oakley, Nuance Audio, Stellest, and Optegra are trade marks of their owners. Meta is a trade mark of Meta Platforms, Inc. Updated 28 September 2026.