EssilorLuxottica, the world's largest eyewear group and maker of Ray-Ban, reported strong first-half 2026 results, with revenue up 9.7% at constant exchange rates and adjusted operating profit rising 15%, as demand for AI-enabled smart glasses and myopia-management products continued to reshape the company's growth profile.

Smart glasses lead the way

Revenue from Ray-Ban Meta smart glasses, developed in partnership with Meta, more than tripled in the first half of the year, confirming wearable AI eyewear as one of the group's fastest-expanding categories. The myopia-management portfolio was another standout, with revenue growing 24% in the second quarter.

Margins expand

Adjusted operating profit reached €2.53 billion, with the adjusted operating margin expanding to 18.6% — an 80-basis-point gain at constant currency — supported by disciplined cost management, a richer product mix and efficiency gains across manufacturing and logistics. Free cash flow came in at €1.07 billion. Second-quarter revenue rose 8.7% at constant exchange rates, the group's latest in a run of consistently strong quarters.

Why it matters

The results underline how eyewear is shifting from a traditional accessories market toward a technology-driven category spanning wearable AI and medical-grade vision care — a transition in which EssilorLuxottica has taken an early lead.

Image source: Reuters