EssilorLuxottica’s consolidated sales slowed slightly in the third quarter, but the Franco-Italian optics giant sees this as merely a normalization. It was penalized above all by the slowdown in distribution of its sunwear products in Europe and in its largest market, the United States.
In the third quarter, EssilorLuxottica posted consolidated sales up +5.2% at constant exchange rates on the previous year, to 6.3 billion euros ($6.68 billion).
Growth for the Ray-Ban group was held back by its retail distribution of sunwear products in EMEA and the Americas.
“As is usually the case in a slowing market, optics are leading the way, while sunglasses are lagging behind,” Bernstein commented in a note following the release of EssilorLuxottica’s results.
Growth in North America, the Group’s main market (45.1% of sales), decelerated to +2.1%, following a 7% increase in Q1 and +2.3% in Q2.
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Featured photo: © Swarovski x Luxottica
