The French-Italian eyewear group is reporting total revenues of €17.85 billion, up 8% on 2019.
EssilorLuxottica has reported revenue growth in 2021, driven by its largest market, North America. Europe is doing well, thanks in part to the acquisition of Dutch optical retailer GrandVision, and expects a similar growth pattern going forward.
The group posted total revenues of 17.85 billion euros ($19.62 billion) excluding the contribution of GrandVision, whose acquisition was completed in the second half of the year. This figure is up 8% at constant exchange rates compared to 2019.
Sales including GrandVision amounted to €21.5 billion, 7.4% higher than 2019 on a comparable basis. Sales in North America, the group’s largest market, increased 13% to €9.87 billion compared to 2019, while sales in the Europe, Middle East and Africa region rose 3.7% to €7.95 billion.
In North America, physical sales grew by double digits compared to three years ago, while online sales increased by more than 75%. The EMEA region, affected by Covid-19 and restrictions, however, recovered well in the second half of the year although comparable physical sales remained slightly negative, according to the group.
Sales should continue to grow at a mid-single-digit rate this year and through 2026, the group said. EssilorLuxottica is also targeting an operating margin of 19% to 20% by 2026, up from 17% in 2021.
Francesco Milleri and Paul du Saillant, CEO and Deputy CEO of Essilor Luxottica, say they are delighted : “Looking at our financial results, 2021 was an extraordinary year for EssilorLuxottica. In the face of a still challenging environment, we were able to grow our sales and profits beyond pre-pandemic levels, meeting our target on sales and exceeding it on operating margin. In 2022, we continue to move forward at full speed, thanks to the confidence of our customers and partners, and the commitment of our teams, of which GrandVision’s 39,000 employees are now part of our family.”
Featured photo : © Getty Images
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Passionnée depuis son plus jeune âge par l’art et la mode, Hélène s’oriente vers une école de stylisme, l’Atelier Chardon-Savard à Paris, avec une option Communication. Afin d’ajouter des cordes à son arc, elle décide de compléter sa formation par un MBA en Management du Luxe et Marketing Expérientiel à l’Institut Supérieur de Gestion à Paris dont elle sort diplômée en 2020. Elle a notamment écrit des articles lifestyle et beauté pour le magazine Do it in Paris et se spécialise en rédaction d’articles concernant le luxe, l’art et la mode au sein du magazine Luxus Plus.********** [EN] Passionate about art and fashion from a young age, Hélène went to a fashion design school, Atelier Chardon-Savard in Paris, with a Communication option. In order to add more strings to her bow, she decided to complete her education with an MBA in Luxury Management and Experiential Marketing at the Institut Supérieur de Gestion in Paris from which she graduated in 2020. She has written lifestyle and beauty articles for Do it in Paris magazine and specializes in writing articles about luxury, art and fashion for Luxus Plus magazine.