Eyewear giant EssilorLuxottica’s third-quarter revenue from Europe, the Middle East and Africa (EMEA) region climbed by 9.2% at the constant exchange rates to $2.3 billion (€2.26 billion), from $2.1 billion for the same period a year earlier, driven by the wholesale and retail segments.
The maker of Oakley and Ray-Ban sunglasses’ consolidated revenue for the quarter totaled $6.4 billion for the three months to September 30, an 8.2% increase at constant exchange rates compared to the prior-year period of $5.5 billion.
Professional Solutions has posted high-single-digit growth in the EMEA region, thanks to the sun business, with strong luxury brands —Prada almost doubling — and the lens business’s solid performance. The division recorded a 7.8% gain in revenues to reach an overall $3 billion in the quarter.
France, Turkey, and the Middle East benefitted the wholesale business, with “sound growth” in Spain, Italy, and the UK, particularly boosting the sun frame category.
After a rebound in the first and second quarters, the region’s retail business witnessed double-digit growth, boosted by the sun business thanks to high-season tourism.
Brick-and-mortar retail posted an 8.5% increase in revenue to a record $3.4 billion, compared to $2.9 billion in the year-ago period.
Sunglass Hut advanced by 60% in revenue due to a boost by luxury brands, the company said in its latest financial report.
Optical businesses such as Salmoiraghi & Viganò generated double-digit revenue growth in Italy, while the GrandVision network posted a solid performance, despite last year's record comparison base, led by the UK, France and Spain, last year.
The e-commerce business, on the other hand, recorded a mid-single-digit growth in all main banners contributing in the EMEA.
All regions grew in the first nine months, with EMEA up 12.9% to hit $6.7 billion, compared to $6 billion the same period last year.
