In terms of products, Crizal anti-reflective lenses, Transitions GEN 8 photochromic lenses and Eyezen anti-fatigue solutions were some of the best sellers during the quarter. This was especially true in dollar stores, while department stores and travel retail remained under pressure. Strong recovery driven by resilient optical business. Revenues in all regions were down double digits over the first nine months of the year. In terms of trade channels, sales were driven by independent ECPs, who benefitted from the consumer preference for the high street, and by e-commerce with strong performances at EyeBuyDirect.com, Clearly.ca and VisionDirect.co.uk. Wholesale in Mexico and retail in Chile, Guatemala and Honduras followed a similar trend, with double-digit revenue declines in the quarter, hiding a return to growth in September after stores could reopen. This was underpinned by the Company’s flexible supply chain, which supported all product categories at both global and local levels. sunglasses, shopping malls and lower-tier Chinese cities. Global revenue share of EssilorLuxottica in 2019, by geographical ��� In Japan, revenue returned to year-on-year growth during the quarter, thanks to a strong performance of blue-cut lenses. With the second wave of COVID-19 leading to new lockdowns in Europe, our priority remains the protection of our employees and the engagement with our customers and stakeholders, while we continue to closely manage business continuity and to control costs. In addition, the Company has undrawn credit facilities of Euro 5.4 billion. Formed in 2018, its mission is to help people around the world to see more, be more and live life to its fullest by addressing their evolving vision needs and personal style aspirations. The new environment has proved more supportive of cost synergies with key achievements in the fields of procurement, IT, lab unification and back-office. 3 NOVEMBER 2020 3Q 2020 revenue - Third-Quarter 2020 Revenue. E-commerce was up strong double digits for the banner. The Wholesale division suffered in both Mexico and Brazil, where approximately 70% of the STARS doors were still closed at the end of September. The divisional performance was also supported by a consistent pricing strategy, despite the generally more promotional environment. Direct e-commerce continued to outperform, with revenue from mono-brand platforms up almost two thirds at constant exchange rates1, boosted by Ray-Ban.com, Oakley.com and SunglassHut.com, all mostly driven by sunglasses sales as well as helped by focused promotions. The European STARS doors experienced an encouraging trajectory in sell-out data in the optical business over the period. Translated by Erin Floyd Release December 11, 2020 French and Italian eyewear group Essilor Luxottica is reconsidering a multi-billion dollar acquisition of its Dutch distributor Grandvision, people familiar with the matter told Bloomberg. Among the regions, North America posted flat revenue at constant exchange rates1 supported by the optical business (EyeMed and Target materially positive, LensCrafters neutral at adjusted comparable store sales4), Asia-Pacific was single-digit negative at constant exchange rates1 sustained by a continued strong performance at OPSM in Australia/New Zealand (up double digits in sales1), while Europe and Latin America posted more negative trends. Argentina posted year-on-year revenue growth for the quarter as a whole. In the US, FGX was still down year-on-year despite double-digit growth in e-commerce and good sell-through trends, especially in dollar stores, while department stores and travel retail continued to suffer. The division enjoyed a good product mix thanks among others to anti-fatigue and blue-cut lenses, which alleviate the eye strain from the increased screen time triggered by the pandemic. The Lenses & Optical Instruments division declined by 14.4% at constant exchange rates1, a better performance than the Group average illustrating the structural resilience of optical needs. Over the next few quarters, EssilorLuxottica intends to leverage its integrated assets and vertical business model to safeguard its ability to outperform the eyecare and eyewear industry. Strong recovery driven by resilient optical business EssilorLuxottica SA, the maker of Ray-Ban sunglasses, is reconsidering its agreed 7.3 billion-euro ($8.8 billion) purchase of optical retailer GrandVision NV on ��� Demand for surfacing and coating machines remained subdued. The division continued to be challenged by the wait-and-see attitude of several customers regarding their capital investments. Target Optical returned to its solid growth trajectory finishing the quarter with high-single-digit adjusted comparable store sales4 and the insurance business demonstrated strong resilience with sales up double digits at constant exchange rates1. Emerging markets3 were down year-on-year, with a magnitude reflecting their respective COVID-19 stage: sales in Latin America and India declined markedly year-on-year, while they were up materially in Greater China. Notes 1 Constant exchange rates: figures at constant exchange rates have been calculated using the average exchange ratesin effect for the corresponding period in the previous year.2 Free Cash Flow: Net cash flow provided by operating activities less the sum of Purchase of property, plant and equipment and intangible assets and Cash payments for the principal portion of lease liabilities according to the IFRS consolidated statement of cash flow.3 Fast-growing/emerging countries or markets: China, India, South Asia, South Korea, Hong Kong, Taiwan, Africa, the Middle East, Russia, Eastern Europe and Latin America.4 Adjusted comparable store sales: reflect, for comparison purposes, the change in sales from one period to anotherby taking into account in the more recent period only those stores already open during the comparable prior period. In Greater China, Xiamen Yarui Optical (Bolon) turned positive, up double digits year-on-year. As for other economies, trading conditions remained tough in markets such as Hong Kong, India, South Korea and the Philippines. A past winner of the Company’s See Change innovation challenge, it breaks down one of the key barriers to bringing vision care to the base of the pyramid: the lack of affordable testing tools. Blue-cut lenses benefitted from intense screen usage in the new COVID-19 environment. The more discretionary character of the business and marked exposure to touristic flows weighed on the results of Sunglass Hut, which posted negative high-single-digit adjusted comparable store sales4. Charenton-le-Pont, France (November 3, 2020 – 7:00am) – EssilorLuxottica today announced that consolidated revenue for the third quarter of 2020 totalled Euro 4,085 million, representing a year-on-year decline of 5.2% (-1.1% at constant exchange rates1) and highlighting a strong sequential recovery compared to the second quarter of 2020. Third Quarter 2020 RevenueStrong recovery driven by resilient optical business. In 2019, EssilorLuxottica had over 150,000 employees and consolidated revenues of Euro 17.4 billion. The business was primarily boosted by the overall restocking of the independent channel, which restarted activity after restrictions in the second quarter caused more than two thirds of wholesale customers worldwide to close.In terms of geographies, the divisional performance was driven by a strong North America and a positive Europe, while Asia and Latin America continued to be under significant COVID-related pressure. In the US, FGX was still down year-on-year despite double-digit growth in e-commerce and good sell-through trends, especially in dollar stores, while department stores and travel retail continued to suffer. Retail performance in Greater China was affected by a third wave of COVID-19 cases in both Hong Kong and Beijing, but progressive improvements were seen in the rest of Mainland China with an overperformance in the optical category. Third Quarter 2020 Revenue Strong recovery driven by resilient optical business * Revenue down 1.1% at constant exchange rates1 (-5.2% at current exchange rates) * Optical business and developed markets back to year-on-year growth1 * E-commerce continued to grow fast, up 40%1 year-to-date to a record Euro 878 million * Strong Free Cash Flow2 and liquidity Charenton-le-Pont, ��� All files can be downloaded as pdfs. Luxottica's shared value approach; People, the real driving force of Luxottica; The safety culture; The responsible management of the supply chain; Protecting The Environment. The positive performance at constant exchange rates1 reflected both the structural nature of vision needs, increased consumer awareness about eye care brought about by COVID-19 and an element of pent-up demand. It was the division most severely hit during the second quarter, but also performed the sharpest rebound of all the divisions in the third quarter benefitting from the overall restocking activity of its client base. This will be done by launching innovative products, transforming the consumer journey, enhancing digitalisation and capitalizing on a robust supply chain. Statista. Its wholesale business was driven by strong momentum in optical frames and the success of new collections, while its retail business benefitted from new store openings. Charenton-le-Pont, France (March 6, 2020 ��� 7:00am) - The Board of Directors of EssilorLuxottica met on March 5, 2020 to approve the consolidated financial statements for the year ended December 31, 2019. November 3, 2020. GMO also started to improve trends during the quarter, especially in Chile, while Sunglass Hut Mexico continued to struggle. MJS sales improved sequentially but were still down year-on-year due to the retail chain exposure to. Global net sales of Luxottica 2007-2019; Global revenue of EssilorLuxottica 2018-2019, by geographical area; Global revenue of ... April 10, 2019. Online sales showed strong momentum in prescription eyeglasses. This was instrumental in rolling-out or accelerating major commercial initiatives, with partnership programmes dedicated to independent ECPs (EssilorLuxottica 360, Essilor Experts, STARS), the development of promising new categories such as myopia management (with the launch of Stellest) and the ramp-up of complete pairs (with Ray-Ban Authentic). Sunglasses & Readers sales were down single digits during the quarter with strong direct e-commerce revenue. The Lenses & Optical Instruments division posted revenue down 1.8% (up 2.7% at constant exchange rates1). They swiftly adapted to a challenging environment and a new way of working, enabling the company to continue its solid recovery. Uplift in Sales and Net Profit growth Strong foundation to accelerate synergy delivery Revenue growth at constant exchange rates 2 ��� While it is careful about the near-term evolution of COVID-19 and about the amount of pent-up demand potentially fuelling the current recovery, it is confident about the structural resilience of optical needs. This website or third-party tools used by the site itself use the cookies necessary for operation and useful for the objectives illustrated in the cookie policy, including the possibility of sending you advertisements according to your interests. (PRESS RELEASE) CHARENTON-LE-PONT, FRANCE ��� EssilorLuxottica announced that consolidated revenue for the third quarter of 2020 totalled Euro 4,085 million, representing a year-on-year decline of 5.2% (-1.1% at constant exchange rates1 ) and highlighting a strong sequential recovery compared to the second quarter of 2020. Wholesale revenue was down 30.4% at constant exchange rates1. All entities improved sequentially. For the first time, Essilor and Luxottica jointly launched a customer-facing fundraising campaign, leveraging the network of approximately 60 LensCrafters stores in China. The Company remains on track to deliver cumulative synergies of Euro 420 to 600 million as a net impact on adjusted5 operating profit by 2023. These included the extended rollout of Smart Shopper and in-store tele-optometry. The rest of the region posted mixed performances, with sales in India, Indonesia and the Philippines still negatively impacted by COVID-19. The Retail division registered revenue down 8.3% (-4.6% at constant exchange rates1), with the number of open corporate retail locations going from 90% of the total at the beginning of the period to more than 95% at the end of the quarter. Codes and symbols: ISIN: FR0000121667; Reuters: ESLX.PA; Bloomberg: EL:FP. Spain and the UK were the weakest performers as they continued to be penalised by a challenging COVID-19 business environment. EssilorLuxottica has become stronger in these unusual business conditions, which have shown the clear benefit of our resilient optical business and our balanced mix in terms of products, segments and geographies. This was instrumental in rolling-out or accelerating major commercial initiatives, with partnership programmes dedicated to independent ECPs (EssilorLuxottica 360, Essilor Experts, STARS), the development of promising new categories such as myopia management (with the launch of Stellest) and the ramp-up of complete pairs (with Ray-Ban Authentic). Nine-month 2020 revenue by operating segment. This was underpinned by the Company's flexible supply chain, which supported all product categories at both global and local levels. Customers continued to use their inventories to meet good in-store demand. Third-party e-commerce platforms played a role in the recovery, in particular in North America. Luxottica Group is a leader in premium, luxury and sports eyewear with over 7,400 optical and sun retail stores in North America, Asia-Pacific, China, South Africa, Latin America and Europe, and a Charenton-le-Pont, France (November 3, 2020 - 7:00am) - EssilorLuxottica today announced that consolidated revenue for the third quarter of 2020 totalled Euro 4,085 million, representing a year-on- year decline of 5.2% (-1.1% at constant exchange rates1) and highlighting a strong sequential recovery compared to the second quarter of 2020. Yarui Xiamen Optical (Bolon)’s optical frames and MJS’s online platforms kept attracting strong consumer demand. In parallel, the Company leveraged its unique ability to engage with independent eye care professionals. Post-lockdown conditions revealed the strong entrepreneurial spirit driving ECPs and their ability to adapt swiftly to the new business environment. A conference call in English will be held today at 10:30 am CET.The meeting will be available live and may also be heard later at:https://channel.royalcast.com/essilorluxotticaen/#!/essilorluxotticaen/20201103_1. The division continued to be challenged by the wait-and-see attitude of several customers regarding their capital investments. Business bounced back from lockdown lows of the second quarter mainly thanks to optical retail and e-commerce, while sunglasses were affected by extremely poor travel flows and tourists’ spending (Sunglass Hut was negative worldwide). The positive performance at constant exchange rates1 reflected both the structural nature of vision needs, increased consumer awareness about eye care brought about by COVID-19 and an element of pent-up demand. Combined with our drive to promote our large portfolio of brands, digitalise the consumer journey and more broadly reshape and transform the eyecare and eyewear industry, this all gives us great confidence in the Group’s future prospects for 2021 and beyond”, commented Francesco Milleri, Deputy Chairman and CEO of Luxottica, and Paul du Saillant, CEO of Essilor. Australia remained the most resilient market, with sales growth at constant exchange rates1 and adjusted comparable store sales4 both in positive territory. At the end of September, more than 95% of the Company's stores had reopened across the globe. (March 6, 2020). Developed markets returned to year-on-year revenue growth at constant exchange rates1 in the third quarter, driving the Company’s performance. Retail chains located in shopping malls lagged behind during the recovery. Luxottica Retail NA's annual revenues are over $500 million (see exact revenue data) and has over 1,000 employees. In Mainland China sales continued their strong momentum to post double-digit year-on-year growth in the quarter, driven by branded lenses, made-to-order prescription lenses, blue-cut and the children category. The Retail division registered revenue down 8.3% (-4.6% at constant exchange rates1), with the number of open corporate retail locations going from 90% of the total at the beginning of the period to more than 95% at the end of the quarter. In Latin America, sales decreased by 38.6% (-22.2% at constant exchange rates1) due to the continued impact of COVID-19. This was especially true in eye doctor alliances and with Essilor Experts. Valued-added lenses materially contributed to the optical performance, complementing the premium proposition in retail and sustaining the category price-mix (sales of lenses in Luxottica’s Retail up mid-to-high-single digits at constant exchange rates1 in the quarter).Among the regions, North America posted flat revenue at constant exchange rates1 supported by the optical business (EyeMed and Target materially positive, LensCrafters neutral at adjusted comparable store sales4), Asia-Pacific was single-digit negative at constant exchange rates1 sustained by a continued strong performance at OPSM in Australia/New Zealand (up double digits in sales1), while Europe and Latin America posted more negative trends.Direct e-commerce continued to outperform, with revenue from mono-brand platforms up almost two thirds at constant exchange rates1, boosted by Ray-Ban.com, Oakley.com and SunglassHut.com, all mostly driven by sunglasses sales as well as helped by focused promotions. In Lenses & Optical instruments, the business benefitted from strong consumer demand for the Company’s flagship lens brands: Varilux in the progressive category, Crizal in anti-reflectives, Transitions GEN 8 in photochromics and Eyezen in anti-fatigue. The EssilorLuxottica share trades on the Euronext Paris market and is included in the Euro Stoxx 50 and CAC 40 indices. Revenue synergies were somewhat delayed by temporary store closures but are gradually catching up, with important milestones reached on complete pairs (Ray-Ban Authentic), joint ECP programmes (EssilorLuxottica 360) and cross-selling. After a challenging first half of the year, sunglasses sales started to fare better. In Asia, Oceania and Africa, revenue declined by 11.4% (-8.3% at constant exchange rates1). Revenue troughed in April before staging a marked sequential recovery from May as the lockdowns were gradually lifted. The performance at optical retail improved visibly during the course of the quarter with all banners accelerating. This good performance was made possible by store re-openings in Rio and Sao Paolo and was driven by Kodak lenses in the mid-tier and by blue-cut products, Transitions photochromic lenses and the relaunch of the “Varilux em dobro” promotion in the high-end. It is classified as operating in the Eye Glasses & Contact Lens Stores industry. The new Varilux Comfort Max was launched in the USA during the quarter and the new Crizal Rock started in Canada in September. “We are pleased with the strong rebound that our Company delivered during the third quarter and proud of all of our employees who made this possible. For the first nine months of 2020, consolidated revenue amounted to Euro 10,315 million, representing a year-on-year decline of 21.2% (-20.0% at constant exchange rates1). New products were also supportive of the mix with Transitions GEN 8, AVA lenses and VR-800 measuring instruments continuing their ramp-up. On the other hand, Sunglass Hut suffered from its exposure to travellers, showing diverging adjusted comparable store sales4 between touristic and non-touristic locations and with the UK, Spain and France still in negative territory. Optical activities, which represent a solid 70% of the Company’s revenue, drove the regained sales momentum. This recovery was driven by independent ECPs who were quick to implement new safety protocols to leverage patient interactions, generate higher capture rates and improve their product mix.