Ray-Ban maker EssilorLuxottica says Meta smart glasses are boosting growth [MSNBC.com]
ESSILOR LXTTCA UNSP/ADR (ESLOY)
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Source: MSNBC.com
EssilorLuxotticaMeta"Clearly there is a lift coming from Ray-Ban Meta wearables as a product category," CFO Stefano Grassi said on the company'sthird-quarterThe European eyewear company said sales in in the quarter grew 11.7% year-over-year to 6.9 billion euros (about $8 billion) from 6.44 billion euros a year earlier. Of that growth, more than 4 percentage points came from wearables, which includes the Meta products, the company said.In 2019, Meta and Luxotticainked a dealOakley Meta HSTN smart glassesworkingLuxottica, which also oversees several popular brands like Vogue Eyewear and Persol, has been heavily pushing internet-connected glasses that work with Meta's -powered digital assistant. The technology allows users to play music, take photos and perform other actions similar to how they would use smartphones."We believe that glasses will be the future," Grassi said, adding that the wearables business is profitable. "Glasses will materially replace most of the functionality that t
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