EssilorLuxottica shares hit record high as Meta AI glasses fuel investor optimism
Shares of EssilorLuxottica (ESLX.PA) soared 14% on Friday, reaching an all-time high and adding nearly $20 billion in market value, as enthusiasm over its AI-powered Ray-Ban Meta smart glasses surged among investors.
The Paris-listed eyewear giant, founded by Leonardo Del Vecchio, reported third-quarter sales up 11.7% year-on-year to €6.9 billion ($8.1 billion), marking its strongest quarterly performance ever. The results exceeded analyst expectations, buoyed by growing demand for smart and wearable technologies.
Although the Ray-Ban Meta smart glasses currently account for only a small portion of EssilorLuxottica’s total revenue, they have become a major growth catalyst. Chief Financial Officer Stefano Grassi said the AI-enabled glasses contributed over four percentage points to sales growth, prompting the company to expand production capacity ahead of schedule.
“The exponential growth of wearables provided an extra boost to top-line performance,” EssilorLuxottica said.
Barclays analysts predicted that smart glasses could become the most disruptive innovation since smartphones, forecasting sales of 60 million units globally by 2035.
The stock’s surge marked the biggest daily gain since 2008, lifting the company’s market capitalization to €126.5 billion and driving the Stoxx Europe Luxury 10 Index up more than 7% on the week.
Priced between $379 and $799, the latest Ray-Ban Meta models feature built-in displays and generative AI capabilities. Expansion to Canada, France, Italy, and the UK is planned for early 2026.
Analysts at J.P. Morgan called the glasses a “material growth driver,” while Equita raised its annual wearables forecast, estimating the category could contribute around €1 billion to sales this year.