Economy

Sun comes through again at the maker of Ray-Ban | Financial

In the first three months of this year, the Italian-French company sold just under 4.1 billion euros in glasses, lenses and other optical products. That is 7.3 percent more than a year earlier, when the pandemic first hit large parts of the world in March.

Compared to the first quarter of 2019, sales were still 3.6 percent lower, but if the effect of unfavorable exchange rates is omitted, sales grew by 2 percent. This is mainly due to the strong North American market, where a vigorous vaccination campaign is already enabling more relaxation than in Europe. China, the second most important market for EssilorLuxottica, also contributed to the recovery.

EssilorLuxottica is also the intended new owner of GrandVision, Pearle’s parent company. The European Commission recently gave its blessing for the acquisition worth more than 7 billion euros, on the condition that GrandVision sells its Eye Wish chain, among other things. But legal disputes are pending between the buyer and the seller, so it is still uncertain whether the deal will go ahead. EssilorLuxottica made no statements about GrandVision in its quarterly report.

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