A look at how the world’s largest eyewear company fared in terms of revenue growth in key regions across the globe
New Delhi: Milan-based Italian eyewear conglomerate Luxottica dominates the world’s eyewear market. The company owns multiple well-known eyewear brands like Ray-Ban, Oakley and Oliver Peoples among others. Apart from owning eyewear brands, it also has licences for brands like Gucci, Prada, and Tiffany—a total of 150 plus eyewear brands, in some way or another, are controlled by Luxottica.
With over 17,600 stores and 2 lakh employees, it is the biggest eyewear and eyecare company in the world.
In the financial year 2022, the revenue of the company rose by 13.9% to 24.4 billion euros from 21.4 billion euros at the current exchange rate, out of which 11.7 billion euros were accumulated by professional solutions (representing the wholesale business of the group) and 12.7 billion euros were accumulated by direct to consumer (representing the retail business of the group, i.e., the supply of the products and services directly to consumers through the physical stores operated by the group or the online channel). The gross profit of the company also grew by 14.5% to 15.6 billion euros from 13.6 billion euros in the financial year 2022.
Here’s a look at its revenue growth across the globe:
Latin America showed the highest growth of 24.2% as the revenue increased from 1.1 billion to 1.4 billion euros.
The second place was obtained by the company’s biggest market, which is North America. The revenue in North America grew from 9.8 billion to 11.4 billion euros, which is 16.5% growth in a year.
Asia Pacific, a growing market for Luxottica, also did exceptionally well with revenues growing from 2.5 billion to 2.8 billion euros, manifesting an 11.8% growth.
The company didn’t do as well in EMEA (Europe, Middle East, and Africa) as compared to other regions, but still showed a decent growth of 10% in terms of revenue, growing from 7.9 billion euros to 8.7 billion euros.
The company continues to emerge as the biggest brand in every region. As of 31 December 2022, 4304 stores out of its 17,687 stores were franchises and 13,383 corporate stores across the globe as per the company’s financial reports.