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    EL   FR0000121667

ESSILORLUXOTTICA

(EL)
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Real-time Quote. Real-time Euronext Paris - 11/26 11:35:28 am
178.88 EUR   -5.07%
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EssilorLuxottica : Facebook and EssilorLuxottica Announce Collaboration for Smart Glasses

09/16/2020 | 01:15pm EST

Facebook and EssilorLuxottica Announce
Collaboration for Smart Glasses

Menlo Park, California, and Charenton-le-Pont, France (September 16, 2020 – 7:15 pm CEST) – Facebook, Inc. and EssilorLuxottica today announced a multiyear collaboration to develop the next generation of smart glasses. The announcement was made by Mark Zuckerberg during Facebook Connect, an annual conference held virtually from California.

The partnership will combine Facebook apps and technologies, Luxottica’s category leadership and iconic brands, and Essilor’s advanced lens technology to help people stay better connected to their friends and family. The first product will be branded Ray-Ban, the world’s most popular eyewear brand, and is scheduled to launch in 2021. It will combine the best of both worlds – innovative technology and fashion-forward style – to create smart glasses that consumers will truly love wearing.

 

We’re passionate about exploring devices that can give people better ways to connect with those closest to them. Wearables have the potential to do that. With EssilorLuxottica we have an equally ambitious partner who’ll lend their expertise and world-class brand catalogue to the first truly fashionable smart glasses,” said Andrew Bosworth, Vice President of Facebook Reality Labs.

 

We are especially proud of our collaboration with Facebook, which projects an iconic brand like Ray-Ban into an increasingly digital and social future. Combining a brand that is loved and worn by millions of consumers around the globe with technology that has brought the world closer together, we can reset expectations around wearables. We are paving the way for a new generation of products destined to change the way we look at the world,” commented Rocco Basilico, Chief Wearables Officer at Luxottica.

 

Product name, specs, software capabilities, pricing, and other details will be shared closer to launch in 2021.

 

Contacts:

 

Facebook, Inc.                                                                                               EssilorLuxottica

Kyla Keefe                                                                                                      Marco Catalani

Communications Manager, Facebook Reality Labs                              Head of Corporate Communications

e-mail: Kyla@fb.com                                                                                    e-mail: media@essilorluxottica.com

Facebook, Inc.
Founded in 2004, Facebook's mission is to give people the power to build community and bring the world closer together. People use Facebook's apps and technologies to connect with friends and family, find communities and grow businesses.

EssilorLuxottica
EssilorLuxottica is a global leader in the design, manufacture and distribution of ophthalmic lenses, frames and sunglasses. 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 Company brings together the complementary expertise of two industry pioneers, one in advanced lens technology and the other in the craftsmanship of iconic eyewear, to set new industry standards for vision care and the consumer experience around it. Influential eyewear brands including Ray-Ban and Oakley, lens technology brands including Varilux and Transitions, and world-class retail brands including Sunglass Hut and LensCrafters are part of the EssilorLuxottica family.

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Financials
Sales 2021 19 612 M 22 151 M 22 151 M
Net income 2021 1 956 M 2 209 M 2 209 M
Net Debt 2021 9 404 M 10 621 M 10 621 M
P/E ratio 2021 39,6x
Yield 2021 1,34%
Capitalization 78 886 M 89 268 M 89 098 M
EV / Sales 2021 4,50x
EV / Sales 2022 3,85x
Nbr of Employees 144 888
Free-Float 63,8%
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Mean consensus OUTPERFORM
Number of Analysts 21
Last Close Price 178,88 €
Average target price 183,38 €
Spread / Average Target 2,51%
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Managers and Directors
Francesco Milleri Chief Executive Officer & Non-Independent Director
Stefano Grassi Co-Chief Financial Officer
David Wielemans Co-Chief Financial Officer
Leonardo del Vecchio Executive Chairman
Jean Carrier-Guillomet Co-Chief Operating Officer
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