EssilorLuxottica, the luxury eyewear maker, has announced a remarkable 9% increase in sales for the fourth quarter of the year, despite the challenging business environment caused by the ongoing Covid-19 pandemic. The company’s solid performance demonstrates its resilience and ability to navigate through difficult times.

However, EssilorLuxottica did face difficulties in China due to Covid-19 restrictions, resulting in a decline in sales in the region. This setback was primarily attributed to a severe Covid-19 wave that hit China during the quarter. In contrast, other luxury brands like Hermès, LVMH, and Richemont experienced success, benefiting from the resilience of their affluent customer base during the crisis.

During the final quarter of the year, EssilorLuxottica reported revenues of €6.11 billion ($6.49 billion), marking a significant 9.4% increase compared to the same period last year. The company’s best performing region was Europe, Middle East, and Africa (EMEA), with sales growing by 6.2% at constant exchange rates to reach €2.09 billion. The strong sales growth in EMEA was driven by excellent performances in various countries including France, Italy, Spain, the UK, and Scandinavia.

Despite the challenging circumstances, EssilorLuxottica remains optimistic about its future prospects. The company has proposed a substantial 29% increase in its dividend to €3.23 per share, reflecting its confidence in its performance and commitment to rewarding shareholders. This decision showcases the company’s confidence in its ability to continue providing high-quality eyewear products to customers worldwide.

To read more about EssilorLuxottica’s sales growth and performance, you can visit the following links:
1. EssilorLuxottica Full Year 2020 Results
2. Reuters Article on EssilorLuxottica’s Sales Growth