Essilorluxottica grows 8.4% in third quarter fueled by Latin America

Optics giant Essilorluxottica is moving steadily. The company, born from the merger between the manufacturer of lenses Essilor and that of glasses Luxottica, has closed the third quarter of the year with a revenue of 4.3 billion euros, 8.4% more than the same period of the year previous.

By regions, Latin America has led the group’s business in the period, with a growth of 12.1%. In Europe, the company’s sales have increased 6.7% while in North America they have risen 8.9%. In Asia, Oceania and Africa, meanwhile, the group’s revenue has increased by 7.8%.

Essilorluxottica expects to end 2019 with a growth of between 3.5% and 5%

By product categories, the business of lenses and optical instruments has increased its revenue by 9.9% in the third quarter, while the sunglasses division has grown by 13.6%. By distribution channels, the wholesale has increased its sales by 4.4% in the third quarter. Retail, meanwhile, has experienced a growth of 7.8% in the same period.

The groups results were boosted by its ecommerce strategy and it has explained in a statement that it maintains its forecasts for the end of the year. Essilorluxottica plans to end the year with an increase of between 3.5% and 5% of its revenue.