Essilor Reports 12% Revenue Growth in 2014
Friday, February 20 2015 | 00 h 00 min | Financial News
With revenue up 12% and operations up 15.4%, Essilor maintained its growth in 2014.
Forty-five percent of the French giant’s revenue came from North America. Growth in Canada was supported by Varilux, Crizal, Transitions and Xperio, the impact of the “perfect pair” offer and the company’s widening presence in the mass retailing channel. The introduction of Kodak lenses and the partnership with Riverside Optical labs contributed to expansion in the mid-tier.
Looking beyond the figures, 2014 marked a strategic shift at Essilor. CEO Hubert Sagnières calls the group’s desire to expand its playing field, namely in photochromics, sunwear and online business, a true “cultural revolution.” This strategy was embodied in the acquisitions of Transitions Optical, Coastal.com and Costa, as well as in its collaborative effort with FGX International in a sunglass offering.