EssilorLuxottica's Smartglasses Likely to See More Resilient Demand
Dow Jones09-22
0743 GMT - EssilorLuxottica is expected to benefit from more durable smartglasses demand, analyst at RBC Capital Markets Piral Dadhania says in a research note. The Franco-Italian eyewear group has been under pressure from worries of new competition coming into the segment. EssilorLuxottica develops smartglasses in partnership with Meta. The stepdown in growth from last year's fourth-quarter peak reflects the natural evolution of the category, the analyst says. This goes from rollout of the product and early-adoption demand to a more durable long-term growth rate, he adds. While smartglasses remain a positive contributor to group growth, competition in this category should continue to (rise, Dadhania says. Shares fall 0.4%.
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