Episode Details

EssilorLuxottica reported Q3 2026 revenue of 7.49 billion euros, up 7.2 percent at constant currency, beating the 7.36 billion euro consensus — on top of last year's record quarter (+11.7%). For the first time, management disclosed wearables revenue: 486 million euros, up 20%. Asia-Pacific grew 15.7%, myopia management (Stellest) grew 24%, and direct-to-consumer comped 6.8%. Alex and Jordan break down the regional walk, the smart-glasses engine and the September 24 new generation, Stellest and Nuance Audio Plus, Grassi's margin and tariff color, the vertically integrated franchise case, and the honest bear read: margin-dilutive wearables, the dropped margin targets, and Kering-Google XR and Apple competition.