EssilorLuxottica sees 'unparalleled potential' in optical lenses sector

EssilorLuxottica, a global provider of eye care and eyewear, is doubling down on its long-term commitment to China, where it sees vast potential for growth across age groups — from managing childhood myopia to meeting increasingly sophisticated consumer demands in premium eyewear.

"We have always had confidence in the China market and will continue to deepen our roots here," said Kok Leong Lim, president of professional solutions at EssilorLuxottica Greater China.

"We have high expectations for the future performance of the China market," Lim said during a recent exclusive interview with China Daily, adding that the China market's contribution is steadily rising.

EssilorLuxottica reported 26.5 billion euros ($30.74 billion) in revenue for 2024, up 6 percent year-on-year, with adjusted operating profit margins rising to 17 percent — a 50-basis-point improvement. Optical products accounted for three-quarters of its global revenue.

In China, its childhood myopia management brand Stellest grew roughly 50 percent in the fourth quarter of 2024.

Lim said he sees a massive and largely untapped market in China's eye health sector. He noted that an estimated 600 million people are living with myopia, including over 100 million children and teenagers, a demographic experiencing earlier onset and faster progression of vision problems.

"The high incidence and early onset of childhood myopia is extremely serious but also presents enormous development opportunities," Lim said. "Children are now developing myopia between the ages of 6 and 10, earlier than the previous 8 to 12."

Earlier this month, the company unveiled its latest Essilor Stellest 2.0 lenses, designed to provide twice the power and higher efficacy for slowing childhood myopia progression.

Lim said the launch of the latest lenses is another example of the company's constant innovation in providing advanced solutions for children to fight against myopia.

The first Essilor Stellest glasses were also released earlier this year, specially designed to help the effect of Essilor Stellest lenses in slowing myopia progression.

"Our research shows that 90 percent of children focus on wearing comfort when choosing eyeglasses, and 87 percent focus on aesthetics such as style and color," said Michele Ginocchietti, general manager of high-end professional solutions at EssilorLuxottica Chinese Mainland.

"Based on our in-depth insights into the needs of Chinese consumers, Essilor Stellest glasses were developed based on anthropometric data of Chinese children aged 3-12 and tailored to three age stages, offering safety, stability, and comfort whether kids are playing sports or studying."

"Eyewear in China is no longer merely functional, but is also considered an accessory to express their personality," Ginocchietti highlighted. The company is working with hospitals, clinics and retailers to enhance access and improve vision care delivery across diverse lifestyle scenarios, including work, travel and sports.

Consumers expect technology, style and scenario-based performance. For example, consumers need lenses that enhance color constraint to reveal details that are hidden by naked eyes, while office workers seek to protect their eyes from computer screens, he added.

"We strongly believe in China market growth and we are strongly committed to introducing the best innovation to support consumers and those facing everyday vision challenges," Ginocchietti said. "China has unparalleled potential as a growing domestic market."

To unlock China's full potential, EssilorLuxottica is also expanding optometry training programs in partnership with academic and industry bodies to build up the professional talent pool.

In its 2025 Government Work Report, China announced that it would vigorously boost consumption and investment, and stimulate domestic demand across the board.

With a series of existing policies taking effect gradually and more supportive measures in the pipeline, Sun Xuegong, director-general of the department of policy study and consultation at the Chinese Academy of Macroeconomic Research, said, "I believe we have great growth potential."

Looking ahead, Lim remains optimistic about China's prospects despite global headwinds.

"Today's economic challenges are global, not just limited to China," Lim said. "In fact, China may be handling them better than most. I am very optimistic about China's future."

As the country accelerates its domestic consumption strategy and health-tech transformation, EssilorLuxottica is positioning itself as both a commercial player and a strategic partner — embedding innovation, expertise and public health alignment into every lens.

"We're not just a company selling products," Lim said. "We are building long-term solutions to help people manage their vision health proactively. That's what sustainable growth in China will be built on."