Latest news with #Milleri
Fashion Network
30-04-2025
- Business
- Fashion Network
EssilorLuxottica considers relocating production from Asia to the U.S. amid trade policy changes
EssilorLuxottica, the Franco-Italian eyewear maker behind brands such as Ray-Ban, may move part of its production to the United States in response to U.S. tariffs, CEO Francesco Milleri said on Wednesday. "We won't rush a decision," Milleri told a shareholders' meeting of the group in Paris, adding that 'in three or four months the situation could be clearer.' This month, U.S. President Donald Trump, in a surprising reversal, said he would temporarily reduce the hefty tariffs previously imposed on dozens of countries. 'When the situation stabilizes, we'll understand which kind of manufacturing we can move to the U.S. because it's not only a matter of timing and investment but to find [workers with] the right capabilities,' Milleri said, adding that for this reason, production based in Italy and France cannot be moved. 'We can really think about moving from Thailand and Mexico. But we don't want to move too early,' he added. The group already runs several manufacturing sites in the United States. Milleri also confirmed that the company is actively exploring acquisition opportunities. 'M&A is in the DNA of our company. We have many dossiers on the table—small, mid-size and big companies. We need to add many more competencies and technologies to our portfolio,' he said. He added that he is confident EssilorLuxottica will be able to finalize some strong deals this year and next. Looking ahead, Milleri said the group is willing to reinforce its chip design capabilities, expand into the treatment and care of eye diseases and invest in artificial intelligence services.
Yahoo
30-04-2025
- Business
- Yahoo
EssilorLuxottica to consider moving part of its production to US
MILAN (Reuters) -Eyewear maker EssilorLuxottica, whose brands include Ray-Ban, could move part of its production to the United States as a result of U.S. tariffs, its chief executive said on Wednesday. "We won't rush a decision," CEO Francesco Milleri told a shareholders' meeting of the Franco-Italian company in Paris, adding that in three or four months the situation could be clearer. This month U.S. President Donald Trump, in a stunning reversal, said he would temporarily lower the hefty tariffs he had imposed earlier on dozens of countries. "When the situation stabilises we'll understand which kind of manufacturing we can move to the U.S. because it's not only a matter of timing and investment but to find (workers with) the right capabilities," he said, adding that for this reason production based in Italy and France cannot be moved "We can really think if we can move from Thailand and Mexico. But we don't want to move too early," he added. The group already has some plants in the U.S. The EssilorLuxottica CEO also said the group is considering possible acquisitions. "M&A is in the DNA of our company, we have many dossiers on the table, small, mid-size, big companies... we need to add much more competencies and technology to our portfolio," Milleri said. He added that he is confident that group would be able to clinch some good deals over this year and next. Milleri said the group is willing to reinforce its chip design capabilities, to expand into the field of treatment and care of eye diseases and to invest in artificial intelligence services. Sign in to access your portfolio
Reuters
30-04-2025
- Business
- Reuters
EssilorLuxottica to consider moving part of its production to US
Companies MILAN, April 30 (Reuters) - Eyewear maker EssilorLuxottica ( opens new tab, whose brands include Ray-Ban, could move part of its production to the United States as a result of U.S. tariffs, its chief executive said on Wednesday. "We won't rush a decision," CEO Francesco Milleri told a shareholders' meeting of the Franco-Italian company in Paris, adding that in three or four months the situation could be clearer. The Reuters Tariff Watch newsletter is your daily guide to the latest global trade and tariff news. Sign up here. This month U.S. President Donald Trump, in a stunning reversal, said he would temporarily lower the hefty tariffs he had imposed earlier on dozens of countries. "When the situation stabilises we'll understand which kind of manufacturing we can move to the U.S. because it's not only a matter of timing and investment but to find (workers with) the right capabilities," he said, adding that for this reason production based in Italy and France cannot be moved "We can really think if we can move from Thailand and Mexico. But we don't want to move too early," he added. The group already has some plants in the U.S. The EssilorLuxottica CEO also said the group is considering possible acquisitions. "M&A is in the DNA of our company, we have many dossiers on the table, small, mid-size, big companies... we need to add much more competencies and technology to our portfolio," Milleri said. He added that he is confident that group would be able to clinch some good deals over this year and next. Milleri said the group is willing to reinforce its chip design capabilities, to expand into the field of treatment and care of eye diseases and to invest in artificial intelligence services.
Reuters
13-02-2025
- Business
- Reuters
Essilorluxottica to boost production capacity for smart glasses
MILAN, Feb 13 (Reuters) - Eyewear maker EssilorLuxottica ( opens new tab plans to boost its production capacity for smart glasses and hopes to expand its collaboration with Meta (META.O), opens new tab to other brands, Chief Executive Francesco Milleri said late on Wednesday. EssilorLuxottica and Meta have been collaborating since 2019, creating two generations of Ray-Ban branded smart glasses, and last year agreed a new long-term deal that will take both companies "into the next decade". Smart glasses have a computer built into them and microphones that allow the wearer to use voice commands to connect to smartphones and other devices. EssilorLuxottica's CEO said that the group has sold more than 2 million units of Ray-Ban Meta since their launch in September 2023. "The rate of activation and the time of utilization have been constantly increasing since the launch, showing that this product is becoming part of our daily life," Milleri said in a post-results conference call with analysts. The CEO said the group is thinking about new releases with new features and new brands. "Consistently with our open model, we look at this product like a shared platform ready to embark on third-party brands and new functions, also in the form of subscription services", he added. Milleri said the company was expanding its production capacity for Ray-Ban Meta, set to reach 10 million annual units by the end of next year. This could also be used for other smart glasses and Nuance Audio glasses, which invisibly integrate an open-ear hearing solution. Deputy CEO Paul du Sallant said the additional production would be in China and other plants in Southeast Asia.
