On Friday, the stock price of EssilorLuxottica, the parent entity of the renowned Ray-Ban brand, soared to an unprecedented peak, climbing by more than 10%. This surge came hot on the heels of the company's announcement of an outstanding quarterly performance, which highlighted a significant uptick in sales for the Ray-Ban Meta smart glasses.

As per EssilorLuxottica's Thursday report, its sales for the third quarter witnessed an 11.7% year-on-year increase, soaring to €6.9 billion (roughly equivalent to $8.1 billion). This not only exceeded market forecasts but also represented the company's most stellar quarterly showing. The company's CFO (Chief Financial Officer) remarked that these AI-powered smart glasses played a pivotal role, contributing over 4 percentage points to the overall sales growth. In light of the robust market demand, EssilorLuxottica has decided to expedite its capacity expansion initiatives for these glasses, bringing them forward ahead of the original schedule.