PARIS—EssilorLuxottica announced the launch of its share buyback program on July 29. The group said this launch reflects its confidence in its value creation and long-term prospects. With a view to implementing this program, EssilorLuxottica has granted a mandate to an investment services provider for the purchase of up to 4,000,000 EssilorLuxottica shares, depending on market conditions, over a period starting from July 29, 2024, up until October 29, 2025, the group said. The shares so acquired are intended to be awarded or transferred to employees and executive directors of EssilorLuxottica and affiliated companies, especially in the context of profit-sharing plans, bonus and performance share awards, stock option plans and employee share ownership plans, the group said.

EssilorLuxottica launches this share buyback program in accordance with the 24th resolution approved by the Annual General Meeting of April 30, 2024.

Earlier this month, EssilorLuxottica announced revenue growth of 5.3 percent for the first half of the year, as well as the acquisitions of diagnostic med-tech platform Heidelberg Engineering and Supreme, as reported in VMAIL.