EssilorLuxottica to expand into the hearing solutions market with a new disruptive technology at the intersection of sight and sound
25 Julio 2023 - 11:00AM
EssilorLuxottica to expand into the hearing solutions market with a
new disruptive technology at the intersection of sight and sound
EssilorLuxottica to expand into the
hearing solutions market with a new
disruptive technology at
the intersection of sight and sound
Supported by proprietary hardware and software,
the Company aims to eliminatethe stigma associated with traditional
hearing solutions
.
Charenton-le-Pont, France (July
25, 2023 –
6:00 pm
CEST) – EssilorLuxottica, a
global leader in the design, manufacture and distribution of
advanced lens technology and iconic eyewear, announced today that
it will expand into the hearing solutions market. With a dedicated
Super Audio team, in-house R&D resources and enabled by its
100% acquisition of Israeli startup Nuance, the Group will
introduce a new breakthrough hearing technology to benefit the 1.25
billion consumers suffering from mild to moderate hearing
loss1.
“Meeting critical consumer needs with the
boldest actions is part of our DNA. While sight remains our core
business – and growing the optical market our strategy – we are
uniquely positioned to open up a new avenue for the industry by
addressing the need for good hearing with innovative technologies.
Our proprietary hardware and software, combined with our design and
manufacturing capabilities, will enable us to pair hearing
solutions and prescription glasses into one groundbreaking product,
and to bring it to market everywhere through our open network
model. As we did in the vision space, we will be the first to
remove the stigma of traditional hearing solutions, replacing it
with comfort and style,” said Francesco Milleri, Chairman and CEO,
and Paul du Saillant, Deputy CEO at EssilorLuxottica.
Similar to vision care, the hearing solutions
market is underpenetrated for a number of reasons, from the
visibility of traditional hearing aids, to discomfort and price.
According to research2, globally there is an 83% service gap. The
Group’s Super Audio team is working on its first product to shift
that paradigm, embedding a high-quality hearing technology into
fashionable eyeglasses seamlessly, expected to launch in the second
half of 2024. The audio component will be completely invisible,
removing a psychological barrier that has historically stood in the
way of consumer adoption of traditional hearing aids.
As part of its open business model,
EssilorLuxottica will leverage traditional hearing aid channels as
well as select optical wholesale customers, to make this technology
accessible to consumers in 150 countries. The Company will also
engage its retail network to support the new category and expand
its reach across the world.
Footnote1
World Health Organization, World Report on Hearing, 2021, p.
402 World Health Organization, World Report on
Hearing, 2021, p. 178 fig. 3.9a
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