Ecommerce plays key part in Covid-19 recovery

For businesses around the world, the first six months of 2020 have been as turbulent as they will ever have encountered. In January, few will have fully appreciated the full impact that the pandemic would have on everyday life and balance sheets.

EssilorLuxottica says its top priority in recent months has been to protect staff and communities while supporting partners and customers. While working this specific need, the company managed to break even in the first half of 2020, despite overall revenue (€6.2bn) falling by 29% when compared to the first half of 2019. This was achieved, in part, by quick implementation of cost containment and cash preservation through measures such as compensation cuts, control of marketing expenses, rent relief, supplier negotiations, as well as the suspension of dividends, share buy-backs, capital expenditures and acquisitions.