Following the release of its annual results earlier this week, EssilorLuxottica has announced the launch of a share buyback program, which "reflects the group's confidence in its value creation potential and its long-term prospects."

To implement this program, the Franco-Italian optics giant has entrusted an investment services provider with a mandate to purchase up to 5 million shares, depending on market conditions.

This share buyback program officially begins on February 13. The repurchased shares are intended to be allocated, transferred, or sold to employees or executive officers of EssilorLuxottica or its affiliated companies.