EssilorLuxottica SA

EssilorLuxottica, headquartered in Paris and Milan, is the world's dominant eyewear company, combining the leading maker of lenses with the owner of brands such as Ray-Ban and Oakley and a vast retail network. Vertical integration from lens to store, plus a push into smart glasses, gives it strong pricing power in a resilient market. The company has paid and grown its dividend steadily, funded by dependable cash flow from an essential, defensive product. A moderate, rising yield backed by a dominant position in eyewear gives it a solid, quality dividend profile.