European Growth Leaders 2026

Annual ranking data providerLSEG WorkspaceUsed with permission · acknowledgements

An independent academic observatory making Europe’s listed growth companies visible.

Francesco Castellaneta, Full Professor of Strategy, SKEMA Business School · Scientific Committee Diego Zunino and Jackie Krafft

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Annual rank46

France · Technology

Vusion

Vusion identifies electronic shelf labels as a component of retail digitalisation in its company materials.

+137%revenue growth
FY2022–FY2025
+656%net-income growth
FY2022–FY2025
+68%stock return
FY2022–FY2025
−36%2026 stock return
current context only

Company profile

How a shelf becomes a connected retail operating system

Vusion turns the physical shelf into a managed digital system. Retail headquarters can send prices and product data through VusionCloud; store associates use electronic labels, light cues and location data to find, replenish and pick products; Captana cameras and VusionLive convert shelf conditions into prioritised tasks. The same infrastructure supports shopper navigation and retail media across supermarkets, convenience chains and other store formats.

Shelf hardware

One rail links head office, associates and shoppers

Head office sends a price or promotion through the cloud instead of asking associates to replace paper tickets. At the shelf, V300 labels add NFC and seven-colour LEDs; freezer models work at -25°C. EdgeSense moves power, Bluetooth communication and precise location into the rail, while VusionOX supports over-the-air updates and has been proven with more than 120,000 devices in a single-store setup.

Software and data

A shelf gap can become a prioritised store task

Captana's shelf-edge cameras monitor gaps and misplaced stock without tracking individuals, then pass alerts into store workflows. VusionLive combines IoT signals with sales, loyalty and third-party data so associates can prioritise replenishment and managers can execute central campaigns. Pulse adds AI recommendations for pricing, assortment, waste and store performance, while VusionCloud manages the underlying tags, sensors and software fleet.

Rollout at scale

Walmart moved the system from pilot to industrial deployment

Vusion's 2023 Walmart contract made the operating model concrete: a first phase covered 500 U.S. locations and 60 million digital shelf labels. Walmart said electronic changes reduce the time associates spend replacing labels. By April 2026, Vusion expected the EdgeSense rollout to finish during the year and reported expansion into Walmex Express and Supercenters in Mexico.

Scale and strategy

A global installed base supports the shift beyond labels

By 31 December 2025, Vusion reported 650 million labels in 75,000 stores, serving more than 350 large retailers across Europe, Asia and the Americas. That footprint underpins a strategic shift from proprietary label hardware toward cloud software, services and non-label solutions. Carrefour provides the European template: EdgeSense rails, cloud-connected electronic labels and Captana are planned across its French hypermarkets and supermarkets by 2030.

Current 2026 update

What has changed in 2026?

Deployment update on 15 July 2026 · 15 July 2026

Deployment update on 15 July 2026latest official update
4company-specific highlights
−36%2026 stock return · context only

IFRS revenue

First-quarter IFRS revenue rose 34.1% to EUR 288.6 million.

Three months ended 31 March 2026 · EUR 288.6m · +34.1%

Value-added services

Value-added-services revenue increased 53% to EUR 51 million, including EUR 28 million of recurring revenue, up 61%.

Three months ended 31 March 2026

Cloud-connected labels

The installed base comprised approximately 435 million cloud-connected electronic shelf labels, versus 188 million one year earlier.

Three months ended 31 March 2026

Decathlon deployment

Decathlon had equipped 700 stores across 54 countries and three continents with Vusion solutions by the second quarter of 2026.

Deployment update on 15 July 2026

Annual record

Ranking history

Future editions add rows; they do not rewrite the 2026 record.

EditionMeasurement periodRankRevenue growthNet-income growthStock return
2026FY2022–FY202546+137%+656%+68%