Meta Reportedly Takes Stake in EssilorLuxottica to Boost AI Wearables Push
By F.M.I.E Sources
Key Highlights:
- Meta has reportedly acquired a minority stake in EssilorLuxottica, the parent company of Ray-Ban.
- The move signals Meta’s deepening focus on AI-powered wearable tech.
- EssilorLuxottica and Meta have collaborated since 2019, launching two generations of Ray-Ban Meta smart glasses.
Shares of Ray-Ban maker EssilorLuxottica jumped more than 5% on Wednesday following reports that tech giant Meta has taken a minority stake in the company, signaling its expanding ambitions in the AI wearables space.
According to F.M.I.E Sources, Meta has invested approximately €3 billion ($3.51 billion) in EssilorLuxottica at market value and is reportedly exploring the possibility of increasing its stake to 5%. The development marks a strategic push into hardware and wearable technology, long championed by Meta CEO Mark Zuckerberg.
Both companies declined to issue formal comments when contacted by F.M.I.E.
At 9:10 a.m. London time, EssilorLuxottica’s stock was trading 5.3% higher, buoyed by optimism over the reported partnership expansion.
Meta and EssilorLuxottica first partnered in 2019, launching the first generation of Ray-Ban Meta smart glasses in 2021. While the debut drew attention, it was the second-generation model that gained significant traction, offering enhanced functionality including a Meta AI voice assistant. These glasses, when paired with a smartphone, can recognize landmarks, suggest recipes by scanning ingredients, and even send voice messages via WhatsApp and Messenger.
EssilorLuxottica CEO Francesco Milleri disclosed earlier this year that over 2 million units of the AI-enabled glasses were sold since late 2023. The company now plans to scale annual production to 10 million units by 2026.
In June, the two companies revealed plans to expand their smart glasses line with versions under the Oakley and Prada brands, signaling a broader play for the luxury tech wearables market.
Stay tuned as F.M.I.E tracks the evolving collaboration between Meta and EssilorLuxottica, two major forces reshaping the future of intelligent eyewear.