EssilorLuxottica CEO expresses interest in expanding smart glasses production
Life
Image: Ray-Ban
Meta Platforms has made a strategic move in the world of smart glasses. The company has taken a stake of nearly 3% in EssilorLuxottica, the parent company of Ray-Ban. The investment, estimated at around €3 billion, allows Meta to benefit from the growing demand for AI-driven wearables. This was reported by a source to Reuters.
The acquisition comes as the tech giant is investing billions in the development of its AI infrastructure. By integrating artificial intelligence into wearable technology, the company hopes to attract new users and expand its reach beyond social media.
Bloomberg News reported that the company is considering further investments in EssilorLuxottica, which could see Meta’s stake increase to about 5% over time. This possible move follows the commercial success of the Ray-Ban Meta glasses, which launched in 2023 and have already sold millions of units.
Last month, Meta entered into a partnership with Oakley for the launch of the Oakley Meta HSTN. This is a smart pair of glasses featuring a hands-free camera, open speakers, water resistance, and integration with Meta AI.
Francesco Milleri, CEO of EssilorLuxottica, previously stated that the company wants to expand its production capacity for smart glasses. Additional collaborations with Meta could also follow, including through other brands within the eyewear giant’s portfolio.
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