Meta Platforms is reportedly in discussions to purchase approximately 5% of EssilorLuxottica, the company behind Ray-Ban smart glasses and the world’s largest eyewear manufacturer, according to the Wall Street Journal. People familiar with the matter have revealed that this stake could be valued at about 4.33 billion euros ($4.73 billion), with EssilorLuxottica’s market value recently pegged at 86.50 billion euros, based on data from LSEG.
This strategic move could enhance Meta’s influence over the development of smart glasses, a sector where major tech companies, including Apple, are heavily investing in augmented and mixed-reality technologies. Following the news, shares of EssilorLuxottica listed in Paris saw a 3% increase, while Meta’s shares rose by 1.2%.
Formed by the merger of France’s Essilor and Italy’s Luxottica in 2018, EssilorLuxottica is primarily owned by Delfin, the holding company of Luxottica’s late founder Leonardo Del Vecchio, which holds a nearly 33% stake.
The collaboration between Meta and EssilorLuxottica has already produced the Ray-Ban Meta smart glasses, launched in 2021, which have become a significant element of Meta’s consumer product lineup. According to EssilorLuxottica CEO Francesco Milleri, the latest version of these glasses, released in October, has outperformed the sales of the previous model in just a few months.
Analysts are optimistic about the future of these smart glasses, which now feature a Meta AI assistant and can livestream a user’s view directly to social platforms like Facebook and Instagram. Bernstein analysts recently expressed confidence that the Ray-Ban Smart Glasses “may only be a generation or two away from finding product market fit.”
A third generation of these smart glasses is anticipated to be available by the 2025 holiday shopping season, as per the WSJ. While EssilorLuxottica has declined to comment on these reports, Meta has not yet responded to inquiries for comment.
