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Meta Buys 3% Stake in Ray-Ban Maker EssilorLuxottica to Boost AI Wearables

  • tech360.tv
  • Jul 9
  • 1 min read

Meta Platforms has acquired nearly a 3% stake in EssilorLuxottica, the parent company of Ray-Ban, as it deepens its investment in artificial intelligence-powered wearable technology.


Black glasses in a brown leather case with the text "Ray-Ban Meta" visible. Simple, elegant setting against a white background.
Credit: META

The stake, valued at approximately EUR 3 billion (USD 3.52 billion), was purchased at the current market price, according to a source familiar with the matter. Meta is reportedly considering increasing its share to around 5% over time.


The move comes amid rising consumer interest in AI-integrated wearables. Meta has been expanding its presence in the sector, following the success of its Ray-Ban Meta smart glasses, which have sold millions of units since their 2023 launch.


Man in sunglasses and dark shirt looks into distance, outdoors with blurred trees. Text bubble reads, "Hey Meta, how strong is the wind today?"
Credit: META

Last month, Meta partnered with Oakley to release the Oakley Meta HSTN smart glasses. The device includes a hands-free high-resolution camera, open-ear speakers, water resistance and Meta AI features.


EssilorLuxottica Chief Executive Francesco Milleri said in February that the company planned to increase its smart glasses production capacity and aimed to expand its collaboration with Meta to other brands.


EssilorLuxottica declined to comment on the stake acquisition.

  • Meta acquires nearly 3% stake in EssilorLuxottica for about USD 3.52 billion

  • Stake may increase to 5% over time

  • Meta expands wearable tech with Oakley Meta HSTN smart glasses


Source: REUTERS

 
 
 

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