US EditionMeta takes around 3% stake in Ray-Ban-parent EssilorLuxottica, source says
MENLO PARK, CALIFORNIA, JUL 8 – Meta's €3 billion ($3.5 billion) investment strengthens its AI smart glasses development and expands manufacturing and distribution with EssilorLuxottica, the global eyewear leader.
- Meta acquired a minority stake just under 3% in EssilorLuxottica, the world's largest eyewear maker, valued around 3 billion euros.
- This investment follows a partnership since 2019 through which Meta and EssilorLuxottica jointly developed Ray-Ban Meta smart glasses and plan AI glasses.
- EssilorLuxottica owns brands like Ray-Ban and Oakley, and the companies launched waterproof Oakley Meta glasses with cameras and speakers in June 2024.
- Since late 2023, Meta and EssilorLuxottica have sold more than 2 million Ray-Ban Meta smart glasses, making them the top-selling item in 60% of Ray-Ban outlets across EMEA.
- Meta's investment signals intent to expand AI smart glasses globally, supported by a £12 million Cambridge audio lab advancing spatial audio for future devices.
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Meta Takes Minority Stake in Ray-Ban Maker EssilorLuxottica to Deepen Smartglasses Push
MENLO PARK, Calif. (VINnews) — Meta Platforms Inc. has acquired a minority stake in EssilorLuxottica, the maker of Ray-Ban and Oakley eyewear, in a move aimed at strengthening its position in the growing smartglasses market. Join our WhatsApp group Subscribe to our Daily Roundup Email The deal, valued at approximately €3 billion ($3.5 billion), gives […]
Meta Invests Billions in World's Largest Eyewear Company After Ray-Ban Smart Glasses Success
Meta is doubling down on AI smart glasses with an investment of $3.5 billion in EssilorLuxottica, the world's largest eyewear company. Read more about Meta, here.
The shares of the manufacturer of Ray-Ban, EssilorLuxottica, increase more than 5% on the Stock Exchange after it is known that the technological giant Meta has acquired a minority stake in the company in the face of the growing appetite of consumers for the electronic devices wearable (designed to carry in the body) driven by artificial intelligence.In particular, the titles of EssilorLuxottica advance 5.8% in Euronext Paris.
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