Particle.news
Download on the App Store
11 ARTICLES
·
last wk.

Meta Acquires 3% Stake in EssilorLuxottica to Cement Smart Glasses Partnership

Valued at roughly €3 billion, the stake underscores Meta’s AI-driven eyewear strategy with the option to raise its share to 5%.

People walk behind a logo of Meta Platforms company, during a conference in Mumbai, India, September 20, 2023. REUTERS/Francis Mascarenhas/ File Photo
Image
Image
Image

Overview

  • Meta purchased a near-3% equity stake in EssilorLuxottica for about €3 billion at current market prices.
  • The investment underscores Meta’s shift into AI-powered eyewear with plans to increase its holding to around 5%.
  • The partners released Oakley Meta HSTN last month featuring a hands-free high-resolution camera, open-ear speakers, water resistance and integrated Meta AI.
  • EssilorLuxottica sold 2 million Ray-Ban Meta units since late 2023 and aims to boost annual smart-glasses production to 10 million units by the end of 2026.
  • This equity move expands a collaboration launched in 2019 that combines EssilorLuxottica’s design and distribution network with Meta’s AI infrastructure.