Meta Seeks 5% Stake in Ray-Ban Maker EssilorLuxottica

Investment aims to strengthen smart glasses collaboration and enhance AR/VR capabilities.

Meta plans to invest up to $5 billion in EssilorLuxottica to deepen its smart glasses partnership.
The new generation of Ray-Ban Meta smart glasses has outperformed previous versions in sales.
Google is also in talks with EssilorLuxottica to integrate its AI assistant into future eyewear.
EssilorLuxottica recently acquired streetwear brand Supreme for $1.5 billion.
Meta has received US antitrust clearance for the potential investment.