Overview

• The investment reinforces a partnership launched in 2020 that has produced two generations of Ray-Ban Meta smart glasses since 2021
• Meta is evaluating additional purchases to increase its holding to about 5 percent in EssilorLuxottica
• The deal aligns with Meta’s strategy to secure proprietary AI hardware and control device distribution
• EssilorLuxottica CEO Francesco Milleri has said the goal is to lead wearable computing with glasses capable of replacing most tech devices
• The companies recently unveiled Oakley Meta Performance AI Glasses combining Meta’s artificial intelligence with Oakley’s Prizm lenses and design