Meta, the parent company of Facebook, is considering a significant investment in EssilorLuxottica, the renowned eyewear giant responsible for the iconic Ray-Ban brand, as reported by the Financial Times.
The social media powerhouse has engaged in discussions with EssilorLuxottica to potentially acquire a minority stake in the company, which holds a valuation of €87 billion. This proposed investment aims to strengthen their existing collaboration, highlighted by the successful introduction of the Ray-Ban Meta smart glasses.
Introduced last year, the latest iteration of these smart glasses has surpassed its predecessor in sales within a remarkably short timeframe. This accomplishment underscores Meta’s commitment to wearable technology, including virtual reality headsets, as part of its strategic market positioning efforts.
On the other hand, EssilorLuxottica, a publicly traded entity on the Paris stock exchange, has been actively pursuing innovative initiatives to attract younger demographics through strategic partnerships and offerings.
While no definitive decision has been reached regarding Meta’s investment plans, ongoing discussions with Morgan Stanley advising on the potential deal have already had a positive impact. The news of these deliberations resulted in nearly a 5% surge in EssilorLuxottica’s stock price.
Neither Meta nor EssilorLuxottica have released official statements regarding this potential investment opportunity at this time. The collaboration between these two industry leaders commenced with the introduction of the initial Ray-Ban Meta glasses in 2021 and evolved with the launch of an enhanced version last October.
These upgraded smart glasses enable users to seamlessly livestream their perspective directly to Facebook and Instagram platforms. Moreover, users in the United States can leverage Meta’s AI assistant integrated into these glasses to access real-time information about their surroundings.
In recent developments, EssilorLuxottica made headlines by acquiring popular US streetwear brand Supreme for $1.5 billion. Sources close to this acquisition hinted at plans for EssilorLuxottica to introduce a new line of Supreme smart sunglasses in conjunction with Meta.
The future looks promising for this dynamic partnership between Meta and EssilorLuxottica as they continue to innovate and redefine wearable technology trends in today’s evolving landscape.
