Meta Invests $3.5 Billion in EssilorLuxottica, Boosting AI-Powered Smart Glasses Push

Meta Invests $3.5 Billion in World's Largest Eye-Wear Maker in AI Glasses Push

Meta Plaforms Inc. bought a minority stake in the world's largest eye-wear maker EssilorLuxottica SA, a deal that increases the US tech giant's financial commitment to the fast-growing smart glasses industry, according to people familiar with the matter. Facebook parent Meta acquired just under 3% of Ray-Ban maker EssilorLuxottica, a stake worth around €3 billion ($3.5 billion) at the current market price, said the people, who asked not to be identified because deliberations are private. Menlo Park, California-based Meta is considering further investment that could build the stake to around 5% over time, the people added, though those plans could still change.

Meta takes around 3% stake in Ray-Ban-parent EssilorLuxottica, source says

July 8 (Reuters) - Meta Platforms (META.O), opens new tab has acquired a nearly 3% stake in eyewear maker EssilorLuxottica (ESLX.PA), opens new tab, a source told Reuters on Tuesday, amid growing consumer interest in AI-powered wearable devices. Sprucing up its wearable technology with artificial-intelligence capabilities could help Meta attract new users as it invests billions of dollars in bolstering its AI infrastructure. EssilorLuxottica declined to comment, while Meta did not immediately respond when contacted by Reuters. Meta bought a stake worth around 3 billion euros ($3.52 billion) in EssilorLuxottica at the current market price and is considering further investments that could build its share to around 5% over time, according to Bloomberg News, which reported the development earlier in the day. The social media giant teamed up with Oakley to release AI-powered smart glasses last month, expanding its push into wearable tech after the success of Ray-Ban Meta glasses, millions of which have been sold since their launch in 2023. The "Oakley Meta HSTN" will feature a hands-free high-resolution camera, open-ear speakers, water resistance and Meta AI capabilities. EssilorLuxottica planned to boost its production capacity for smart glasses and hopes to expand its collaboration with Meta to other brands, Chief Executive Francesco Milleri had said in February. ($1 = 0.8527 euros) Reporting by Juby Babu in Mexico City; Editing by Pooja Desai Our Standards: The Thomson Reuters Trust Principles., opens new tab Suggested Topics:Artificial IntelligenceMedtech

Shares of Ray-Ban maker EssilorLuxottica jump 5% on reported Meta stake in AI push

Shares of Ray-Ban maker EssilorLuxottica rose as much as 5% on Wednesday on reports that Meta has taken a minority stake in the company amid growing appetite for AI-powered wearable devices. Meta reportedly bought a stake worth around 3 billion euros ($3.51 billion) in EssilorLuxottica at the current market price and is considering further investments that could expand its share to 5%, Bloomberg reported Tuesday, citing unnamed sources familiar with the matter. Meta declined to comment when contacted by CNBC while EssilorLuxottica did not immediately respond. EssilorLuxottica shares were up 4.85% by 8:20 a.m. London time. The investment, if confirmed, indicates Meta's growing inroads into wearable technology -- a key priority for CEO Mark Zuckerberg -- and an opportunity for the company to build out its own hardware. Meta and EssilorLuxottica first struck up a partnership in 2019, producing two generations of Ray-Ban Meta smart glasses. The initial version was debuted in 2021 but it was with the second generation model that the duo saw greater success. That version comes equipped with the Meta AI voice assistant and includes features that, when tethered to a smartphone, lets users identify city landmarks, get recipes when looking at ingredients and record and send voice messages on WhatsApp and Messenger. EssilorLuxottica CEO Francesco Milleri said in February the companies have sold 2 million pairs of the Meta Ray-Ban glasses since late 2023, and that he aimed to increase annual production to 10 million units by the end of 2026. The two companies said last month that they also plan to release versions of their AI-powered smart glasses under the Oakley and Prada brands.

Meta Invests $3.5 Bn in Ray-Ban Maker EssilorLuxottica SA | AIM

This partnership deepens their collaboration on AI-driven smart glasses, which includes the Ray-Ban models equipped with integrated cameras and voice-activated Meta AI. Meta has acquired a minority stake in EssilorLuxottica SA, the world's leading eyewear manufacturer, which also makes Ray-Ban, for expanding the tech giant's financial involvement in the smart glasses sector, as reported by Bloomberg. Meta acquired slightly less than 3% of Ray-Ban producer EssilorLuxottica, a stake currently valued at about $3.5 billion based on market prices. According to the report, the company is also contemplating additional investments that might boost its ownership to roughly 5% in the future, although these plans could still be subject to change. Based in Menlo Park, California, Meta's financial commitment to the eyewear company strengthens the alliance between the two firms, which have collaborated in recent years to create AI-driven smart glasses. Currently, Meta offers a pair of Ray-Ban glasses that launched in 2021, featuring integrated cameras and an AI assistant. The glasses come with built-in Meta AI, enabling users to interact through voice commands. Users can communicate with phrases like "Hey Meta" to ask questions, stream music or podcasts, make phone calls, and broadcast live on Instagram or Facebook. Meta states that the product is intended to help users "stay present and connected to who and what they care about most." Last month, the company unveiled Oakley-branded glasses in collaboration with EssilorLuxottica. Francesco Milleri, CEO of EssilorLuxottica, mentioned last year that Meta showed interest in acquiring a stake in the firm, but this plan did not materialise until now. For EssilorLuxottica, this agreement enhances its involvement in the tech sector, which could be advantageous if Meta's forward-looking initiatives succeed. Meta is also wagering on the possibility that people will eventually engage in work and leisure activities while using headsets or glasses, Bloomberg reported.

Meta Buys Stake in the Parent Company of Ray-Ban and Oakley, Report Says

Meta has collaborated with the eyewear company on smart Ray-Ban glasses since 2019 and plans to continue this work "into the next decade," according to press releases. Meta is sharpening its focus on wearable tech, buying a stake in eyewear giant EssilorLuxottica SA, Bloomberg reported Tuesday. Meta Platforms (META) acquired a nearly 3% stake in its AI-eyewear partner EssilorLuxottica, the parent company of Ray-Ban and Oakley, Bloomberg's article said, with the investment estimated at $3.5 billion based on the current share prices of EssilorLuxottica, which trades on the Paris exchange. The companies partnered to sell Ray-Ban and Oakley Meta glasses in new markets this spring. The shades can be used to access Meta AI, get live translations, take photos and videos, listen to music and podcasts, and make calls and texts, the companies said. "We're bringing the power of intelligent eyewear to more people, in more ways, than ever before," said Rocco Basilico, Chief Wearables Officer of EssilorLuxottica. Meta and EssilorLuxottica began collaborating on smart glasses in 2019 and said last year that they had agreed to continue this work "into the next decade." EssilorLuxottica -- as well as Meta, the parent company of Facebook, Instagram, and WhatsApp -- did not immediately respond to Investopedia's request for comment.

Meta Invests Billions in World's Largest Eyewear Company After Ray-Ban Smart Glasses Success

Other tech companies, like Google and Apple, are also eyeing the smart glasses space. Meta is taking a minority ownership share of the world's largest eyewear manufacturing company as it continues its investment in AI-powered smart glasses. Bloomberg reported on Tuesday that Meta is acquiring a little under 3% of EssilorLuxottica, a minority stake worth around $3.5 billion. EssilorLuxottica had a market cap of over $137 billion at the time of writing and is the "global industry leader" in contact lenses and eyewear, with approximately 20% market share, according to S&P Global Ratings. The company boasts a substantial portfolio of brands, including Oakley, Ray-Ban, and Persol, as well as numerous licensing agreements with luxury eyewear brands such as Burberry, Chanel, and Ralph Lauren. Related: Mark Zuckerberg Revealed His Vision for Smart Glasses at Meta Connect -- and It Involves Holograms: 'Beginning of a Big Thing' Meta and EssilorLuxottica released a waterproof, sport-focused pair of Oakley Meta glasses in June that feature a built-in camera and open-ear speakers. The glasses also integrate Meta AI features, so users can ask the glasses questions and use voice commands to take videos and pictures. The two companies have worked together since 2019 and have developed two generations of Ray-Ban Meta smart glasses. The second generation has sold over two million pairs since its launch in late 2023. At $399, the Oakley Meta glasses are priced higher than the $299 Ray-Ban Meta glasses, but have several features to justify the price tag, including a better battery life, weather-resistance, and a higher resolution camera. Meta is also reportedly working with EssilorLuxottica on AI smart glasses featuring the Prada brand, per a report last month from CNBC. Meta has yet to announce the Prada collaboration or reveal when the Prada Meta glasses will hit the market. Related: Google Is Making AI 'Intelligent Eyewear' With Warby Parker After Eyeing Meta's Ray-Ban Success Meta's goal is to ultimately bring to market a pair of smart glasses that overlay the physical world with holograms, or 3D digital avatars of real people. At the Meta Connect annual event in September, Meta CEO Mark Zuckerberg revealed Orion, the company's first fully functioning prototype of holographic glasses, calling it "the most advanced pair ever made." Zuckerberg did not announce when Orion will hit the market, stating that developers are working on fine-tuning the glasses. Bloomberg also reported that Meta is considering investing further in EssilorLuxottica to eventually increase its stake to around 5%. Meanwhile, other tech companies are eyeing the smart glasses space following Meta's success with the Ray-Ban. Google announced in May that it is committing $150 million to develop AI glasses in partnership with Warby Parker, with plans to launch the first pair of glasses after 2025. In a live demonstration, the glasses could translate from one language to another in real-time and answer questions about objects in the physical world. Apple is also reportedly working on its first pair of smart glasses to be released by the end of 2026, and has conducted focus groups to figure out what employees liked about smart glasses from rivals like Meta. Researchers predict that the smart glasses market will grow considerably in several years. GrandView Research estimates that the smart glasses market will expand from $1.93 billion in 2024 to $8.26 billion in 2030.

Meta Acquires Stake in Ray-Ban Maker EssilorLuxottica in AI Glasses Push

Meta currently sells a pair of Ray-Ban glasses, first debuted in 2021 Meta Plaforms bought a minority stake in the world's largest eyewear manufacturer, EssilorLuxottica SA, deepening the US tech giant's commitment to the fast-growing smart glasses industry, according to people familiar with the matter. Facebook parent Meta acquired just under three percent of the Ray-Ban maker, a stake worth around EUR 3 billion ($3.5 billion or roughly Rs. 29,998 crore) at market prices, said the people, who asked not to be identified because deliberations are private. Meta, based in Menlo Park, California, is considering further investment that could build the stake to around five percent over time, the people added, though those plans could change. Shares of EssilorLuxottica surged the most in three months in Paris. The growing ties with Meta should be seen as a vote of confidence in the eyewear maker and the opportunity in eyeglasses, according to analysts at Bernstein. "This represents another step in Meta's commitment to the smart-glasses category," the analysts said in a research note. Representatives for Meta and EssilorLuxottica declined to comment. The two companies have worked together for several years to develop AI-powered smart glasses. Meta currently sells a pair of Ray-Ban glasses, first debuted in 2021, with built-in cameras and an AI assistant that provide image-captioning or real-time stock prices. Last month, Meta launched separate Oakley-branded glasses with EssilorLuxottica. The eyewear maker's chief executive officer Francesco Milleri said last year that Meta was interested in taking a stake EssilorLuxottica, but that plan hadn't materialized until now. The advance of as much as 5.5 percent on Wednesday gave EssilorLuxottica a market value of EUR 116.5 billion (roughly Rs. 11,68,623 crore). Warby Parker, a competing glasses-maker, rose 4.5 percent in the US on Tuesday after Bloomberg's report. The deal aligns with Meta CEO Mark Zuckerberg's commitment to AI, which has become a top priority and major expense for the company. Smart glasses are a key part of that plan. While Meta has historically had to deliver its apps and services via smartphones created by competitors, glasses offer Meta a chance to build its own hardware and control its own distribution, Zuckerberg has said. The arrangement gives Meta the advantage of having more detailed manufacturing knowledge and global distribution networks, fundamental to turning its smart glasses into mass-market products. For EssilorLuxottica, the deal provides a deeper presence in the tech world, which would be helpful if Meta's futuristic investments pay off. Meta is also betting on the idea that people will one day work and play while wearing headsets or glasses. So-called non-AR smart glasses display information but don't provide a full alternative-reality experience that would alter users' perception of the environment. Apple Inc. has also recently pivoted to non-AR smart glasses, the Bernstein analysts said, as full AR is "some years away from being practical." The market for smart glasses is expected to grow to $8.26 billion by 2030 from $1.93 billion in 2024, according to GrandView Research. Other tech players are also dabbling in eyewear, suggesting that smart glasses may become mainstream soon, according to analysts at Jefferies. In a research note, they pointed to Google's recent decision to team up with France's Kering Eyewear, and China's Xiaomi announcing its entry into the market. "We would not be surprised to see new entrants soon," they wrote in a note.

Meta takes around 3% stake in Ray-Ban-parent EssilorLuxottica, source says - The Economic Times

Sprucing up its wearable technology with artificial-intelligence capabilities could help Meta attract new users as it invests billions of dollars in bolstering its AI infrastructure.Meta Platforms has acquired a nearly 3% stake in eyewear maker EssilorLuxottica, a source told Reuters on Tuesday, amid growing consumer interest in AI-powered wearable devices. Sprucing up its wearable technology with artificial-intelligence capabilities could help Meta attract new users as it invests billions of dollars in bolstering its AI infrastructure. EssilorLuxottica declined to comment, while Meta did not immediately respond when contacted by Reuters. Meta bought a stake worth around 3 billion euros ($3.52 billion) in EssilorLuxottica at the current market price and is considering further investments that could build its share to around 5% over time, according to Bloomberg News, which reported the development earlier in the day. The social media giant teamed up with Oakley to release AI-powered smart glasses last month, expanding its push into wearable tech after the success of Ray-Ban Meta glasses, millions of which have been sold since their launch in 2023. The "Oakley Meta HSTN" will feature a hands-free high-resolution camera, open-ear speakers, water resistance and Meta AI capabilities. EssilorLuxottica planned to boost its production capacity for smart glasses and hopes to expand its collaboration with Meta to other brands, Chief Executive Francesco Milleri had said in February.

Mark Zuckerberg-Led Meta Acquires Nearly 3% Of Ray-Ban, Oakley Parent EssilorLuxottica In $3.5 Billion Deal: Report - Apple (NASDAQ:AAPL), Essilorluxottica (OTC:ESLOF)

Mark Zuckerberg-led Meta Platforms Inc. META has reportedly acquired a minority stake in EssilorLuxottica ESLOF. What Happened: Meta has acquired nearly 3% of EssilorLuxottica, the French-Italian eyewear giant behind brands such as Ray-Ban and Oakley, reported Bloomberg on Tuesday, citing people familiar with the matter. The stake is worth approximately €3 billion ($3.52 billion) at current market prices and comes amid Meta's growing ambitions in the wearable tech space. See Also: Meta's AI Empire Grows -- Fueled By OpenAI, DeepMind, Apple Defectors As per the report, Meta could increase its stake to as much as 5% over time. Meta did not immediately respond to Benzinga's request for comments. Why It's Important: Last month, it was reported that Meta and EssilorLuxottica plan to release new AI smart glasses under the Oakley and Prada brands. This comes after the popularity of the Ray-Ban Meta smart glasses, which launched in 2023 and have reportedly sold millions of units. In October 2024, it was reported that Ray-Ban and Meta's smart glasses have become the best-selling product in 60% of Ray-Ban stores across Europe, the Middle East and Africa. Subscribe to the Benzinga Tech Trends newsletter to get all the latest tech developments delivered to your inbox. Meanwhile, Meta rival Apple Inc. AAPL reportedly has at least seven headsets and smart glasses in development. This includes Vision Pro M5 models, Vision Air, XR glasses and a display accessory, with some expected to launch starting in 2027. Price Action: Meta shares rose 0.044% in after-hours trading, following a 0.32% gain during regular market hours, according to Benzinga Pro data. Benzinga's Edge Stock Rankings indicate that META shows a strong upward trend in the short, medium and long term. While its growth score remains high, its value rating is relatively lower. More detailed performance data is available here. Photo Courtesy: Skorzewiak on Shutterstock.com Check out more of Benzinga's Consumer Tech coverage by following this link. Read Next: Amazon Loses Top AI Leader In High-Stakes Talent Shuffle AAPLApple Inc$210.160.10%Stock Score Locked: Want to See it? Benzinga Rankings give you vital metrics on any stock - anytime. Reveal Full ScoreEdge RankingsMomentum25.95Growth32.10Quality75.09Value9.32Price TrendShortMediumLongOverviewESLOFEssilorluxottica$217.84-22.2%METAMeta Platforms Inc$720.990.37%Market News and Data brought to you by Benzinga APIs

Meta Reportedly Buys 3% Stake in Smart Glasses Partner EssilorLuxottica | PYMNTS.com

Neither Meta nor EssilorLuxottica immediately replied to PYMNTS' request for comment. The two companies have been partners in the development of artificial intelligence (AI)-powered smart glasses for several years, according to the report. For EssilorLuxottica, the reported deal offers a greater presence in the tech world, according to the report. EssilorLuxottica Chairman and CEO Francesco Milleri said at the time in a press release: "Our work with Meta has already proven to be a significant milestone in our quest to make glasses the gateway to the connected world." Zuckerberg said in the same release: "I'm proud of the work we've done with EssilorLuxottica so far, and I'm excited about our long-term roadmap ahead. We have the opportunity to turn glasses into the next major technology platform and make it fashionable in the process." Smart glasses are enjoying a boom as the latest versions are powered by AI and encased in traditional frames of various styles, so users don't look out of place in public, PYMNTS reported in February. Several tech giants and about a dozen smaller companies are betting on smart glasses to be the next popular connected wearable.

Meta takes around 3% stake in Ray-Ban-parent EssilorLuxottica, source says

(Reuters) -Meta Platforms has acquired a nearly 3% stake in eyewear maker EssilorLuxottica, a source told Reuters on Tuesday, amid growing consumer interest in AI-powered wearable devices. Sprucing up its wearable technology with artificial-intelligence capabilities could help Meta attract new users as it invests billions of dollars in bolstering its AI infrastructure. EssilorLuxottica declined to comment, while Meta did not immediately respond when contacted by Reuters. Meta bought a stake worth around 3 billion euros ($3.52 billion) in EssilorLuxottica at the current market price and is considering further investments that could build its share to around 5% over time, according to Bloomberg News, which reported the development earlier in the day. The social media giant teamed up with Oakley to release AI-powered smart glasses last month, expanding its push into wearable tech after the success of Ray-Ban Meta glasses, millions of which have been sold since their launch in 2023. The "Oakley Meta HSTN" will feature a hands-free high-resolution camera, open-ear speakers, water resistance and Meta AI capabilities. EssilorLuxottica planned to boost its production capacity for smart glasses and hopes to expand its collaboration with Meta to other brands, Chief Executive Francesco Milleri had said in February. (Reporting by Juby Babu in Mexico City; Editing by Pooja Desai)