Meta Invests $3.5 Billion in EssilorLuxottica, Boosting AI-Powered Smart Glasses Push
11 Sources
[1]
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%
[2]
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
[3]
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
[4]
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,
[5]
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
[6]
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
[7]
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
[8]
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,
[9]
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
[10]
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
[11]
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
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Meta acquires a 3% stake in EssilorLuxottica, the world's largest eyewear maker, signaling a significant investment in AI-powered wearable technology and smart glasses.
Meta's Strategic Investment in EssilorLuxottica
Meta Platforms Inc. has made a significant move in the wearable technology sector by acquiring a minority stake in EssilorLuxottica SA, the world's largest eyewear manufacturer. The investment, valued at approximately €3 billion ($3.5 billion), represents just under 3% of the Ray-Ban maker's shares
1
. This strategic partnership deepens the collaboration between the two companies, which have been working together on AI-driven smart glasses since 20194
.
Source: CNBC
Expanding the Smart Glasses Portfolio
The investment comes amid growing consumer interest in AI-powered wearable devices. Meta and EssilorLuxottica have already seen success with their Ray-Ban Meta smart glasses, selling 2 million pairs since late 2023
3
. The partnership has expanded to include other brands:-
Oakley: Meta recently teamed up with Oakley to release AI-powered smart glasses, featuring a hands-free high-resolution camera, open-ear speakers, and water resistance
2
. -
Prada: Plans are in place to release AI-powered smart glasses under the Prada brand
3
.
Source: Entrepreneur
AI Integration and Features
The latest generation of Meta's smart glasses comes equipped with advanced AI capabilities:
- Meta AI voice assistant integration
- Landmark identification
- Recipe suggestions based on ingredients
- Voice message recording and sending via WhatsApp and Messenger
- Live translations
- Photo and video capture
- Music and podcast streaming
3
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Future Outlook and Market Impact
Meta's investment signals a strong commitment to the future of wearable technology and augmented reality. The company is considering further investments that could increase its stake to around 5% over time
1
. This move aligns with CEO Mark Zuckerberg's vision of people engaging in work and leisure activities using headsets or glasses4
.
Source: Reuters
The market has responded positively to this development, with EssilorLuxottica's shares rising by 4.85% following the news
3
. EssilorLuxottica CEO Francesco Milleri has expressed ambitious plans to increase annual production of smart glasses to 10 million units by the end of 20263
.As Meta continues to invest billions in bolstering its AI infrastructure, this partnership with EssilorLuxottica represents a significant step towards integrating AI capabilities into everyday wearable devices, potentially attracting new users and reshaping how people interact with technology in their daily lives.
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