Meta in Talks to Purchase Five Percent Stake in Ray-Ban Owner EssilorLuxottica: Potential $4.73 Billion Deal
Meta, the parent company of Facebook, is rumored to be in talks to acquire a five percent stake in EssilorLuxottica, the owner of popular eyewear brand Ray-Ban. The potential deal, estimated to be worth $4.73 billion, could give Meta a stronger foothold in the smart glasses market.
The collaboration between Meta and EssilorLuxottica has already proven successful with the launch of Ray-Ban Meta smart glasses, which have surpassed sales of Ray-Ban’s previous smart glasses offering. Mark Zuckerberg, CEO of Meta, expressed excitement over the high demand for the product and plans to ramp up production to meet consumer needs.
With competition heating up in the smart glasses space, the potential investment by Meta could give them greater influence over the direction EssilorLuxottica takes in this market. Companies like Apple, Google, and Microsoft are also vying for dominance in the smart glasses industry, with Apple recently investing $410 million in optical technology manufacturer II-VI.
EssilorLuxottica, known for brands like Ray-Ban, Oakley, and Persol, is a major player in the eyewear industry and also owns Nuance Audio and EssilorLuxottica Smart Eyewear Lab. The company’s share price has seen a significant increase following reports of Meta’s interest in becoming a stakeholder.
The Ray-Ban Meta smart glasses have seen improvements in AI technology, audio quality, camera capabilities, and overall design. With features like a 12 MP camera, enhanced audio, and improved charging capabilities, the glasses offer a seamless user experience for capturing photos and videos, as well as live streaming to social media platforms.
As Meta looks to expand its presence in the smart glasses market, the potential investment in EssilorLuxottica could pave the way for innovative developments in wearable technology and solidify Meta’s position as a key player in the industry.
