Meta Invests $3.5 Billion In World’s Largest Eyeglass Maker

Meta Platforms Inc. has acquired a minority stake in EssilorLuxottica SA, the world’s largest eyewear manufacturer, deepening its investment in the fast-growing smart glasses market.

Meta is considering raising its stake in EssilorLuxottica to 5% over time. I Photo: EssilorLuxottica

The news was reported by Kurt Wagner, Tommaso Ebhardt, and Daniele Lepido for Bloomberg News.

Meta bought just under 3% of the Ray-Ban maker, a stake worth approximately €3 billion ($3.5 billion) at market value. The company is considering raising its stake to 5% over time, sources said, though no final decision has been made.

Shares of EssilorLuxottica surged by as much as 7.1% in Paris trading, the biggest gain in three months.

“This represents another step in Meta’s commitment to the smart glasses category,” analysts at Bernstein wrote. Meta and EssilorLuxottica have collaborated for several years on AI-powered smart glasses.

Meta’s Ray-Ban-branded glasses, first launched in 2021, include built-in cameras and an AI assistant offering services like image captioning and real-time stock updates.

Last month, Meta also debuted Oakley-branded smart glasses in partnership with EssilorLuxottica.