Meta has acquired a 3 percent stake in Italian-French eyewear group EssilorLuxottica, marking a strategic move to deepen its involvement in smart eyewear development. The deal, reportedly worth around €3 billion and conducted at market prices, was revealed by Bloomberg citing unnamed sources. Neither company has officially confirmed the transaction.
The two companies have worked together since 2019 and jointly launched Ray-Ban Stories in 2021. While that first product had limited commercial impact, the 2023 launch of the Ray-Ban Meta – featuring enhanced video, audio and AI functions – sold two million units in its first year. EssilorLuxottica has since announced plans to ramp up annual production to 10 million pairs.
Meta is reportedly considering increasing its stake to 5 percent, aligning with previous reports by the Financial Times and Wall Street Journal. The investment is seen as a logical step for Meta, which lacks its own hardware and retail channels to rival Apple or Google. EssilorLuxottica operates roughly 14,000 stores globally, offering Meta a direct-to-consumer distribution platform as it pushes to establish smart glasses as a potential smartphone alternative.
Read the full story on our sister publication, Eyewear Intelligence.
