Meta has purchased a 3% stake in eyewear manufacturer EssilorLuxottica for approximately $3.5 billion, according to Business of Fashion, quoting people familiar with the matter. The Facebook parent company has been partnering with the manufacturer of its AI-powered Ray-Ban smart glasses since 2019, and both companies extended the relationship in September 2024.
Even though it’s relatively small, this ownership stake gives Meta greater access to detailed manufacturing data and global distribution networks that will be vital to making smart glasses more than a niche product. For its part, EssilorLuxottica gets a larger foothold in the tech world and, if the smart glasses take off, a major manufacturing and retail opportunity.
Meta is considering additional investments that could built its stake in EssilorLuxottica to 5% over time, though those plans could change, according to Business of Fashion. Last month, the companies introduced smart glasses under the Oakley brand, and in November 2024 Meta opened a Los Angeles pop-up dedicated to its Ray-Ban smart glasses.
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