Meta Platforms, the parent company of Facebook, is in advanced talks to acquire a roughly 5% stake in EssilorLuxottica, the world’s largest eyewear company. This move signals a significant investment in a key partner for Meta’s smart glasses ambitions.
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The two companies have collaborated on the development of Ray-Ban Stories, a smart glasses product that combines fashion with technology. This potential investment would deepen their relationship and give Meta greater influence over the future of wearable tech.
However, Meta isn’t the only tech giant eyeing EssilorLuxottica. Google has reportedly approached the company to integrate its Gemini AI assistant into future smart glasses, potentially challenging Meta’s position.
This strategic manoeuvring comes amid a challenging financial climate for EssilorLuxottica. The company has faced profit margin pressures due to global inflation and increased costs. While its stock price has risen, it has underperformed compared to its European peers.
Despite these challenges, EssilorLuxottica remains a dominant force in the eyewear industry, owning renowned brands like Ray-Ban and Oakley. The company’s vast distribution network and fashion-forward designs make it an attractive partner for tech giants looking to expand their wearable offerings.
The investment by Meta could inject fresh capital into EssilorLuxottica and accelerate the development of innovative eyewear products. As the competition for wearable tech intensifies, this strategic partnership could prove to be a game-changer for both companies.
