Meta Eyes Major Buy in EssilorLuxottica to Boost Smart Glasses Development

Meta, the owner of Facebook, is exploring a multibillion-euro investment in the eyewear giant EssilorLuxottica. According to sources familiar with the matter, the Silicon Valley company is considering acquiring a small stake in the €87 billion Franco-Italian group.

This potential investment comes as Meta seeks to deepen its collaboration with EssilorLuxottica, following the successful launch of their revamped “Ray-Ban Meta” smart glasses last year. The Financial Times reported that the two companies have been in talks to expand their partnership, aiming to leverage each other’s strengths in technology and eyewear design.

Mark Zuckerberg, Meta’s CEO, has been aggressively investing in wearable technology, including virtual reality headsets, in recent years. This latest move indicates Meta’s commitment to integrating advanced technology into everyday accessories, making smart glasses a key focus of its wearable tech strategy.

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EssilorLuxottica, a Paris-listed company, has also been keen on attracting younger consumers through innovative deals and products. The potential partnership with Meta could significantly boost its appeal in the tech-savvy market segment.

While there is no certainty that the investment will materialize, Meta has engaged Morgan Stanley to advise on the matter. The news of the potential stake purchase led to a nearly 5% surge in EssilorLuxottica’s share price on Thursday, reflecting investor optimism about the collaboration.

As the discussions continue, the industry is closely watching the potential implications of this partnership, which could reshape the landscape of smart eyewear and wearable technology.

Source: The Financial Times