Meta acquires $3.5 billion stake in Ray-Ban parent co to build AI-powered smart glasses
Meta has acquired a nearly 3 per cent stake in EssilorLuxottica, valued at around $3.5 billion, through open market purchases in Paris.
Meta Platforms has acquired a minority stake in EssilorLuxottica, the parent company of Ray-Ban and Oakley, valued at approximately $3.5 billion. The deal represents nearly 3 per cent of the eyewear giant’s shares and reflects Meta’s continued interest in the AI-enabled wearables segment.
Partnership with Ray-Ban maker expands
Meta and EssilorLuxottica have worked together since 2019 to produce smart glasses. Previous collaborations include the Ray-Ban Meta launched in 2023 and the Oakley Meta HSTN model introduced earlier this year. These devices feature built-in cameras, audio playback, and access to Meta’s AI assistant. The new investment indicates Meta may expand its ownership to around 5 per cent in future.
Investment executed via market transaction
The stake, worth roughly €3 billion ($3.52 billion), was acquired through market purchases on the Paris stock exchange. Following reports of the deal, EssilorLuxottica’s American depositary receipts (ADRs) rose over 6 per cent.
Focus on wearable device development
Ray-Ban Meta glasses include a 12 MP camera and functions such as photo and video capture, AI translation, and audio support. The Oakley Meta HSTN offers similar features, with additional durability and water resistance. These products are positioned as everyday accessories that combine optical design with basic AI functionality.
While Meta has not disclosed specific plans for new hardware, its broader strategy in wearables aligns with efforts in augmented reality and AI assistant integration. The company has invested significantly in its Reality Labs division, which develops headsets and spatial computing interfaces.
Broader context of AI-enabled consumer devices
EssilorLuxottica CEO Francesco Milleri previously noted the company’s intent to increase its capacity for producing smart eyewear and extend collaboration across its brand portfolio.
The partnership also provides Meta with a hardware foothold in the wearables segment, where companies such as Apple and Google are exploring similar technologies.
At present, no regulatory objections have been raised concerning the transaction. The acquisition remains a minority holding and does not grant Meta control over EssilorLuxottica’s operations.