Recently, Meta Platforms bought a 5% stake in EssilorLuxottica that would further strengthen its grip on Ray-Ban smart glasses, according to Reuters. The potential stake could be worth up to 4.33 billion euros at EssilorLuxottica’s current market value.
The investment by Meta is oriented towards augmented and mixed reality. A deal like this will further increase Meta’s sway over smart glasses development. Other tech giants, including Apple, have huge investments in this technology.
EssilorLuxottica shares rose 3% following the news, while Meta’s stock gained 1.2%. The eyewear giant was created from the merger of Essilor with Luxottica in 2018. The family of Luxottica founders holds a stake of around 33% in Delfin.
Smart glasses, introduced by Meta in 2021 under the brand name Ray-Ban, are one of the core products of the company. The new generation, introduced last October, outsold its predecessor in a few months. According to analysts, a good future is in store for the glasses.
Bernstein analysts believe that the Ray-Ban smart glasses are already close to market fit. Meta’s smart glasses have a Meta AI assistant and broadcast live to both Facebook and Instagram. The third generation is expected by the 2025 holiday season.
An investment from Meta in EssilorLuxottica may allow smart glasses technology to reach new heights. This deal, without any doubt, would further strengthen the competitive positioning of Meta within the augmented reality market. Strategic moves from Meta do make the future look bright for smart glasses.
