Meta in talks to buy 5% stake in Ray-Ban maker EssilorLuxottica, WSJ reports
The Wall Street Journal reported on Thursday, citing people familiar with the situation, that MMeta Platforms (META.O), opens new tab, is in talks to purchase a share of roughly 5% in EssilorLuxottica (ESLX.PA), opens a new tab, its production partner for the Ray-Ban smart spectacles.
LD Web Desk 
Meta Platforms (META) is reportedly in talks to acquire a 5% stake in EssilorLuxottica, the largest eyewear company in the world. This potential stake, based on EssilorLuxottica's current market value of 86.50 billion euros, could be worth approximately 4.33 billion euros ($4.73 billion).
This strategic move would provide Meta further control over the development and roadmap of the Ray-Ban smart glasses, which are produced in partnership with EssilorLuxottica.
The Ray-Ban Meta smart glasses, launched in 2021, have been a significant part of Meta's consumer product portfolio. The latest generation of these smart glasses, which include features like a Meta AI assistant and the ability to live stream directly to Facebook and Instagram, have seen stronger sales compared to previous versions.
The collaboration between Meta and EssilorLuxottica is seen as a step towards enhancing Meta's capabilities in the augmented and mixed reality technologies market, a space where other tech giants like Apple are also heavily investing.
Analysts have been positive about the latest generation of the glasses, which include a Meta AI assistant and are capable of live streaming broadcasts of what a user is seeing directly to Facebook and Instagram.
"We believe Meta's Ray-Ban Smart Glasses may only be a generation or two away from finding product market fit," Bernstein analysts said earlier this month.
A third generation of the Ray-Ban Meta glasses is expected to be ready by the 2025 holiday shopping season, according to the WSJ report.
