Meta is said to be holding negotiations with EssilorLuxottica, the manufacturer of Ray-Ban sunglasses, to secure a minority investment position within the company. The companies are doubling down on their successful partnership with the release of Meta’s new Ray-Ban smartglasses.
According to sources, Meta is reportedly considering acquiring a roughly 5% stake in the high-end eyewear company with Italian and French roots.
According to insiders familiar with the matter, the funding’s prospects are uncertain; however, if it proceeds, it could potentially be valued at approximately €4.33 billion, contingent on EssilorLuxottica’s current market value of €86.50 billion.
Meta has reorganized its Actuality Labs XR division to better tackle smartglasses and other wearable technologies.
As part of its strategic realignment, Actuality Labs has been reorganized into two distinct groups: a central “Metaverse” division focused on the Quest product line and a new “Wearables” group dedicated to developing innovative hardware, including its pioneering Ray-Ban Meta smartglasses.
The Meta Ray-Ban smartglasses currently available for purchase are a second-generation iteration of the Fb Ray-Ban Tales glasses introduced in 2021, boasting enhanced camera capabilities, audio features, and an expanded range of design options.
The Meta Ray-Ban smartglasses dispense with a show, instead relying on voice commands from the built-in assistant or intuitive interactions via the device’s physical controls, allowing users to effortlessly capture moments, shoot videos, and enjoy their favorite tunes.
While Facebook Marketplace may boast iconic styling and attract a significant number of shoppers, there is one thing that Meta might struggle to replicate on its own: the sheer scale and reach of Instagram’s visual storytelling capabilities. A minority stake in EssilorLuxottica would not solely grant the company access to a range of sub-brands, but also its extensive retail network encompassing Sunglass Hut, LensCrafters, Vision Care, Pearle Vision, and Target Optical.
Neither EssilorLuxottica nor Meta responded to requests for comment.
