Meta Buys Stake in Ray-Ban Parent EssilorLuxottica to Boost AI Wearables Push The investment represents nearly 3% of the eyewear company's shares and signals Meta's growing interest in AI-powered wearable technology.
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Meta Platforms has acquired a minority stake in EssilorLuxottica, the parent company of Ray-Ban and Oakley, for around USD 3.5 billion. The investment represents nearly 3% of the eyewear company's shares and signals Meta's growing interest in AI-powered wearable technology.
Meta and EssilorLuxottica have been partners since 2019, working together on smart glasses. Notable products include the Ray-Ban Meta glasses launched in 2023 and the Oakley Meta HSTN released earlier this year. These smart glasses come with features like a 12MP camera, video recording, audio playback, and Meta's AI assistant. The Oakley model also adds durability and water resistance.
The new investment, worth approximately €3 billion (USD 3.52 billion), was made through stock market purchases in Paris. Following the news, EssilorLuxottica's US-listed shares rose by more than 6%.
This move suggests Meta may increase its stake to 5% in the future, although it currently holds no control over the eyewear giant. The deal fits into Meta's broader strategy of developing AI-enabled consumer devices through its Reality Labs division, which also produces virtual and augmented reality products.
EssilorLuxottica CEO Francesco Milleri has expressed interest in scaling up production of smart eyewear and expanding innovation across the company's brand lineup.
With competitors like Apple and Google also exploring wearable tech, Meta's latest investment gives it a stronger foothold in the growing AI wearables market.
So far, the deal has not faced any regulatory hurdles. While Meta's stake remains a minority holding, the partnership strengthens its hardware capabilities and signals a long-term commitment to AI-infused everyday tech.
