Meta Platforms has invested around $3.5 billion to acquire a nearly 3% stake in EssilorLuxottica, the parent company of Ray-Ban and Oakley. The move strengthens a partnership focused on developing artificial intelligence (AI)-powered smart glasses. Meta may increase its stake to 5% in the future.
The two companies have worked together since 2019 and have already launched two generations of Ray-Ban Meta smart glasses. More than 2 million units have been sold globally since their debut in October 2023. The glasses offer features like open-ear speakers, hands-free photo and video recording, and an AI assistant.
Meta CEO Mark Zuckerberg called smart glasses “the next major technology platform,” highlighting the importance of the partnership to the company’s future. The deal combines Meta’s AI and spatial computing expertise with EssilorLuxottica’s deep knowledge of optics and global distribution.
Market Response and Expansion Plans
EssilorLuxottica’s stock rose 3.3% following the announcement, pushing its market value past €100 billion for the first time—a milestone long envisioned by its late founder, Leonardo Del Vecchio.
The smart glasses have already generated over $600 million in revenue, significantly outperforming earlier models like Ray-Ban Stories. Meta and EssilorLuxottica now plan to boost production to over 10 million units per year by 2026. Meta has set a long-term goal of selling between 5 and 10 million units of future versions.
Strong Financial Returns
EssilorLuxottica reported €6.85 billion in revenue for the first quarter of 2025, with smart glasses playing a growing role in its business. For Meta, the investment supports its shift toward building new computing platforms beyond smartphones and virtual reality headsets.
Analysts see the move as a smart strategy for both companies, giving them an edge in the growing wearable tech market. The partnership also positions Meta ahead of competitors like Apple, which is expected to launch its own smart glasses by 2027.
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