Meta buys into EssilorLuxottica

Meta Platforms has bought a minority stake in the world’s largest eyewear manufacturer, EssilorLuxottica, deepening the tech giant’s commitment to the smart glasses industry.

The Facebook parent company acquired just under 3% of EssilorLuxottica, a stake worth around US$3.5 billion, reported Bloomberg.

Earlier this year, the partners extended their range of AI-performance powered eyewear with the release of Oakley Meta. Building on the success of Ray-Ban Meta, Oakley Meta is packed with key tech improvements including higher and clearer resolution, seamlessly integrated open-ear speakers, longer battery life and more, said EssilorLuxottica, adding consumers will also be able to fit their Oakley Meta glasses with Oakley’s Prizm lens technology.

This launch set a new standard for the industry, said Rocco Basilico, chief wearables officer at EssilorLuxottica. “It’s part of a broader multi-brand, multi-technology strategy that reflects the scale of our ambition: to build a connected eyewear category that spans lifestyles, communities and use cases. We’re combining design, utility and emotion to deepen human connection and unlock new potential through the lens of every brand we touch. And there is far more to come.”

To celebrate the launch, Oakley and Meta will debut a new global campaign starring three-time Super Bowl Most Valuable Player and longtime Oakley Athlete Patrick Mahomes and World Cup winner and Oakley Athlete Kylian Mbappé, said the companies in a joint statement.