After announcing the extension of their partnership last year and, more recently, the launch of a new range of connected glasses, Mark Zuckerberg's Meta is investing $3.5 billion in the French-Italian firm EssilorLuxottica.
On Tuesday, an unnamed source reportedly revealed to Reuters that the American tech giant Meta had acquired a minority stake (3%) in the EssilorLuxottica group. According to the same sources, Meta is even considering increasing its stake to 5% in the future. This agreement reinforces the strategic commitment of Mark Zuckerberg, founder and CEO of the group, to the development of artificial intelligence. At the close of trading on Tuesday, EssilorLuxottica shares were trading at $239.40.
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The partnership between the eyewear empire and the Silicon Valley giant dates back to 2019 with the launch of Ray-Ban Stories: smart glasses capable of taking photos, filming videos and answering calls. In 2024, the success of Ray-Ban Meta connected glasses contributed significantly to EssilorLuxottica's 6% revenue growth to €26.51 billion. In a press release, the group even described this segment as “the new driver of its business,” with more than one million pairs of smart glasses sold that same year.
As the market leader, EssilorLuxottica has potential that clearly does not leave the tech giant indifferent, to the point that it holds a minority stake in the company. Its diversification strategy, covering technology, sports, luxury, and visual health, has enabled it to maintain solid growth: in the first quarter of 2025, the group's revenue was up 8.1% at current exchange rates, driven in particular by the EMEA region (up 10%) and the rapid growth of Ray-Ban Meta. According to the results published by the group on April 23, revenue amounted to €6.8 billion for the first half of the year alone. “Our brands are showing the power of relevance like never before, including Ray-Ban Meta’s extraordinary trajectory, Oakley celebrating its 50th year of being the world’s favorite sport performance brand and Oliver Peoples extending its partnership with legend Roger Federer” said Francesco Milleri, Chairman and CEO of the group, and Paul du Saillant, Deputy CEO, in a press release.
On June 20, Meta and EssilorLuxottica announced the launch of the Oakley Meta collection, a new category of Performance AI eyewear designed for athletes and fans. Building on the success of Ray-Ban Meta, which has sold millions of pairs since its launch, the first product in the collection, Oakley Meta HSTN, will feature Ultra HD 3K video recording, integrated speakers in the frame, improved battery life, and advanced lens technology. The model will retail for $499 for the limited edition and $399 for the rest of the collection, available this summer. To celebrate the launch, a marketing campaign featured three-time Super Bowl MVP and longtime Oakley athlete Patrick Mahomes and World Cup winner and Oakley athlete Kylian Mbappé.
When announcing its financial results for the 2024 fiscal year, Mark Zuckerberg said, “We continue to make good progress on AI, glasses, and the future of social media.” The American giant's annual revenue stood at $164.50 billion, up 22% from the previous year.
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