Meta picks up nearly 3% stake in EssilorLuxottica to deepen AI smart glasses push: Report

Meta Platforms has acquired close to a 3% stake in eyewear giant EssilorLuxottica, a move that signals the company’s growing focus on the AI-powered wearables space. The investment, estimated to be worth around €3 billion ($3.52 billion), comes amid Meta’s ongoing efforts to integrate artificial intelligence into everyday consumer products.

A source familiar with the matter confirmed the stake acquisition to Reuters on Tuesday. While Meta has not commented publicly on the development, it is reportedly eyeing a larger stake in the future, potentially increasing its holding to around 5%, according to Bloomberg News.

The news follows Meta’s recent release of the Oakley Meta HSTN smart glasses, which build on the success of the Ray-Ban Meta series. The new Oakley model features a high-resolution hands-free camera, open-ear speakers, water resistance and integrated Meta AI tools, catering to an audience increasingly drawn to multifunctional wearable tech.

Meta’s partnership with EssilorLuxottica began in 2023 with the Ray-Ban Meta smart glasses, which have sold in the millions since their launch. The collaboration combines Luxottica’s design heritage with Meta’s growing AI ecosystem, which the company continues to expand with billions of dollars in infrastructure investments.

In February, EssilorLuxottica CEO Francesco Milleri said the company planned to increase production capacity for smart glasses and looked forward to broadening its collaboration with Meta across other brands in its portfolio.

As competition heats up in the AI wearable space, Meta’s strategic investment could not only secure hardware innovation but also tighten its grip on consumer-facing smart devices in a fast-growing market.