Official announcements from Meta Platforms or EssilorLuxottica, financial news reports

Meta's Ray-Ban Meta Smart Glasses Outsell Previous Version, Meta Explores €4.5 Billion Stake in EssilorLuxottica

Jul 18, 2024, 12:27 PM

Meta Platforms and EssilorLuxottica's new generation of Ray-Ban Meta smart glasses have outsold the previous version, according to EssilorLuxottica's CEO. The new smart glasses, which hit the market last October, have surpassed the sales of the older model in just a few months, a feat that took the previous version two years to achieve. Following this success, Meta is exploring a multibillion-euro investment in EssilorLuxottica, potentially acquiring a 5% stake in the eyewear group. This investment, valued at around €4.5 billion ($4.9 billion), aims to deepen the partnership between the two companies and further develop their smart glasses collaboration. The Financial Times reported on this development.