A board director at EssilorLuxottica confirmed that Meta holds a stake in the European eyewear company. The investment is confirmed at a minimum of 3%, with a potential ceiling of 5%.
This investment confirms a previously reported stake, highlighting the strengthening partnership between the firms. EssilorLuxottica and Meta collaborate on the AI-powered Ray-Ban Meta smart glasses.
The director noted Meta is not currently seeking a board seat. However, the company remains free to increase its stake in EssilorLuxottica in the future.
The move solidifies Meta’s footing in the competitive wearables market, where it vies with rivals Google and Apple. Furthermore, the Ray-Ban Meta glasses contribute to EssilorLuxottica's sales growth this year.