Meta, the company behind Facebook, Instagram, and WhatsApp, is currently in talks to potentially invest in EssilorLuxottica, a European eyewear conglomerate known for brands like Ray-Ban and Oakley. According to insiders, Meta is considering taking a minority stake of up to 5 percent in EssilorLuxottica, which is valued at approximately €88 billion or $96 billion.
The discussions between Meta and EssilorLuxottica are centered around further collaboration on augmented reality glasses. This potential investment would strengthen the ties between the two companies, especially after their successful partnership in producing the Ray-Ban smart sunglasses, known as Ray-Ban Stories.
Mark Zuckerberg, the CEO of Meta, has been vocal about the company’s focus on building the metaverse, an immersive digital universe. The investment in EssilorLuxottica would demonstrate Meta’s commitment to advancing metaverse-related products and technologies. Meta has already allocated significant funds for developing virtual reality headsets, smart wearable devices, and other hardware essential for the metaverse.
Despite Meta’s ongoing efforts to innovate in the hardware sector, particularly with smart glasses and artificial intelligence integration, its hardware division, Reality Labs, has yet to turn a profit. In fact, Reality Labs reported a loss of $3.8 billion in the first quarter of this year. However, this financial setback has not deterred Mr. Zuckerberg from continuing to invest in cutting-edge technology and A.I. development.
The potential investment in EssilorLuxottica could further propel Meta’s metaverse strategy and solidify its position as a key player in the tech industry. As the talks progress, both companies are keeping details confidential, and it remains to be seen how this partnership will unfold in the evolving landscape of augmented reality and digital innovation. Stay tuned for more updates on Meta’s investment plans and its strategic collaborations with EssilorLuxottica in the exciting realm of smart eyewear and the metaverse.