Meta Takes $3.5 Billion Stake in Smart Glasses Manufacturer EssilorLuxottica

Meta has purchased a 3% stake in eyewear manufacturer EssilorLuxottica for approximately $3.5 billion, according to Business of Fashion, quoting people familiar with the matter. The Facebook parent company has been partnering with the manufacturer of its AI-powered Ray-Ban smart glasses since 2019, and both companies extended the relationship in September 2024. Even though it's