Jul 18, 2024 8:13 PM
Updated Jun 2, 2025 4:48 PM
Meta Platforms is reportedly negotiating to take a stake in EssilorLuxottica, the maker of Ray-Ban, as part of a funding deal tied to its Ray-Ban eyewear and Quest VR initiatives.
Facebook and Instagram owner Meta Platforms (NASDAQ:META) is eyeing an investment in Ray-Ban parent company EssilorLuxottica, the company behind Ray-Ban glasses.
It follows the successful collaboration between Meta and Ray-Ban which created ‘smart’ sunglasses that integrate cameras, microphones and mini-speakers.
The smart glasses reportedly surpassed expectations for Meta’s hardware business, which also includes the Quest VR headsets.
According to media reports, Meta is negotiating to purchase around a 5% stake in the eyewear group which could be worth some $5 billion. In Europe, EssilorLuxottica shares surged close to 7% on the news on Thursday.
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