Meta Acquires $2.6bn Stake in Ray-Ban Maker EssilorLuxottica Amid VR Glasses Push

Meta has acquired a £2.6 billion stake in Ray-Ban maker EssilorLuxottica to support its virtual reality sunglasses push. The tech giant, owner of Facebook, has a 3% stake and is considering further investments to reach 5%. The companies have collaborated since 2019 and launched Meta smart glasses, with around 2 million pairs sold since late 2023.

Meta Platforms Inc. (META) has acquired a £2.6 billion stake in EssilorLuxottica SA, the world's largest eyewear manufacturer, to bolster its virtual reality (VR) sunglasses push. The acquisition, valued at around €3 billion ($3.5 billion) at market prices, represents a 3% stake in the company [1]. Meta, based in Menlo Park, California, is considering further investments to increase its stake to around 5% over time [1].

The deal underscores Meta's growing commitment to the smart glasses industry, a segment that is expected to grow significantly in the coming years. According to GrandView Research, the market for smart glasses is projected to reach $8.26 billion by 2030 from $1.93 billion in 2024 [1].

The acquisition comes amidst a flurry of activity by Meta in the AI and wearable technology sectors. Last month, Meta launched its first set of Oakley-branded smart glasses, named the Oakley Meta HSTN, which feature an upgraded camera and better battery performance [2]. The company has also been exploring partnerships with other eyewear manufacturers, such as Google, which recently invested in Gentle Monster to develop smart glasses [3].

For EssilorLuxottica, the deal provides a deeper presence in the tech world and access to Meta's advanced manufacturing and distribution networks. The company is hoping to expand its partnership with Meta to other brands and plans to increase production capacity for smart glasses [2].

The acquisition aligns with Meta CEO Mark Zuckerberg's commitment to AI, which has become a top priority and major expense for the company. Smart glasses offer Meta a chance to build its own hardware and control its own distribution, bypassing the need to rely on competitors' smartphones [1].

EssilorLuxottica's shares surged the most in three months following the announcement, while Meta's shares rose less than 1% in premarket US trading [1]. The deal also comes as other tech players, such as Google and Xiaomi, are increasingly entering the smart glasses market [1].

References:
[1] https://finance.yahoo.com/news/meta-invests-3-5-billion-191357907.html
[2] https://americanbazaaronline.com/2025/07/09/meta-invests-3-5-billion-in-ray-ban-maker-essilorluxottica-464814/
[3] https://www.uploadvr.com/meta-invests-3-billion-in-essilorluxottica-taking-stake/