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EssilorLuxottica Shares Surge After Meta Acquires Nearly 3% Stake

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Shares of EssilorLuxottica (ESLX.PA), the Franco-Italian eyewear giant known for Ray-Ban, jumped 5.4% to 252 euros on Wednesday, becoming the top performer on the STOXX 600 index. The rise followed reports that Meta Platforms (META.O) acquired a nearly 3% stake in the company, valued at about 3 billion euros ($3.5 billion).

Meta, the parent company of Facebook and Instagram, already partners with EssilorLuxottica on smart glasses production and is reportedly considering increasing its stake to around 5%. Neither company immediately commented on the transaction.

Analysts at Bernstein interpret Meta’s investment as a strong endorsement of EssilorLuxottica’s potential in the smart glasses market. The move builds on discussions between the two firms last year and signals deeper collaboration in wearable technology.

Earlier this year, Meta announced a partnership with Oakley, an EssilorLuxottica brand, to develop AI-powered smart glasses named “Oakley Meta HSTN.” These glasses feature a hands-free high-resolution camera, open-ear speakers, water resistance, and integrated Meta AI capabilities, marking an expansion beyond the successful Ray-Ban Meta glasses launched in 2023.

EssilorLuxottica CEO Francesco Milleri has expressed ambitions to increase smart glasses production capacity and extend partnerships with Meta across more brands, highlighting the growing intersection of eyewear and artificial intelligence.

Meta Expands Hardware Lineup with Oakley-Branded Glasses, Explores Watches and Earbuds

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Meta Expands into Wearables: Oakley Smart Glasses, Smartwatches, and Earbuds on the Horizon

Meta Platforms Inc. is reportedly making significant strides in expanding its hardware offerings, with plans to introduce a range of new wearable devices. The company is focusing on integrating artificial intelligence features into these devices, aiming to offer more immersive and innovative user experiences. Among these new products are Oakley-branded smart glasses, which are said to be targeted towards athletes. This collaboration is expected to bring sports-focused smart glasses that cater to the unique needs of active users, with enhanced functionality for fitness tracking and performance analytics.

New Glasses and Upcoming High-End Wearables

In addition to the Oakley partnership, Meta’s Reality Labs division, responsible for its device development, is also working on high-end smart glasses that will feature a built-in display. These glasses, expected to launch in 2025, could bring augmented reality capabilities to a broader audience, expanding Meta’s reach beyond just virtual reality (VR). These developments signal Meta’s ambition to compete in the growing market for wearable technology, where Apple currently dominates with its popular Apple Watch and AirPods.

Competing with Apple in the Wearable Market

Meta’s venture into wearable tech is not limited to just glasses. The company is also working on creating products that could rival Apple’s smartwatch and AirPods. This could include smartwatches that integrate advanced AI for health monitoring and smart earbuds with camera capabilities, potentially offering features that go beyond what current devices offer. While Meta has yet to reveal full details of these products, they are expected to launch in the coming years, further strengthening the company’s position in the hardware space.

The Long-Term Goal: Augmented Reality

Perhaps the most ambitious project in Meta’s wearable pipeline is its long-awaited augmented reality (AR) glasses, which are being developed as the company’s first true AR product. This has long been considered the “holy grail” of wearable tech, as it could change how people interact with the world by overlaying digital content onto the physical environment. Meta is reportedly targeting a release of these AR glasses by 2027, a bold timeline that highlights the company’s commitment to shaping the future of augmented reality. However, details on this product remain scarce, with much of the development shrouded in secrecy for now.

Meta Introduces ‘Look and Ask With Meta AI’ Feature for Ray-Ban Smart Glasses, Unveils Early Access Program

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US Customers: Early Access Offer for Ray-Ban Meta Smart Glasses Now Open Devamını Oku