Shares of French eyewear giant EssilorLuxottica surged over 5% on July 9, 2025, following reports that Meta Platforms Inc. has acquired a minority stake worth approximately $3.51 billion. This investment marks Meta’s deepening commitment to AI-powered wearable technology.
Shares of EssilorLuxottica, the French multinational behind iconic eyewear brands like Ray-Ban and Oakley, rose 5.3% on Wednesday morning after reports emerged that Meta Platforms Inc. has acquired a minority stake in the company, reportedly valued at €3 billion (approx. $3.51 billion).
The strategic investment, according to sources cited by Bloomberg, may lead to Meta expanding its share in the company to up to 5%. While Meta has declined to comment, the move aligns with the tech giant’s broader ambition of expanding its presence in the AI-powered wearable tech segment — a top priority for CEO Mark Zuckerberg.
Meta and EssilorLuxottica first partnered in 2019, launching their first-generation Ray-Ban Meta smart glasses in 2021. It was the second-generation model, equipped with Meta AI voice assistant and features such as visual landmark recognition, recipe assistance, and voice messaging integration with WhatsApp and Messenger, that brought substantial traction.
EssilorLuxottica CEO Francesco Milleri, in a statement earlier this year, revealed that 2 million pairs of smart glasses had been sold since late 2023. The company is targeting 10 million units annually by the end of 2026. Building on the success, both firms recently announced plans to expand the smart glasses lineup under Oakley and Prada branding.
This deepened financial involvement could provide Meta with greater control over hardware innovation and scaling production, giving it a competitive edge in the evolving AI wearables space.
The development comes at a time when tech companies worldwide are accelerating efforts in augmented reality, voice AI, and smart devices that blend daily utility with digital integration.