Meta Platforms has significantly advanced its strategy in augmented reality eyewear by acquiring a roughly 3 percent stake in EssilorLuxottica—valued at just under €3 billion ($3.5 billion). Reports from multiple news outlets confirm that this investment cements and extends the successful collaboration between the two companies, which began with the 2021 launch of Ray-Ban Meta smart glasses.
The smart glasses category has shown remarkable consumer interest and sales momentum. EssilorLuxottica revealed that more than two million pairs of Ray-Ban Meta glasses had been sold since October 2023. Meanwhile, the companies recently debuted Oakley-branded Meta smart glasses aimed at performance users, capable of capturing 3K video and integrating Meta AI for hands-free interactions.
Meta’s move affords it greater access to EssilorLuxottica’s global manufacturing infrastructure, luxury brand portfolio (including Prada and Chanel), and expansive retail network spanning over 17,000 storefronts worldwide. It’s a strategic effort to shift smart glasses from niche gadgets to mainstream fashion-forward accessories—a blend of technology and style.
Financial markets reacted favorably: shares in EssilorLuxottica rose approximately 5–6 percent following the announcement . Analysts note that Meta might increase its stake to about 5 percent in the future, signaling long-term commitment.
From Meta’s perspective, this investment supports CEO Mark Zuckerberg’s broader vision: to integrate AI and wearable platforms more deeply into everyday life. Meta’s Reality Labs—responsible for VR/AR hardware—could suffer losses of around $20 billion in 2025, but the company sees smart glasses as a more immediate and potentially mass-market hardware platform. Smart glasses sales already exceeded $6 billion globally in 2024 and are projected to grow to $16 billion by 2034.
This move positions Meta well ahead in the competitive race. The company currently holds more than 60 percent of the smart glasses market share in 2024. Still, rivals including Google (with Kering and Warby Parker), Apple, Samsung, and Xiaomi are intensifying efforts in smart eyewear.
Analysts argue that gaining control over hardware production and distribution is crucial for Meta’s strategy. Owning a stake in EssilorLuxottica grants Meta access to nuanced manufacturing data and direct input into retail positioning—advantages that may prove decisive as the company seeks to redefine smartphones’ role in people’s lives.
EssilorLuxottica has embraced the partnership, with CEO Francesco Milleri acknowledging the collaborative potential of merging advanced technology and fashionable design. The company’s smart glasses segment has already become a meaningful revenue source, contributing to around 6 percent year-over-year growth in 2024 . EssilorLuxottica now plans to scale capacity dramatically—targeting ten million smart glasses produced by the end of 2026.
Meta’s vision extends beyond hardware sales. Zuckerberg has emphasized that AI and the metaverse are interconnected, with smart glasses potentially offering voice-based AI interaction and real-time translation via wearable devices by the end of the decade. Indeed, next-generation products promise multimodal AI capabilities—integrating vision and speech to offer immersive and context-aware functionality .
This strategic stake acquisition reflects Meta’s conviction that wearables will drive the next wave of AI adoption and reshape digital engagement. By embedding AI into everyday eyewear, Meta seeks to gradually shift users away from screens toward more natural, ambient interactions—a transition expected to unfold over the next decade.
In summary, Meta’s €3 billion investment in EssilorLuxottica marks a pivotal moment in its hardware evolution—from VR headsets to consumer-facing AR wearables. By aligning with a global eyewear leader, Meta aims to scale production, integrate AI capabilities, and transform smart glasses into mainstream lifestyle essentials. How effectively its competitors respond—and how rapidly adoption accelerates—will determine whether this marks the tipping point of the next generation of smart devices.
