Meta Platforms Inc. has acquired a minority stake in EssilorLuxottica SA, the world’s largest eyewear manufacturer, to reinforce the company’s commitment to expanding its presence in the smart glasses market.
Sources familiar with the transaction disclosed that the Facebook parent purchased just under 3% of EssilorLuxottica in a deal valued at approximately €3 billion ($3.5 billion) based on current market prices.
The Menlo Park-based technology firm is reportedly considering increasing its holding to around 5% over time, though those plans remain subject to change.
The investment underlines Meta’s long-term strategy to integrate artificial intelligence into wearable hardware as it seeks to reduce dependence on smartphones made by rival companies.
The company’s collaboration with EssilorLuxottica began in 2021 with the launch of Ray-Ban smart glasses featuring built-in cameras and an AI assistant capable of real-time tasks such as image captioning and stock updates.
Shares of EssilorLuxottica rose as much as 7.1% in Paris following the news, marking the largest single-day gain in three months. The surge reflects investor optimism that the strengthened partnership will accelerate growth in the smart eyewear segment.
Analysts at Bernstein described the move as “another step in Meta’s commitment to the smart-glasses category” and noted that the deal demonstrates confidence in EssilorLuxottica’s manufacturing and global distribution capabilities.
Last month, Meta expanded its collaboration with EssilorLuxottica by launching Oakley-branded smart glasses. EssilorLuxottica Chief Executive Officer Francesco Milleri previously confirmed that Meta had expressed interest in acquiring a stake in the company, but negotiations did not materialize until now.
The arrangement is expected to provide Meta with greater access to manufacturing know-how and global retail networks, which are critical to scaling smart glasses for mainstream use.
The company aims to position smart eyewear as a core component of its AI ecosystem as part of a broader strategy to offer hardware alternatives to mobile devices.
Industry data indicates that the global smart glasses market is projected to reach $8.26 billion by 2030, up from an estimated $1.93 billion in 2024, according to GrandView Research.
The partnership positions Meta to capture a larger share of this growing sector as it competes with other technology firms exploring similar products.
Apple Inc. has also adjusted its approach to smart eyewear, shifting focus to non-augmented reality models in response to current technological limitations.
Analysts at Jefferies noted that Google’s collaboration with Kering Eyewear and Xiaomi’s recent market entry further signal intensifying competition.
Neither Meta nor EssilorLuxottica provided official comments on the stake acquisition. However, the move aligns with CEO Mark Zuckerberg’s ongoing investment in AI-driven hardware, a priority that remains central to the company’s long-term expenditure plans.
