Tech Desk 
Jul 20, 2024
Meta, the biggest tech giant, is willing to invest billions in EssilorLuxottica, a European eyewear giant and parent company of Ray-Ban. This deal will give Meta a stake of about 5% in the €88 billion-valued firm.
Already, the two have worked on not one but two generations of Ray-Ban smart glasses.
However, Meta wasn't the only tech company that approached EssilorLuxottica. Google also approached the company on integrating its AI assistant, Gemini, into future smart glasses. However, if this becomes true then this move could cut Meta out of the deal.
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EssilorLuxottica is a European fashion and retail company, not some tech company. The global inflation and higher costs have weakened its profit margin. It rose only 7% in the last year, less than peers.
A partnership with a popular tech giant may help the company become successful in the tech market. It would also give Meta a tighter grip on the features such as design and functionality to be implemented in its upcoming smart glasses.
Interestingly so far, the Meta-Ray-Ban collaboration has been successful, with the companies coming up with two generations of smart glasses. They are equipped with several powerful features including, cameras, microphones, and touch controls. They further allow the users to taking photos, make calls, and sending messages.
