Meta buys £2.6bn stake in Rayban maker Essilor Luxottica amid VR sunglasses push
The owner of Facebook has snapped up just under 3 per cent of the £100billion Franco-Italian group and is considering further investments which could see its share boosted to 5 per cent, Bloomberg reported.
The pair have worked together since 2019 and launched Meta smart glasses, which cost around £300 and allow users to take photos and videos, listen to music, make calls and livestream.
Around 2m pairs of Meta Ray-Bans have been sold since late 2023, according to EssilorLuxottica boss Francesco Milleri in February.
The group plans to boost annual production to 10m by the end of 2026. And the firms are planning to soon sell smart glasses under the Oakley and Prada brands.
Ray-Bans are famously worn by Tom Cruise in Top Gun and its sequel, Top Gun: Maverick.
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