Latest news with #FrancescoMilleri
Fashion United
4 hours ago
- Business
- Fashion United
EssilorLuxottica to acquire PUcore's optical division
EssilorLuxottica ( Monday said it has agreed to acquire South Korean company PUcore's optical division. Financial terms of the deal were not disclosed. Essilorluxotica will buy all assets and entities involved in the development, production and sale of monomers used in the manufacture of high-index ophthalmic lenses. The acquisition incudes one R&D unit, materials production facility and sales office in the Republic of Korea along with an intellectual property portfolio related to the formulations of products and production processes. "In line with our commitment to elevating standards in the research, development and manufacturing of ophthalmic lenses, this addition will allow us to widen our portfolio of patents, technologies and know-how and extend our expertise upstream in the value chain," said Francesco Milleri, Chairman and Chief Executive Officer, and Paul du Saillant, Deputy Chief Executive Officer at EssilorLuxottica.(DPA)
Entrepreneur
10-07-2025
- Business
- Entrepreneur
Meta Buys Stake in Ray-Ban Parent EssilorLuxottica to Boost AI Wearables Push
The investment represents nearly 3% of the eyewear company's shares and signals Meta's growing interest in AI-powered wearable technology. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Meta Platforms has acquired a minority stake in EssilorLuxottica, the parent company of Ray-Ban and Oakley, for around USD 3.5 billion. The investment represents nearly 3% of the eyewear company's shares and signals Meta's growing interest in AI-powered wearable technology. Meta and EssilorLuxottica have been partners since 2019, working together on smart glasses. Notable products include the Ray-Ban Meta glasses launched in 2023 and the Oakley Meta HSTN released earlier this year. These smart glasses come with features like a 12MP camera, video recording, audio playback, and Meta's AI assistant. The Oakley model also adds durability and water resistance. The new investment, worth approximately €3 billion (USD 3.52 billion), was made through stock market purchases in Paris. Following the news, EssilorLuxottica's US-listed shares rose by more than 6%. This move suggests Meta may increase its stake to 5% in the future, although it currently holds no control over the eyewear giant. The deal fits into Meta's broader strategy of developing AI-enabled consumer devices through its Reality Labs division, which also produces virtual and augmented reality products. EssilorLuxottica CEO Francesco Milleri has expressed interest in scaling up production of smart eyewear and expanding innovation across the company's brand lineup. With competitors like Apple and Google also exploring wearable tech, Meta's latest investment gives it a stronger foothold in the growing AI wearables market. So far, the deal has not faced any regulatory hurdles. While Meta's stake remains a minority holding, the partnership strengthens its hardware capabilities and signals a long-term commitment to AI-infused everyday tech.
Business of Fashion
10-07-2025
- Business
- Business of Fashion
Meta Invests $3.5 Billion in EssilorLuxottica in AI Glasses Push
Meta Plaforms Inc. bought a minority stake in the world's largest eye-wear maker EssilorLuxottica SA, a deal that increases the US tech giant's financial commitment to the fast-growing smart glasses industry, according to people familiar with the matter. Facebook parent Meta acquired just under 3 percent of Ray-Ban maker EssilorLuxottica, a stake worth around €3 billion ($3.5 billion) at the current market price, said the people, who asked not to be identified because deliberations are private. Menlo Park, California-based Meta is considering further investment that could build the stake to around 5 percent over time, the people added, though those plans could still change. EssilorLuxottica's American depositary receipts rose as much as 6.9 percent to $148, their biggest intraday jump since April 9. Representatives for Meta and EssilorLuxottica declined to comment. Meta's investment in the eyewear giant deepens the relationship between the two companies, which have partnered over the past several years to develop AI-powered smart glasses. Meta currently sells a pair of Ray-Ban glasses, first debuted in 2021, with built-in cameras and an AI assistant. Last month, it launched separate Oakley-branded glasses with EssilorLuxottica. EssilorLuxottica Chief executive officer Francesco Milleri said last year that Meta was interested in taking a stake the company, but that plan hadn't materialized until now. ADVERTISEMENT The deal aligns with Meta CEO Mark Zuckerberg's commitment to AI, which has become a top priority and major expense for the company. Smart glasses are a key part of that plan. While Meta has historically had to deliver its apps and services via smartphones created by competitors, glasses offer Meta a chance to build its own hardware and control its own distribution, Zuckerberg has said. The arrangement gives Meta the advantage of having more detailed manufacturing knowledge and global distribution networks, fundamental to turning its smart glasses into mass-market products. For EssilorLuxottica, the deal provides a deeper presence in the tech world, which would be helpful if Meta's futuristic bets pay off. Meta is also betting on the idea that people will one day work and play while wearing headsets or glasses. Shares of Warby Parker, a competing glasses-maker, rose as much as 4.3 percent on Bloomberg's report. By Daniele Lepido, Tommaso Ebhardt and Kurt Wagner Learn more: Meta Launches $399 Oakley AI Smart Glasses Meta introduces new Oakley smart glasses, expanding beyond Ray-Ban, targeting athletes and leveraging AI capabilities.
Daily Mail
09-07-2025
- Business
- Daily Mail
Meta buys £2.6bn stake in Rayban maker Essilor Luxottica amid VR sunglasses push
Meta has bought a £2.6billion stake in Ray-Ban maker EssilorLuxottica as the tech giant continues to push its virtual reality sunglasses. 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.
Time of India
09-07-2025
- Business
- Time of India
Meta takes around 3% stake in Ray-Ban-parent EssilorLuxottica, source says
Meta Platforms has acquired a nearly 3% stake in eyewear maker EssilorLuxottica, a source told Reuters on Tuesday, amid growing consumer interest in AI-powered wearable devices. Sprucing up its wearable technology with artificial-intelligence capabilities could help Meta attract new users as it invests billions of dollars in bolstering its AI infrastructure. EssilorLuxottica declined to comment, while Meta did not immediately respond when contacted by Reuters. Meta bought a stake worth around 3 billion euros ($3.52 billion) in EssilorLuxottica at the current market price and is considering further investments that could build its share to around 5% over time, according to Bloomberg News, which reported the development earlier in the day. The social media giant teamed up with Oakley to release AI-powered smart glasses last month, expanding its push into wearable tech after the success of Ray-Ban Meta glasses , millions of which have been sold since their launch in 2023. The " Oakley Meta HSTN " will feature a hands-free high-resolution camera, open-ear speakers, water resistance and Meta AI capabilities . EssilorLuxottica planned to boost its production capacity for smart glasses and hopes to expand its collaboration with Meta to other brands, Chief Executive Francesco Milleri had said in February.
