Meta in talks to take 5% stake in Ray-Ban owner

The Facebook owner is intensifying its push into smart glasses. File picture

Meta Platforms is in talks to take a minority stake in the maker of Ray-Ban sunglasses, as the Facebook owner intensifies its push into smart glasses.

Meta, which has collaborated with EssilorLuxottica on Ray-Ban / Meta smart eyewear, is considering a stake of more than 3% and as much as 5% in the luxury eyewear group, which would be valued at about €4.5bn at current prices, according to people familiar with the discussions, who asked not to be identified because the information is not public.

There is no guarantee that an investment will take place, they said.

A spokesperson for Meta didn’t immediately respond to a request for comment. A spokesperson for EssilorLuxottica declined to comment.

By taking a stake in EssilorLuxottica, the social media giant would deepen its partnership with the world’s biggest eyewear company. It would also presumably gain more influence over a business that’s key to its virtual and augmented reality efforts and strengthen its position against rivals.

Snap has been experimenting with mixed-reality spectacles for years while Apple released the Vision Pro headset earlier this year.