Shares of Ray-Ban maker EssilorLuxottica jump on reported Meta stake
Smart Ray-Ban glasses, Caen, Normandy, France on June 16, 2024.
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Ray-Ban Maker shares Essilorluxottica Reports rose to over 5% on Wednesday Meta Due to the increase in appetite for wearable devices working with AI, the company received a minority share.
It was reported that Meta received a share of approximately 3 billion euros ($ 3.51 billion) in Essilorluxottica in the current market price and considering more investment that can expand its share to 5%, Bloomberg reported Tuesday refers to anonymous resources familiar to the issue.
When Essilorluxottica did not respond immediately, Meta refused to comment when he contacted CNBC.
Essilorluxottica shares increased by 5.3% until London.
Investment, if approved, directs the growing ways of Meta to wearable technology – a main priority for CEO Mark Zuckerberg – the company’s opportunity to create its own hardware.
Meta and Essilorluxottica first established a partnership in 2019 and produced two generations of rail-ban meta smart glasses. The first version was released in 2021, but the duo had a greater success with the second -generation model.
This version is equipped with meta AI sound assistant and includes features that allow users to identify city symbols, get recipes when looking at materials, and send voice messages to WhatsApp and Messenger.
Francesco Milleri, CEO of Essilorluxottica, said that in February, companies have sold 2 million pairs of meta rail-banks since the end of 2023 and aimed to increase annual production by the end of 2026.
The two companies said that they plan to publish versions of AI -supported smart glasses under Oakley and Prada brands last month.
– Salvador Rodriguez and Jonathan Vanian from CNBC contributed to this report.
