Meta in conversations to buy a stake in EssilorLuxottica

According to news agency Reuters, Meta Platforms (META.O) is in talks to acquire a stake of around 5% in EssilorLuxottica. The Wall Street Journal first reported on the topic, citing people familiar with the matter.

According to Reuters, the stake in the world’s largest eyewear manufacturer could be worth 4.33 billion euros (4.73 billion dollars). Calculated on the basis of LSEG data, the current market value is around 86.50 billion euros.

The potential deal could give Meta more control over the smart glasses roadmap, at a time when tech giants such as Apple etc. are also working on gadgets that incorporate augmented and mixed reality technologies.
The smart Ray-Ban Meta glasses, which were first launched in 2021, are now an important part of EssilorLuxotticas product portfolio. The new generation of smart glasses from Meta Platforms and EssilorLuxottica has sold better in a few months than the old glasses did in two years, the CEO of EssilorLuxottica stated a few days ago.

EssilorLuxottica shares, which are listed on the Paris stock exchange, rose by 3% following the publication of the report, while Meta gained 1.2%.
The eyewear company EssilorLuxottica was founded in 2018 through a merger of the French Essilor and the Italian frame manufacturer Luxottica. Delfin, the holding company owned by the family of the late Luxottica founder Leonardo Del Vecchio, is the company’s largest investor, with a stake of almost 33%.