Meta to buy 5% of EssilorLuxottica

The Wall Street Journal reported that Meta was in talks to buy up to 5% of EssilorLuxottica, the company that owns leading sunglass brands like Ray-Ban. A few Vestact clients have been long-term holders of their shares, even before the merger of Essilor (French, lens maker) and Luxottica (Italian, frame designer).

Meta and Ray-Ban have been working together for a few years developing smart-glasses, so the tie-up makes sense. The first generation product launched in 2021 and the more successful second generation arrived in October 2023. The rumours are that the third generation of their smart-glasses will come out in the middle of 2025.

With the rise of AI, using 'smart' headgear makes more sense. Meta's competition is Apple's Vision Pro, which appeals more to an indoor setting. I can easily envisage people buying stylish AI-powered Ray-Bay glasses. The forecast is for society to do more things on screenless devices. Imagine something along the lines of calling an Uber, ordering supper from Sixty60 and turning your apartment's central heating on, all from your glasses. Also, taking photographs of daily activities is a breeze.