Meta today reportedly invested $3.5 billion in EssilorLuxottica, gaining a stake of less than 3% in the leading eyewear company. For your information, EssilorLuxottica has a number of popular brands under them, including Ray-Ban and Oakley.
In addition, it is also said that Meta plans to increase their stake in the company to around 5%.
Mark Zuckerberg is ready to make a high investment in the smart glasses arena. They are leading this arena, where they are ready to offer their Ray-Ban branded smart glasses in several countries. In fact, Mark Zuckerberg has also shown future plans, by integrating a number of things into their smart glasses, including Meta AI support for interaction.
Mark Zuckerberg was previously disappointed because he was slow to act in the smartphone arena which is now dominated by Apple and Google. This has made Mark Zuckerberg focus more on several new arenas, including virtual reality, smart glasses and artificial intelligence.
In addition to Meta, Google has also previously invested in the eyewear company Warby Parker.