Meta is acquiring a nearly 3% stake in EssilorLuxottica for about $3.5 billion to strengthen its position in the smart glasses market, following their successful collaboration on AI-infused eyewear.

Information on the Target

Meta Platforms, Inc. is expanding its investment in the augmented reality sector through a minority ownership stake in EssilorLuxottica, the largest eyewear manufacturing company globally. This acquisition amounts to just under 3% of EssilorLuxottica, valued at approximately $3.5 billion, enhancing Meta's positioning in the AI-powered smart glasses market.

EssilorLuxottica, with a market capitalization exceeding $137 billion, holds a significant share in the eyewear sector with an estimated 20% market share. It is recognized as the global leader in eyewear and contact lenses and boasts a diverse portfolio that includes renowned brands such as Ray-Ban and Oakley, alongside several luxury labels through various licensing agreements.

Industry Overview in the Target’s Specific Country

The smart glasses industry is witnessing rapid growth as technological advancements, particularly in artificial intelligence, pave the way for innovative products. The global market is expect