Meta is widely reported to be in talks to purchase a five percent stake in Ray-Ban owner EssilorLuxottica.
According to calculations by Reuters based on LSEG data, the stake could be worth $4.73 billion based on an overall company valuation of over $94 billion.
The Italian-French multinational corporation and owner of Ray-Ban, EssilorLuxottica, is already collaborating with Meta on Ray-Ban Meta smart glasses, which recently surpassed sales of Ray-Ban’s first generation of smart glasses ‘Ray-Ban Stories’.
Earlier this month, Mark Zuckerberg, the CEO of Meta, commented on the success of Ray-Bay Meta smart glasses, along with plans to expand production: “The Ray-Ban Meta product, the demand for it has been so much higher than we expected, which, on the one hand, you love to see.
“On the other hand, it’s sort of a bummer that we haven’t made enough of them and it’s sold out in most of the styles.
“We’re ramping up production and ramping up the factory lines and all that to be able to make more.”
The deal could give Meta greater influence over the direction EssilorLuxottica takes over the smart glasses arm of its global eyewear enterprise as it vies for dominance within the market against the likes of Apple, Google, and Microsoft.
In May this year, for example, Apple awarded $410 million from its Advanced Manufacturing Fund for II-VI, a leading optical technology manufacturer. That is on top of an initial $390 million investment in 2017.
What is EssilorLuxottica?
EssilorLuxottica is the parent company to Ray-Ban, Oakley, Essilor, Persol, Sunglass Hut, OPSM, and LensCrafters, and it licenses sunglasses frames for designer brands, such as Chanel, Prada, Giorgio Armani, Dolce and Gabbana, Michael Kors, Versace, Burberry, and more.
Within the world of smart glasses, as well as possessing Ray-Ban, EssilorLuxottica is also the owner of Nuance Audio, HELIX, and EssilorLuxottica Smart Eyewear Lab, making it a major presence in the smart glasses space.
EssilorLuxottica’s share price has increased by nearly 7 percent following the reports of Meta’s interest in becoming a stakeholder of the corporation.
Ray-Ban Meta Smart Glasses
Ray-Ban Meta smart glasses have improved upon the previous generation by including Meta’s in-built AI technology, as well as upgrading the audio, camera, charging capabilities, plus the look and feel of the glasses.
From an audio perspective, Ray-Ban Meta is reportedly 50 percent louder, with twice the amount of bass.
The camera has a new ultra-wide 12 MP camera for better photo quality and 1080p videos of up to 60 seconds. You can share photos with friends and family with the “send a photo” voice command and engage in hands-free live streaming to Facebook or Instagram.
The glasses are powered by Qualcomm Snapdragon AR1 Gen1 Platform, which Meta says will produce higher quality photo and video processing.
A redesigned charging case will hold up to eight more charges, equating to 36 hours of total use.
In terms of the frames, it is continuing to use the Wayfarer style, along with a new ‘Headliner’ design, both of which can be purchased in matte black, shiny black, and three further colour options.
