Meta

Meta in Talks to Acquire 5% Stake in Ray Ban for $5B to Boost AR Sunglasses

July 22, 2024 at 6:12:12 AM

TL;DR Meta is considering acquiring a 5% stake in EssilorLuxottica, the maker of Ray Ban sunglasses, to strengthen its AR glasses IP. This $5 billion deal would secure Meta's exclusive partnership for design and distribution, aiding its metaverse ambitions. Additionally, EssilorLuxottica's recent acquisition of fashion brand Supreme could lead to broader collaborations, potentially making Meta's apps more appealing to younger audiences.

Meta in Talks to Acquire 5% Stake in Ray Ban for $5B to Boost AR Sunglasses

Meta is reportedly in talks to acquire a 5% stake in EssilorLuxottica, the company behind Ray Ban sunglasses, for around $5 billion. This move aims to strengthen Meta's position in the wearable tech market and secure exclusive rights to EssilorLuxottica’s design IP and distribution. The partnership could help Meta meet the high demand for its Ray Ban Stories and future AR-enabled sunglasses.

EssilorLuxottica, which also owns brands like Oakley and Sunglass Hut, recently acquired Supreme, a trendsetting fashion brand. This acquisition hints at potential collaborations beyond AR wearables, such as exclusive fashion drops on Meta’s platforms or a Supreme-branded Quest headset. These initiatives could enhance Meta's appeal to younger audiences and integrate fashion more deeply into its metaverse ambitions.

While no official confirmation has been made, the potential partnership could signify a broader strategy to make Meta’s apps more popular and build the metaverse as a premier virtual hangout destination.