Meta Acquires 3 Percent Of EssilorLuxottica's Shares, Ray-Ban's Parent Company

Meta acquisition of parent company Ray-Ban (photo: dock. Meta)

JAKARTA Meta reportedly acquired the glasses company secretly. The company acquired nearly three percent of the shares from the company EssilorLuxottica.

Sources familiar with the matter, according to Reuters, said that Meta bought its shares worth 3 billion euros or around Rp57 trillion. The company also plans to increase its shares by five percent.

This increase will be carried out over time. For now, there is no official information from Meta regarding the purchase of EssilorLuxottica shares. Meanwhile, the glasses manufacturer declined to comment.

Over the past few years, Meta has focused on developing smart glasses technology. This is done to keep up with the popularity of Ray-Ban Meta smart glasses. The company is also working with another manufacturer of glasses, namely Oakley.

EssilorLuxottica is a company that helps Meta produce Ray-Ban smart glasses. At the end of last year, the company revealed its long-term partnership plan with Meta.

Both agreed to collaborate until the next decade. Francesco Milleri, Chief Executive of EssilorLuxottica, had revealed his support plan to expand collaboration with Meta.

"EssilorLuxottica plans to increase its production capacity for smart glasses and hopes to expand its collaboration with Meta to other brands," Milleri said earlier this year.

By acquiring EssilorLuxottica, Meta can focus on developing more sophisticated wearable technology. This investment can also strengthen Meta Artificial Intelligence (AI) infrastructure in the realm of wearable devices.