EssilorLuxottica, the maker of iconic eyewear brands like Ray-Ban and Oakley, has confirmed interest from Meta Platforms Inc., the owner of Facebook, in acquiring a stake in the company. During a recent conference call, CEO Francesco Milleri shared that Meta hopes to strengthen their long-standing partnership primarily focused on the development of smart glasses.

Speculation surrounding Meta’s interest includes the possibility of acquiring up to a 5% stake in EssilorLuxottica. However, Miller clarified that the company does not intend to initiate a capital increase for this purpose; instead, Meta would need to purchase shares on the open market if they wish to invest.

EssilorLuxottica has shown solid financial performance, posting a 10.6% increase in adjusted net income for the first half of the year, amounting to €1.75 billion. Despite challenges in North America due to declining sales at Sunglass Hut, the company experienced a robust 7.9% revenue increase in the Europe, Middle East, and Africa region.

The collaboration between EssilorLuxottica and Meta has been ongoing, with the introduction of Ray-Ban smart glasses that allow users to capture photos, listen to music, and respond to calls. As technology continues to blend with fashion, the prospect of deeper ties between these two leaders could redefine the eyewear market.

With Meta’s innovative approach to AI-enhanced eyewear and EssilorLuxottica’s strong brand presence, a potential partnership could pave the way for groundbreaking advancements in the eyewear industry.