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EssilorLuxottica (OTC:ESLOF) extended its partnership with Meta Platforms, Inc. (NASDAQ:META) through a new long-term deal to develop multi-generational smart eyewear. The financial terms were not disclosed.
Since 2019, their collaboration has produced two generations of Ray-Ban smart glasses, reshaping wearable tech for consumers.
By perfectly combining form and function, Ray-Ban Meta glasses leverage EssilorLuxottica’s industry expertise and global retail and wholesale network alongside Meta’s technological innovations.
The company said the glasses are in high demand across several markets, such as the US, Canada, the U.K., Australia, and several European countries.
Francesco Milleri, Chairman and CEO of EssilorLuxottica, said, “Over the past six decades, EssilorLuxottica has led the transformation and modernization of the eyewear and eyecare industry, positioning among the world’s leading innovators.”
“The incredible work we’ve done with Meta, still in its early stages, has already proven to be an important milestone in our journey to making glasses the gateway to the connected world.”
In July, EssilorLuxottica planned to acquire a Supreme brand from V.F. Corporation for $1.5 billion in cash.
Image via Shutterstock
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