Meta Platforms CEO Mark Zuckerberg has described the company’s potential investment in eyewear manufacturer EssilorLuxottica as a “symbolic” gesture aimed at solidifying a long-term partnership.
In an interview with technology news outlet The Verge, Zuckerberg noted that this investment, while discussed, would not be substantial, emphasizing that it is meant to reinforce their collaborative efforts.
Earlier this month, EssilorLuxottica announced the extension of its partnership with Meta, focusing on the development of smart eyewear.
“We want to have this be a long-term partnership, and as part of that, I thought that this would be a nice gesture,” Zuckerberg stated.
He expressed strong confidence in EssilorLuxottica’s potential, suggesting that the company is poised to evolve from being a leading eyewear manufacturer to a significant player in the technology sector.
In July, EssilorLuxottica confirmed discussions regarding a possible investment by Meta, following a report by the Wall Street Journal indicating that the tech giant might acquire a 5% stake in the French-Italian company. Since 2019, the two firms have collaborated on creating Ray-Ban-branded smart glasses, and Zuckerberg indicated that sales of the latest version have surpassed expectations.
Zuckerberg revealed that demand for the Ray-Ban Meta glasses has been “much stronger than expected,” leading to sales that far exceeded initial projections.
“We thought that Ray-Ban Meta was probably going to sell three or five times more than the first version did. And we just dramatically underestimated it,” he remarked.
The CEO acknowledged that gauging the actual demand for the Ray-Ban Metas has been challenging due to stock shortages, but he assured that production issues have been addressed with additional manufacturing lines.
During Meta’s recent Connect conference, Zuckerberg also unveiled new features for the Ray-Ban Meta smart glasses, including real-time AI video processing and live language translation capabilities. These enhancements aim to make smart glasses more integrated with daily activities, allowing users to interact with their surroundings more intuitively.
The introduction of features like QR code scanning, reminders, and partnerships with services such as iHeartRadio and Audible reflects Meta’s vision for smart glasses as the next significant consumer device. The glasses will soon offer real-time AI video capabilities, allowing users to ask questions about their environment and receive immediate answers.
Reuters, Tech Crunch, and the Verge contributed to this report.
