EssilorLuxottica and Meta join forces to develop connected glasses

Meta is investing €3 billion in EssilorLuxottica to develop smart glasses enhanced with artificial intelligence. This booming market is attracting all the tech giants, who see these glasses as the future of the smartphone.

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Facebook's parent company, Meta, is partnering with global eyewear leader EssilorLuxottica to develop connected glasses, or smart glasses. According to Bloomberg, Meta will increase its stake in the leading eyewear company by acquiring a 3% stake, worth €3 billion. This announcement, made on Wednesday, July 9, has already boosted EssilorLuxottica's stock price, as the smart glasses market is a rapidly expanding sector, driven by artificial intelligence.

With this operation, the American internet giant is going a step further than the simple partnership established since 2019 with Essilor and the Ray-Ban eyewear brand. Together, they have already marketed connected glasses that allow you to make phone calls, take photos, videos, and listen to music. By 2024, Meta/Ray-Ban glasses had sold two million units, but with new advances in AI, the technology should be further improved and sales could increase significantly. This, in any case, is Meta's stated objective.

Right now, everyone is betting on smart glasses , One of the major trends of the coming years. Smart glasses are seen as the logical next step in the smartphone or smartwatch. The expected features are numerous. They see what we see, it's possible to talk to them, make a call by voice without using a keyboard, and they respond. Recent models feature artificial intelligence capable of recognizing the environment or translating a conversation. Unlike the telephone, it's possible to wear them while keeping your hands free. Glasses also remain fashion accessories, which opens up numerous opportunities.

The market is becoming very competitive and finally mature. More than ten years ago, Google failed with its Google Glass. The company may have been right too soon, but its product was undoubtedly unfinished. Today, all the tech giants are investing massively in these products. Apple is working on its Apple Glass. Amazon, via Alexa, its voice assistant, is developing a project with Safilo, a major frame manufacturer. Google is also seeking alliances via Android. Not to mention Chinese groups like Xiaomi, Oppo, and TCL, which are also investing in this market. The big names in optics are also interested, as are major luxury brands.