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Meta Invests $3.5B in Ray-Ban, Oakley Maker to Create AI Smart Glasses
Meta has reportedly invested $3.5 billion in EssilorLuxottica, the eyewear company that owns Ray-Ban and Oakley. The two companies have been in partnership since 2020, collaborating on glasses featuring artificial intelligence technology.
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It was rumored last year that Meta was seeking a minority stake in French-Italian eyewear conglomerate EssilorLuxottica, not only the largest eyewear manufacturer in the world, but also Meta’s partner ...
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The California-based eyewear brand was founded by motocross enthusiast Jim Jannard but is now a part of EssilorLuxottica.
It comes amid reports the Facebook and Instagram owner has purchased a minority stake in Oakley and Ray-Ban owner EssilorLuxottica SA.
Meta Platforms (NASDAQ:META) has acquired a small non-controlling stake in eyewear holding company EssilorLuxottica ...
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