EssilorLuxottica and Meta Ink Long-Term Partnership for Smart Eyewear

PARIS—EssilorLuxottica (Reuters: ESLX.PA) announced early this morning that it has entered into a new long-term agreement that extends it partnership with Meta Platforms (NASDAQ: META), under which the parties will collaborate into the next decade to develop multi-generational smart eyewear products. The two companies have been collaborating since 2019, resulting in two generations of Ray-Ban branded smart glasses that have redefined the potential for consumer wearables. The line of Ray-Ban Meta glasses has garnered widespread adoption in that time, which the company attributes to the balance struck between form and function, combining EssilorLuxottica's industry knowledge and global network of retail and wholesale locations together with Meta’s advancements in technology. According to the company, the glasses are in high demand in the markets in which they’re available, including the U.S., Canada, the UK, Australia and many European countries including Austria, Belgium, Denmark, Finland, France, Germany, Ireland, Italy, Norway, Spain and Sweden.