By Mathieu Rosemain PARIS, Dec 9 (Reuters) - Facebook-owner Meta holds at least a 3% stake in EssilorLuxottica, a board director at the European firm behind Ray-Ban glasses said on Tuesday. The Meta
Meta Confirms 3% Stake in Ray-Ban Maker EssilorLuxottica
By Mathieu Rosemain
PARIS, Dec 9 (Reuters) - Facebook-owner Meta holds at least a 3% stake in EssilorLuxottica, a board director at the European firm behind Ray-Ban glasses said on Tuesday.
The Meta stake has previously been reported from sources but not confirmed by either firm. The two companies are working closely together on Ray-Ban Meta AI-powered glasses.
Jose Gonzalo, executive director at French state-owned investment bank Bpifrance and an independent director on EssilorLuxottica's board, said Meta's investment could rise.
"It's at least 3%," and possibly as high as 5%, although likely at the lower end of that range, Gonzalo said. He also said that "nothing is stopping them from continuing to grow (their stake)".
Meta did not immediately reply to a request seeking comment, while EssilorLuxottica was not immediately available for comment.
Gonzalo said that Meta was not currently seeking a seat on the board.
"They are not represented on the board, they have not asked for representation on the board," he said.
The Ray-Ban Meta glasses, which let wearers take photos, stream content and talk to an AI assistant, have boosted EssilorLuxottica's sales this year.
However, the partnership faces growing competition from tech giants including Google, which announced plans for smart glasses with Warby Parker by 2026, and Apple, reportedly developing its own version.
(Reporting by Mathieu Rosemain;Additional reporting from Elisa Anzolin and Tassilo Hummel; Editing by Louise Heavens and Tomasz Janowski)
