Meta and Ray-Ban maker EssilorLuxottica extend smart glasses collaboration

EssilorLuxottica (OTCPK:ESLOF) (OTCPK:ESLOY) said it has extended its partnership with Meta Platforms (NASDAQ:META) under which the two 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.

“We invest hundreds of millions every year in R&D to create products that improve quality of life for billions of people, and impact how they see the world and each other. The incredible work we’ve done with Meta, still in its early stages, has already proven to be an important milestone in our journey to making glasses the gateway to the connected world,” said EssilorLuxottica’s Chairman and CEO Francesco Milleri.

The press release had no mention of any potential possibility of Meta acquiring a stake in the French company. In July, it was reported that Meta was considering acquiring a stake in Ray-Ban glasses maker.

The companies said the latest generation of Ray-Ban Meta glasses, launched in the Fall of 2023, have advanced technology built into Ray-Ban’s frames that includes the ability to make phone calls, capture and share photos and videos, listen to music, and livestream content.

The companies added that the recent integration of Meta AI in the U.S. and Canada, lets users get things done, be inspired and connect more easily.