PARIS (dpa-AFX) - Facebook-owner Meta (META) reportedly holds about 3% stake in Franco-Italian eyewear giant EssilorLuxottica (ESL.DE).
According to Reuters, a board director at the European company, which owns, Ray-Ban and Oakley brands, revealed the news.
The Meta stake has previously been reported from sources but not confirmed by either firm. The pair is working closely together on Ray-Ban Meta AI-powered glasses.
The report adds that Jose Gonzalo, executive director at French state-owned investment bank Bpifrance and an independent director on EssilorLuxottica's board, said that the number could rise.
'It's at least 3%,' he said, adding it was possibly up to 5% although likely at the lower end of that range. He added that 'nothing is stopping them from continuing to grow (their stake)'.
Gonzalo added 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.
Meanwhile, the previous day, Google announced that it will release its first AI-powered glasses in 2026, as the market for wearable AI devices heats up.
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