Meta holds 3% stake in EssilorLuxottica
Facebook-owner Meta owns at least a 3% stake in EssilorLuxottica, the European company behind Ray-Ban glasses, a board director confirmed on Tuesday, News.Az reports, citing Reuters.
The Meta investment had been previously reported by sources but had not been officially confirmed by either company. Meta and EssilorLuxottica are collaborating closely 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 the stake could increase.
"It's at least 3%," Gonzalo noted, adding it could be as high as 5%, though it is likely toward the lower end of that range. He also remarked that "nothing is stopping them from continuing to grow (their stake)."
Meta did not immediately respond to requests for comment, and EssilorLuxottica was also unavailable.
Gonzalo emphasized that Meta is not seeking a board seat at this time.
"They are not represented on the board, and they have not asked for representation," he said.
Similar news
