Meta Reportedly Seeking Stake in Eyewear Conglomerate EssilorLuxottica
EssilorLuxottica was also just announced to be the new owner of Supreme.
![Meta Supreme New Owner EssilorLuxottica eyewear giant corporation company wall street journal report streetwear brand ray ban smart glasses](https://image-cdn.hypb.st/https%3A%2F%2Fhypebeast.com%2Fimage%2F2024%2F07%2F19%2Fmeta-essilorluxottica-stake-cvonversation-deal-new-supreme-owner-1.jpg?cbr=1&q=90)
Just a few days ago, it was announced that eyewear giant EssilorLuxottica would be buying Supreme for $1.5 billion USD, adding the streetwear label to its portfolio of over 150 brands.
It’s now being reported that Meta is gearing up to buy a 5% stake in EssilorLuxottica, which would effectively make the company a partial owner of Supreme, among other brands.
The tech corporation is in talks to acquire the stake, though that necessarily doesn’t mean it’ll pan out to a successful deal, The Wall Street Journal reported, citing people familiar with the matter.
Meta is already a partner with the EssilorLuxottica-owned Ray-Ban to make its collaborative smart glasses. Simply called the Ray-Ban Meta glasses, the pair uses a Ray-Ban frame, enhanced with Meta’s AI software.
Meta is reportedly looking to build on the success of the glasses and build more devices together by taking a minority stake, according to WSJ.