EssilorLuxottica, Meta enter long-term agreement for smart eyewear products

EssilorLuxottica (ESLOY) has extended its partnership with Meta Platforms (META) by entering into a new long term agreement, under which the parties will collaborate into the next decade to develop multi-generational smart eyewear products. The two companies have been collaborating successfully since 2019, resulting in two generations of Ray-Ban branded smart glasses. The company sad, “By striking the ultimate balance between form and function, using EssilorLuxottica’s know-how in the industry and its global network of retail and wholesale locations together with Meta’s advancements in technology, Ray-Ban Meta glasses have garnered excitement and widespread adoption. The glasses, now a mainstream product, are in high demand in the markets they’re available in, including the US, CA, the UK, Australia and many European countries including Austria, Belgium, Denmark, Finland, France, Germany, Ireland, Italy, Norway, Spain and Sweden.”