On Tuesday, a board member for French-Italian eyewear/optics giant EssilorLuxottica said that Meta holds a stake of at least 3% in the group, owner among others of the Ray-Ban brand, with which Meta is collaborating.
The Ray-Ban and Meta logos featured at the EssilorLuxottica stand at the VivaTech trade show in Paris – (Reuters – Benoit Tessier)
The fact that Meta has a stake in EssilorLuxottica had been reported by several sources in the past, but it hadn’t until now been confirmed by either group. Meta and EssilorLuxottica are collaborating closely on the Ray-Ban Meta connected glasses.
José Gonzalo, executive director of French public investment bank Bpifrance and a member of the EssilorLuxottica board, said that the Meta stake could grow. “[Meta] holds at least 3% [of EssilorLuxottica],” said Gonzalo, adding that the figure could possibly rise up to 5%, though it is more likely it will be closer to the bottom end of the 3-5% range. “Nothing is stopping [Meta] from growing [its stake],” said Gonzalo.
Contacted by Reuters, Meta declined to comment for the time being, while EssilorLuxottica was not available for comments.
Gonzalo also said that Meta isn’t currently seeking to sit on EssilorLuxottica’s board. “They aren’t on the board, and haven’t asked to be represented on it,” he stated.
(Reporting by Mathieu Rosemain, with Elisa Anzolin and Tassilo Hummel; French version by Coralie Lamarque, edited by Kate Entringer)
