EssilorLuxottica is betting big on smart eyewear and the gamble is about to be tested. Its Ray-Ban Meta glasses, powered by artificial intelligence, have delivered their first meaningful revenue boost this year, but analysts warn that privacy concerns and a wave of new rivals could limit their growth.
Ray-Ban Meta glasses – Ray-Ban
The frames, launched in 2021, promise to upend the smartphone era by letting wearers take photos and videos through tiny cameras in the lenses, stream content to Meta apps, and talk to an AI assistant. Yet the same features that promise to make the AI-powered frames- born from the collaboration between Mark Zuckerberg‘s Meta and French-Italian eyewear giant EssilorLuxottica- into a must-have device are sparking concerns, as bystanders have little control over being recorded or how their data is handled.
“AI smart glasses raise significant privacy concerns,” said Kleanthi Sardeli, a lawyer at European digital rights advocacy group NOYB. “The main issues are linked to the use of people’s personal data to train AI models and transparency for bystanders.”
Meta Platforms, which owns Facebook, Instagram, and WhatsApp and generates the bulk of its revenue from advertising, is leveraging user data to power artificial intelligence tools, a move that brought the company to face scrutiny over data practices.
European regulators have flagged risks since 2021, when Italy and Ireland asked Meta to clarify how it complied with local privacy laws. Ireland’s Data Protection Commission questioned whether a tiny LED indicator was enough to alert people they were being filmed, prompting Meta and EssilorLuxottica to enlarge the light and add a blinking pattern.
Privacy concerns are particularly strong in the European Union, where stricter regulations have slowed adoption of some AI features. AI-enabled wearables are regulated by the EU’s AI Act and the General Data Protection Regulation, or GDPR.
“Any recording of individuals must be clearly communicated and must have a legal basis to record individuals,” unless the data was processed for purely personal or household reasons, a European Commission spokesperson said. But enforcing those rights is difficult when the device owner is unknown, says NOYB.
A 2024 Monash University survey of more than 1,000 Australians found owners see smart glasses as boosting their self-image and social ties, while non-users fear privacy breaches and social disruption. EssilorLuxottica said it partners “with competent authorities to drive innovation, safeguard privacy and set new industry standards.” A Meta spokesperson declined to comment beyond referring to EssilorLuxottica’s statement.
Ray-Ban Meta glasses lead the AI eyewear market thanks to a partnership that bridges tech and fashion, analysts and experts say, a gap that doomed Google Glass a decade ago. According to Barclays, EssilorLuxottica currently holds a 60% share of the smart glasses market.
“Instead of trying to make something cool, Meta partnered with people who know what’s cool,” said Ross Gerber, CEO of California-based wealth management firm Gerber Kawasaki, which holds Meta shares. But its first-mover advantage may fade as rivals launch better products, said Bernstein analyst Luca Solca. Smart glasses could also cannibalise traditional eyewear, which accounts for about a quarter of EssilorLuxottica’s revenue.
Several tech giants aim to catch up. In November Alibaba released its new Quark AI-powered glasses in China, where Ray-Ban Meta are not sold. Apple is expected to unveil its own model next year and release it in 2027, Bloomberg News reported.
Google is working with Warby Parker and luxury fashion house Kering to develop its own version, announcing on Monday it expected to launch a first product in 2026, sending EssilorLuxottica shares lower. Amazon is also reportedly exploring the market and Xiaomi launched a similar product in June.
EssilorLuxottica, the world’s biggest eyewear maker, can lean on its 18,000-store network and brands such as Prada, Armani and Chanel. “One of the key differentiating elements for them is not just their ability to produce, but also their ability to distribute, and their ability to leverage a portfolio of brands,” said Bassel Choughari, Paris-based portfolio manager at Comgest, which holds EssilorLuxottica shares. “That is an element that shouldn’t be underestimated.”
EssilorLuxottica CEO Francesco Milleri, who took over as head of the company in 2020, is steering the group towards medical technology. Smart glasses, central to this strategy, contributed more than four percentage points to EssilorLuxottica’s nine-month sales growth, sparking a 14% market rally for the 140 billion euro company, even though they account for just 2% of global sales, investor CCLA estimates.
EssilorLuxottica is looking to build on this momentum. It has widened its portfolio to sports brand Oakley and held exploratory talks with Prada, heir to the luxury brand, Lorenzo Bertelli told Reuters. In September it introduced a model with an in-lens display, operated through a bracelet that converts hand gestures into commands.
Competition is welcome, the company says: “A vibrant ecosystem will help us drive market growth, fuel innovation and expand consumer choice.”
Aditya Birla Group’s corporate social enterprise Aadyam Handwoven has named Sobhita Dhulipala as its new brand ambassador, who will contribute to the brand’s ‘Culture Beyond Textiles’ vision of preserving India’s weaving legacies.
Sobhita Dhulipala wearing a saree by Aadyam Handwoven – Aadyam Handwoven
“Aadyam has always stood for the people behind the loom, the cultures that shape our craft, and the traditions that continue to evolve. Sobhita is a woman of today who exemplifies this thinking with an innate sensitivity that is in tandem with our narrative,” said Aadyam Handwoven’s business lead Manish Saksena in a press release. “Her connect to handlooms is personal and intuitive, and her presence strengthens our endeavour to make Indian craftsmanship aspirational for a new generation.”
Aadyam Handwoven retails fashion and homeware goods designed to highlight Indian textile heritage and translate it for modern shoppers. The label aims to harness Dhulipala’s pan-India popularity to raise awareness about the brand and its textile ecosystem.
“I’ve always believed that craft carries emotion,” said Sobhita Dhulipala. “When something is made by hand, it holds the imprint of the person who created it. Aadyam’s work with weaving communities, combined with its philosophy of celebrating culture in all its forms, makes this association very special for me. I am honoured to lend my voice to a brand that champions artistry with purpose.”
One year on from his passing, Catalan fashion company Mango is commemorating the legacy of Isak Andic. In memory of its founder, who lost his life on December 14, 2024 in a tragic mountaineering accident in Barcelona, Mango has undertaken a series of commemorative initiatives across its stores and corporate channels to highlight the business, human, and philanthropic legacy of the entrepreneur, born in Istanbul in 1953.
Exterior of the Catalan brand’s store on Paseo de Gracia in Barcelona, adorned with a special tribute to Isak Andic. – Mango
In this context, some of the company’s most emblematic stores have dressed their windows with a portrait of Andic and messages inside that evoke his legacy. Specifically, the tributes have reached its stores from Paseo de Gracia in Barcelona to Serrano in Madrid, as well as international locations such as Oxford Street in London, Fifth Avenue in New York, and the Galleria Vittorio Emanuele in Milan. In parallel, Mango added a black ribbon to its e-commerce platform and shared a commemorative video on its internal channels and social media.
The audiovisual tribute, produced by company employees drawing on hours of archival footage and interviews, captures the founder’s lessons and reflections in his own voice. “Isak was a visionary who transformed a personal dream into a global brand. His legacy remains a constant source of inspiration for all of us,” the company shared on its LinkedIn profile alongside the video, adding that “his spirit lives on in every step we take towards the future, as we continue to work to fulfil his vision and ensure that Mango is a project he would be proud of.”
For his part, the group’s CEO and executive chairman, Toni Ruiz, shared a personal letter addressed to Andic, both internally and on his LinkedIn profile, in which he reaffirmed that the values that defined the founder will guide the brand’s next steps. In it, he remembers Andic as “a brilliant entrepreneur and an exceptional person,” stressing that “there has not been a single day on which we have not remembered him.” “Mango continues to sail steadily towards new horizons,” he said.
Ruiz recalled the conversations and ideas left unfinished and highlighted the trust that the founder placed in the team, noting that “Mango is made up of excellent professionals and even better people.” The executive also reviewed the milestones of the past year, from double-digit growth to international expansion and momentum across all product lines, as well as progress at Mango Campus and the company’s focus on innovation and artificial intelligence- areas that Andic always emphasised. “What could have been a difficult year, we have together turned into a historic one,” he stressed. The letter concludes with a message of gratitude on behalf of the 17,000 people who make up the company and with the phrase the founder often repeated: “the sky is the limit.”
In parallel, during the last year there have also been significant changes in the structure of the family holding company that owns Mango. Following the death of Isak Andic, his three children reorganised the family’s companies under Punta Na Holding, the entity that brings together the family investment vehicles and controls the vast majority of the fashion company’s capital. In this context, the eldest son, Jonathan Andic, stepped down in June from his position as global director of Mango Man, a role he had held for 17 years, to focus fully on managing the family’s investment companies, which include business and property investments, sharing corporate governance responsibilities with his sisters Sarah and Judith.
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Expanding women’s fashion retailer Wyse London is set to open a pop-up store in Edinburgh, Scotland, on Saturday (13 December).
Wyse London
The 550 sq ft space on Frederick Street isn’t just for Christmas as it’s opening until next May, housing the brand’s latest styles from its Autumn/Winter collection, including bestsellers the Liana Chunky Funnel Neck Jumper, Philippa Pea Coat and festive dresses and tops.
The pop-up marks the latest in a series of new store openings, “following the successful introduction to the North of England” in York in September. That became its fourth permanent UK store, joining the brand’s two in London – Chelsea and Marylebone – as well as Southwold, Suffolk.
More stores, both pop-up and permanent, are planned over 2026 both nationally and internationally, the retailer said.
Founder Marielle Wyse added: “Edinburgh has become an increasingly significant city for us, as we’ve seen a rapidly growing community of customers shopping with us online, so opening a physical pop-up feels like the natural next step.
“The city’s cultural heritage and vibrant population offers a setting that aligns perfectly with our brand values, while the thriving tourism scene brings an energy and international audience we’re excited to welcome. With a discerning retail landscape, the city gives us a unique opportunity to build deeper relationships with both existing and new customers.”
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