Meta is in talks to acquire a stake of about five per cent in Ray-Ban production partner EssilorLuxottica, the Wall Street Journal has found.

The stake in the world's largest eyewear company could be worth around €4.33 billion ($4.73 billion), as the eyewear giant is currently valued at €86.5 billion, according to calculations by Reuters.

The move comes after Meta launched its first Ray-Ban Meta smart glasses in 2021, which have since been an important part of the company’s consumer portfolio.

In July 2024 EssilorLuxottica chief executive Francesco Milleri highlighted that the newer version of the Ray-Ban Meta smart glasses, released in October 2023, has outperformed the previous model's two-year sales within a few months.

A third generation of the glasses is expected to be ready by the 2025 holiday-shopping season, according to the WSJ report.

A stake in Essilor Luxottica could see Meta gain greater influence over the development of smart glasses, as other tech giants including Apple seek to expand their augmented and mixed-reality technology-led portfolio offering.

Following the news on Meta’s interest in the acquisition, EssilorLuxottica's Paris-listed shares were up three per cent after the report, while Meta gained 1.2 per cent.

The eyewear company was formed in 2018 through a merger of French prescription lenses specialist Essilor and Italian eyewear conglomerate Luxottica.

Delfin, the holding entity controlled by the family of Luxottica's late founder Leonardo Del Vecchio, currently remains the major shareholder with a 33 per cent stake.

---