key takeaways
- EssilorLuxottica is the world’s largest glasses manufacturer.
- The company partnered with Meta to release the Ray-Ban Meta Glasses and Oakley Meta Glasses.
- EssilorLuxottica says glasses sales tripled by mid-year and contributed to the company’s 11% revenue growth in the third quarter.
Meta CEO Mark Zuckerberg believes that smart glasses could be the new smartphone and Meta has a partnership with EssilorLuxottica, the world’s largest eyewear manufacturer. sales to prove it,
“Clearly, Ray-Ban Meta wearables as a product category are on the rise,” Stefano Grassi, CFO of EssilorLuxottica, said on the company’s third-quarter earnings call Thursday. Per CNBC,
The European eyewear giant said sales increased 11.7% year-on-year – 4% of which came from wearables, specifically its Ray-Ban Meta product.
Connected: He sent Meta a cold email judging its Ray-Bans. She now runs the wearables division.
“We believe glasses will be the future,” Grassi said. “The glasses will physically replace most of the functionality we have embedded in our phones today.”
Meanwhile, in the last month keynote address At Meta Connect, Zuckerberg told the crowd he’s not surprised that “AI glasses are coming off.”
“The sales trajectory we’ve seen is very similar to some of the most popular consumer electronics ever,” he said.
EssilorLuxottica and Meta have been partners since 2019. Essilor Luxottica controls approx. 80% of eyeglass industry and owns the retail chains Sunglass Hut and Lenscrafters.
When Meta released $299 ray-ban meta In October 2023, the glasses, which take photos and videos, make calls, send text messages via voice commands, interact with meta AI and play music, were an unexpected hit, and sold even more one crore for less than a couple two years and even more two million units Overall so far.
Zuckerberg said in July 2024 that “demand is outpacing our ability to make them.” A year later, Meta acquired a slightly less than 3% stake in EssilorLuxottica, a minority stake worth approximately $3.5 billion.
Meta also released $499 oakley smartglasses In June, which are built for athletes and offer high-resolution recording and 40% longer battery life lasting up to eight hours.
Meanwhile, the success has inspired other tech giants to create their own. Apple, Google and Amazon are reportedly working on their own smart glasses.
Connected: Google is creating AI ‘intelligent eyewear’ with Warby Parker after tracking Meta’s success with Ray-Ban
key takeaways
- EssilorLuxottica is the world’s largest glasses manufacturer.
- The company partnered with Meta to release the Ray-Ban Meta Glasses and Oakley Meta Glasses.
- EssilorLuxottica says glasses sales tripled by mid-year and contributed to the company’s 11% revenue growth in the third quarter.
Meta CEO Mark Zuckerberg believes that smart glasses could be the new smartphone and Meta has a partnership with EssilorLuxottica, the world’s largest eyewear manufacturer. sales to prove it,
“Clearly, Ray-Ban Meta wearables as a product category are on the rise,” Stefano Grassi, CFO of EssilorLuxottica, said on the company’s third-quarter earnings call Thursday. Per CNBC,
The European eyewear giant said sales increased 11.7% year-on-year – 4% of which came from wearables, specifically its Ray-Ban Meta product.
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