Could Meta be making a fashionable move?
CEO Mark Zuckerberg’s recent stylish appearances and the growing popularity of Ray-Ban Stories hint at Meta’s potential venture into the fashion world.
Late last week, The Wall Street Journal reported that Meta is in talks to acquire a 5% stake in EssilorLuxottica, the company behind Ray-Ban sunglasses.
EssilorLuxottica, which Meta has partnered with for Ray-Ban Stories, owns brands like Oakley and Sunglass Hut.
This investment is seen as a strategic move to dominate the wearable tech market, securing Meta as the exclusive partner for EssilorLuxottica’s design IP and distribution.
The deal, worth around $5 billion, could significantly boost Meta’s metaverse ambitions while ensuring its foothold in the fashion tech space.