MILAN (Reuters) – Renowned eyewear manufacturer EssilorLuxottica is gearing up to ramp up its production capabilities for smart glasses, with ambitions to broaden its partnership with Meta to encompass other brands, as highlighted by Chief Executive Francesco Milleri during discussions held late on Wednesday. The collaboration between EssilorLuxottica and Meta has been ongoing since 2019, leading to the development of two iterations of Ray-Ban smart glasses. Last year, the two companies struck a new long-term agreement that is poised to propel their collaboration well into the forthcoming decade.
Smart glasses, equipped with built-in computing technology and microphones facilitating voice commands for seamless connectivity to smartphones and various devices, represent a burgeoning frontier in the tech world. Milleri stated that EssilorLuxottica has successfully retailed over 2 million units of Ray-Ban Meta since its debut in September 2023. “The activation rate and usage duration have displayed a consistent upward trend post-launch, underscoring the assimilation of this product into our everyday routines,” Milleri conveyed during a post-results conference call with analysts.
The CEO hinted at the group’s contemplation of forthcoming product launches featuring novel functionalities and brand collaborations. “Adhering to our inclusive business model, we view this product as a versatile platform poised to onboard third-party brands and novel functionalities, including through subscription-based services,” he further elaborated. Milleri revealed that the organization is expanding its manufacturing capacity for Ray-Ban Meta, with a target of achieving an annual output of 10 million units by the conclusion of the next year. This heightened capacity could also cater to other smart glasses and Nuance Audio glasses, incorporating a discreet open-ear hearing solution.
Deputy CEO Paul du Sallant disclosed that the supplementary production facilities would be established in China and other locations in Southeast Asia. (Reporting by Elisa Anzolin; Editing by Christina Fincher)
