Could Meta be expanding into the world of fashion? It is possible, especially in light of CEO Mark Zuckerberg's recent fashion endeavours. With Ray-Ban Stories glasses becoming a popular accessory, Meta might become a fashion brand.
The Wall Street Journal recently reported that Meta is discussing acquiring a 5% stake in EssilorLuxottica, the company behind the iconic Ray-Ban sunglasses. EssilorLuxottica, with whom Meta has collaborated on Ray-Ban Stories for several years, owns various fashion brands besides Ray-Ban, including Oakley and Sunglass Hut. This potential investment is a strategic move to fend off competition in the rapidly growing wearable tech market, ensuring that Meta remains the exclusive partner for EssilorLuxottica's design and distribution.
The Deal's Financial Impact
According to The Wall Street Journal, the deal is valued at around $5 billion, which could significantly bolster Meta's efforts in metaverse development. Meta reports that demand for Ray-Ban Stories currently outstrips production capacity. With plans to introduce fully AR-enabled sunglasses later this year, securing a strengthened partnership with EssilorLuxottica could provide Meta with a substantial advantage in creating functional and stylish devices.
A Broader Fashion Partnership
EssilorLuxottica also owns Supreme, the trendy fashion brand known for its high-profile customers. Earlier this month, EssilorLuxottica acquired Supreme, indicating a move into different fashion areas, which might influence Meta's decision to buy a stake in the company.
While the AR wearables angle is the most logical and immediate reason for the partnership, Meta can also collaborate with Supreme on limited-edition fashion drops available exclusively on Facebook and Instagram. This could potentially rejuvenate Meta's apps. Imagine a Supreme version of the Quest headset; it could draw significant attention.
Looking Towards the Future
While this partnership remains speculative, the potential roadmap could make Meta's apps appealing to younger audiences, with a long-term vision of turning the metaverse into the ultimate virtual hangout spot. This move might encompass more than AR glasses, as Meta seeks to ensure its future projects remain popular.
Meta has yet to confirm the stake acquisition officially. However, the prospect of a broader fashion crossover between Meta and Supreme, alongside its investment in AR glasses, could signal exciting developments ahead. This strategic move could help Meta maintain its edge in the tech world while appealing to fashion-forward consumers.
