Mark Zuckerberg of $META, reportedly seeks to become a part owner of the brand Supreme

We have another significant development in Mark Zuckerberg's fashion interests, extending beyond his personal wardrobe choices. According to The Financial Times, Meta is in discussions with the European eyewear company EssilorLuxottica. This deal could lead to Meta acquiring a small but notable stake in the company, which owns major fashion brands like Ray-Ban and, following a recent acquisition, the streetwear icon Supreme.

Meta is looking to acquire a five percent stake in EssilorLuxottica, valued at approximately $5 billion, while the Italian-French group has an overall valuation of $95 billion.

Cool Factor

Meta and EssilorLuxottica have already partnered, launching the "Ray-Ban Meta" smart glasses last year as part of Meta's push into the wearable tech market. These glasses are an improvement over a previous version that did not perform well. The new version features a camera capable of livestreaming video in 1080p, improved call quality, and enhanced audio. Another selling point is the integration with Meta AI, the company's conversational chatbot, though reviewers were not particularly impressed with its functionality at the time.

While the glasses haven't become a massive hit, EssilorLuxottica CEO Francesco Milleri noted that they've surpassed expectations, selling more in just a few months than the previous version did over two years. By leveraging the fashion appeal of EssilorLuxottica's brands, Meta hopes to establish a solid presence in the wearable smart tech market, potentially shedding the nerdy image associated with other AR and VR devices from competitors like Apple.

Glasses Houses

According to The Verge, Meta is likely to proceed with the acquisition. However, there could be unexpected complications, as Google has also reportedly approached EssilorLuxottica about a collaboration involving its Gemini AI. While this wouldn't directly impact Meta's plans, it could create additional competition and reduce some of the attention surrounding Meta's acquisition.

Despite Google's involvement, Meta appears undeterred. The Wall Street Journal reports that Meta plans to release a third generation of smart Ray-Ban glasses by the 2025 holiday season. With the potential acquisition of more fashion brands, it's uncertain what innovative products Zuckerberg might introduce next.