The partnership between Meta and Ray-Ban parent company, EssilorLuxottica, seem to be mutually beneficial. While Meta gets into the smart glasses space and virtually owns it now, EssilorLuxottica gets a huge boost in sales.
The company just reported its quarterly earnings and posted an 11.7% year-over-year growth in sales, and of that growth about four percentage points came from wearables. A big part of their wearable portfolio are the Meta glasses.
This stems from a partnership that Meta and EssilorLuxottica signed back in 2019, and recently extended. Locking up the maker of many popular eyewear brands for Meta’s own smartglasses into the 2030s.
Meta recently debuted new models of its smart glasses, with the Oakley Meta HSTN (also a brand that EssilorLuxottica owns), and Meta last month debuted its second-generation glasses as well as the Ray-Ban Display glasses that cost $799.
Why are Meta’s Ray-Bans doing so well?
Smart glasses aren’t anything new, so why are the Meta Ray-Bans doing so well for both companies? Well, Meta did something very smart with its smart glasses. They took some iconic designs and brands like Ray-Ban and later Oakley, and adapted their most popular designs to be smart glasses. Giving users a pair of glasses they’d actually want to buy, and making them smart.
The other thing here is the price. The Meta Ray-Bans start at around $379, depending on the style. That’s far cheaper than most other smart glasses. And finally, Meta didn’t go all out with the functionality; instead, they kept it plain and simple. With a camera on the frame, speakers, and a touchpad. So you can take photos and video, listen to music, and even talk with Meta AI.
It’s a plan that has worked very well for Meta, and that’s despite all of the privacy concerns that people have with giving that kind of access to Meta and Mark Zuckerberg.
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