Meta (META.US) deepens cooperation with eyewear giant EssilorLuxottica, joining forces with Oakley and Prada to launch smart glasses.

According to reports, Meta (META.US) and glasses giant EssilorLuxottica plan to launch a new smart glasses product incorporating artificial intelligence technology, covering the Oakley and Prada brands. The addition of Prada and Oakley highlights the groundbreaking success Meta achieved in 2023 in collaboration with EssilorLuxottica to launch the second generation of Ray-Ban smart glasses. The Oakley series will continue to be developed in collaboration with EssilorLuxottica, while Prada's inclusion marks Meta's first foray into wearable hardware with more fashion brands. Meta teased the launch of the Oakley series on social media on Monday, creating an account called "Oakley | Meta" on Instagram, with the bio reading, "The next evolution arrives on June 20." The new glasses developed in collaboration with EssilorLuxottica will be targeted towards athletes. Meta aims to target active consumers, as many Ray-Ban smart glasses users have started using the device to record videos of themselves playing tennis, skiing, and other activities. According to an insider, the Oakley version of the smart glasses may be priced around $360, as it offers greater durability compared to the Ray-Ban version. The first generation Oakley Meta smart glasses will feature technology similar to the Ray-Ban Meta glasses launched in 2023. Meanwhile, the collaboration between Meta and Prada comes after the fashion brand renewed a 10-year eyewear licensing agreement with EssilorLuxottica in December last year. Both parties stated that the agreement covers the development, production, and global distribution of glasses for the Prada, Prada Linea Rossa, and Miu Miu brands. In addition to bringing high-end partnerships to Meta, former Meta employees suggest that Prada's glasses may be particularly suitable for Meta's technology, as many of the brand's models feature thicker temple designs, which can accommodate components needed for smart glasses, such as microphones and chips. It is currently unclear when the Prada collaboration and its product line will be officially announced. Meta and EssilorLuxottica first reached a collaboration agreement in 2019 to jointly develop Ray-Ban smart glasses. The first generation of products was released in 2021, but it was not until the launch of the second generation Ray-Ban Meta glasses in 2023 that they achieved market success. This version comes with the Meta AI voice assistant and a range of functions - when connected to a smartphone, users can recognize city landmarks, view ingredient recommended recipes, and record and send voice messages via WhatsApp and Messenger. EssilorLuxottica CEO Francesco Milleri stated in February this year that since 2023, the two companies have sold 2 million pairs of Ray-Ban Meta smart glasses. He also mentioned that the goal is to increase the annual output to 10 million pairs by the end of 2026. Meta and EssilorLuxottica announced an extension of their collaboration agreement in October last year, planning to launch more versions of Ray-Ban glasses. According to previous reports, this deal is valued at $5 billion. As per the agreement, Meta will have exclusive rights to EssilorLuxottica's brands for smart glasses technology for several years. In addition, the two companies plan to release a more substantial third generation of smart glasses before the upcoming holiday season, with a small display embedded in one lens. It is worth mentioning that the competition in the smart glasses market is intensifying. Last month, Alphabet (GOOGL.US) announced a $150 million collaboration agreement with Warby Parker to jointly launch glasses featuring the Google Gemini AI assistant. The product is expected to be released after 2025. Snap (SNAP.US) announced in June the launch of the sixth generation smart glasses under a new brand, "Specs." Snap stated that the glasses are expected to be released in 2026, equipped with augmented reality technology, and will be smaller and lighter than previous products.