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Essilorluxottica (OTC:ESLOY) Stock, Option Chain

ESSILOR INTL ADR

EssilorLuxottica is a combination of the leading manufacturer of premium frames and sunglasses and the leading manufacturer of optical lenses. Both companies are significantly larger than the next biggest player in their respective fields and command over 15% of the fragmented global eyewear market. The company has a broad geographical presence, with around 36% of sales in Europe, 47% in North America, and the rest in Asia and Latin America.

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Meta plans to add displays to its Ray-Ban smart glasses by 2025. The company aims to replace smartphones with lightweight headsets.

Meta Plans Display-Equipped Ray-Ban Glasses By 2025: FT

7 Netflix Stand-Up Specials To Watch Out If You Found Joe Rogan's Debut Comedy Gig A Total Drag

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&#39;That&#39;s How You Make Monsters,&#39; Says Joe Rogan About The &#39;Fact&#39; That 80% Of The World&#39;s Wealth Is Inherited

ESSILOR LXTTCA UNSP/ADR by EssilorLuxottica

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Meta Platforms, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), the parent company of Facebook, Instagram, and Threads, aims to advance wearable technology by integrating displays into its Ray-Ban smart glasses by 2025, the Financial Times reports.
The $300 sunglasses, developed with eyewear giant EssilorLuxottica (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ESLOF#OTC">ESLOF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ESLOY#OTC">ESLOY</a>), could feature small screens to display notifications and responses from Meta&#8217;s virtual assistant, the Financial Times <a target="_blank" href="https://www.ft.com/content/77bd9117-0a2d-4bd7-9248-4dd288f695a4" rel="noreferrer noopener">cites</a> familiar sources.
This development aims to position Meta as a frontrunner in augmented reality (AR) and wearable computing, which has the potential to replace smartphones as key computing devices.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/10/41377833/meta-cuts-jobs-in-whatsapp-instagram-and-reality-labs-in-latest-reorganization" rel="noreferrer noopener">Meta Cuts Jobs in WhatsApp, Instagram, and Reality Labs In Latest Reorganization</a>
According to the report, the next iteration of Ray-Ban Meta glasses, expected in late 2025, will introduce display technology, marking a step toward CEO Mark Zuckerberg&#8217;s vision of lightweight AR headsets.
The move aligns with Meta&#8217;s broader strategy to integrate advanced technologies into everyday wearables, <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40699921/snap-ceo-evan-spiegel-announces-focus-on-ad-business-and-ar-amid-still-competition-from-tiktok-a" rel="noreferrer noopener">competing with companies</a> like Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>).
Meta is also fast-tracking the development of its prototype AR glasses, Orion, after receiving positive feedback from early testers. The glasses feature advanced silicon carbide lenses for brighter and larger imagery.
Last week, Meta launched <a target="_blank" href="https://www.benzinga.com/24/12/42524192/metas-ray-ban-smart-glasses-can-now-be-your-chef-linguist-and-dj-whats-next-therapist" rel="noreferrer noopener">three new features</a> for its Ray-Ban smart glasses, including live AI, live translations, and&nbsp;Shazam.
Meta&#8217;s smart glasses&nbsp;have emerged as a blockbuster product in 60% of Ray-Ban stores in <a target="_blank" href="https://www.benzinga.com/news/24/10/41458752/metas-smart-glasses-dominate-ray-ban-stores-ai-features-still-missing" rel="noreferrer noopener">Europe, the Middle East, and Africa</a>. Despite lacking AI features in Europe, the glasses outperformed conventional Ray-Ban models.
In mid-December, Meta CTO Andrew Bosworth <a target="_blank" href="https://about.fb.com/news/2024/12/accelerating-the-future-ai-mixed-reality-and-the-metaverse/" rel="noreferrer noopener">flagged 2025 as</a> the most significant year in the history of the Reality Labs unit behind the company&#8217;s glasses and headsets.
According to reports, the current model features sensitive in-ear speakers, cameras, and microphones.
Wall Street firms, including JMP Securities, Wedbush, Oppenheimer, and Guggenheim, hailed Meta&#8217;s <a target="_blank" href="https://www.benzinga.com/news/24/09/41054106/meta-analysts-highlight-ai-vr-advances-see-growth-pushing-it-toward-apple-like-valuation" rel="noreferrer noopener">launch of a VR headset</a> and AI updates after the Connect event in September. They expect Meta&#8217;s AI and VR innovations to be pivotal in helping it reach valuations like Apple&#8217;s.
Meta stock surged 71% year-to-date. Investors can gain exposure to the stock through Vanguard Large-Cap ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VV#NYSE">VV</a>) and Vanguard Communication Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOX#NYSE">VOX</a>).
Price Action: META stock is up 2.28% at $598.53 at last check Monday.
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On a recent <a href="https://www.youtube.com/watch?v=hCq5lKpkUaI">episode</a> of the Joe Rogan Experience, Rogan and his guest Shane Smith, co-founder of <a href="https://www.benzinga.com/m-a/24/01/36788880/internet-media-buzzfeed-vice-face-further-downsizing-amid-financial-woes">VICE Media</a>, dove into one of Rogan&#8217;s favorite topics: the absurd inequalities of the modern world. The two discussed what Rogan described as a depressing reality—around 80% of the world's wealth is inherited.&nbsp;
Although this statistic is flawed, Rogan expressed his thoughts openly. &#8220;That&#8217;s how you make monsters,&#8221; he said. His point? When wealth is <a href="https://www.benzinga.com/personal-finance/24/10/41297994/the-great-wealth-transfer-is-here-but-millennials-are-also-stuck-with-the-great-stuff-transfer">handed down generation after generation</a>, it creates a cycle that locks people into their positions—some are born with it all while others get nothing. And the people with inherited wealth? They <a href="https://www.benzinga.com/personal-finance/24/09/40946763/kids-facing-sudden-wealth-syndrome-as-harris-rise-has-parents-worried-racing-to-transfer-billion">aren't necessarily equipped</a> to handle it responsibly.
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Smith added that most people worldwide never get a real chance at wealth or, as he puts it, they &#8220;don&#8217;t have a kick at the can.&#8221; If you&#8217;re born into the wrong family, in the wrong place, at the wrong time, you stay stuck.&nbsp;
Unlike the rags-to-riches success stories often glamorized in popular culture, the real story behind the world&#8217;s billionaires is often one of privilege passed down from generation to generation.
See Also: This Adobe-backed AI marketing startup went from a $5 to $85 million valuation working with brands like L'Oréal, Hasbro, and Sweetgreen in just three years –<a href="https://www.benzinga.com/money/rad-ai"> here's how there's an opportunity to invest at $1,000 for only $0.50/share today.</a>
Though estimates vary, research shows that much global wealth is handed down rather than earned. For instance, according to research, around 10.2% of billionaires received their wealth through inheritance while 29.6% of billionaires credit both inheritance and self-sufficiency for their wealth.&nbsp;
Furthermore, according to new data from The Guardian, all billionaires under 30 have inherited their wealth, illustrating the growing significance of generational transfer in wealth building. These include people like the Del Vecchio siblings, who inherited stakes in their family's luxury eyewear company Luxottica (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ESLOY#OTC">ESLOY</a>) or Livia Voigt, who became a billionaire at 19 thanks to her share in her grandfather's company, WEG Industries.
Trending: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — <a href="https://www.benzinga.com/money/boxabl" target="_blank" rel="noreferrer noopener">you can become an investor for $0.80 per share today.</a>
This concentration of wealth isn't just about money. There&#8217;s access—as people who inherit wealth also get connections, opportunities and social status—things that make it easier to stay on top and harder for others to catch up. Rogan and Smith explained that when wealth is concentrated like this, it creates a society where the rich keep getting richer while everyone else struggles to keep up.
Rogan also spoke about how the United States is still the &#8216;promised land&#8217; <a href="https://www.benzinga.com/startups/24/10/41196233/kevin-oleary-defends-the-american-dream-on-fox-business-im-the-guy-that-invests-in-businesses-5-to-5">for those seeking opportunities</a>. He said, &#8220;This really is the promised land. It really is, I mean, clearly not for everybody, but also there&#8217;s a possibility the opportunity awaits itself right here. It really is the greatest country the world has ever known."
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'That's How You Make Monsters,' Says Joe Rogan About The 'Fact' That 80% Of The World's Wealth Is Inherited

On a recent <a href="https://www.youtube.com/watch?v=hCq5lKpkUaI">episode</a> of the Joe Rogan Experience, Rogan and his guest Shane Smith, co-founder of <a href="https://www.benzinga.com/m-a/24/01/36788880/internet-media-buzzfeed-vice-face-further-downsizing-amid-financial-woes">VICE Media</a>, dove into one of Rogan&#8217;s favorite topics: the absurd inequalities of the modern world. The two discussed what Rogan described as a depressing reality—around 80% of the world's wealth is inherited.&nbsp;
Although this statistic is flawed, Rogan expressed his thoughts openly. &#8220;That&#8217;s how you make monsters,&#8221; he said. His point? When wealth is <a href="https://www.benzinga.com/personal-finance/24/10/41297994/the-great-wealth-transfer-is-here-but-millennials-are-also-stuck-with-the-great-stuff-transfer">handed down generation after generation</a>, it creates a cycle that locks people into their positions—some are born with it all while others get nothing. And the people with inherited wealth? They <a href="https://www.benzinga.com/personal-finance/24/09/40946763/kids-facing-sudden-wealth-syndrome-as-harris-rise-has-parents-worried-racing-to-transfer-billion">aren't necessarily equipped</a> to handle it responsibly.
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Smith added that most people worldwide never get a real chance at wealth or, as he puts it, they &#8220;don&#8217;t have a kick at the can.&#8221; If you&#8217;re born into the wrong family, in the wrong place, at the wrong time, you stay stuck.&nbsp;
Unlike the rags-to-riches success stories often glamorized in popular culture, the real story behind the world&#8217;s billionaires is often one of privilege passed down from generation to generation.
See Also: This Adobe-backed AI marketing startup went from a $5 to $85 million valuation working with brands like L'Oréal, Hasbro, and Sweetgreen in just three years –<a href="https://www.benzinga.com/money/rad-ai"> here's how there's an opportunity to invest at $1,000 for only $0.50/share today.</a>
Though estimates vary, research shows that much global wealth is handed down rather than earned. For instance, according to research, around 10.2% of billionaires received their wealth through inheritance while 29.6% of billionaires credit both inheritance and self-sufficiency for their wealth.&nbsp;
Furthermore, according to new data from The Guardian, all billionaires under 30 have inherited their wealth, illustrating the growing significance of generational transfer in wealth building. These include people like the Del Vecchio siblings, who inherited stakes in their family's luxury eyewear company Luxottica (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ESLOY#OTC">ESLOY</a>) or Livia Voigt, who became a billionaire at 19 thanks to her share in her grandfather's company, WEG Industries.
Trending: The global games market is projected to generate $272B by the end of the year —<a href="https://www.benzinga.com/money/gameflip"> for $0.55/share, this VC-backed startup with a 7M+ userbase gives investors easy access to this asset market.</a>
This concentration of wealth isn't just about money. There&#8217;s access—as people who inherit wealth also get connections, opportunities and social status—things that make it easier to stay on top and harder for others to catch up. Rogan and Smith explained that when wealth is concentrated like this, it creates a society where the rich keep getting richer while everyone else struggles to keep up.
Rogan also spoke about how the United States is still the &#8216;promised land&#8217; <a href="https://www.benzinga.com/startups/24/10/41196233/kevin-oleary-defends-the-american-dream-on-fox-business-im-the-guy-that-invests-in-businesses-5-to-5">for those seeking opportunities</a>. He said, &#8220;This really is the promised land. It really is, I mean, clearly not for everybody, but also there&#8217;s a possibility the opportunity awaits itself right here. It really is the greatest country the world has ever known."
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Mark Zuckerberg, the CEO of Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), acknowledged that the <a href="https://www.benzinga.com/topic/social-media">current social media experience</a> on smartphones is &#8220;anti-social.&#8221; This revelation is part of the reason why he is focusing on the development of Ray-Ban smart glasses.
What Happened: Zuckerberg, in a recent interview with South Park Commons, a San Francisco-based tech community, highlighted the limitations of the social media experience on small screens. This, he says, is a driving factor behind the development of the Ray-Ban smart glasses.
&#8220;When you&#8217;re building social apps, it&#8217;s kind of this weird thing that you primarily are delivering through this tiny little screen that people carry around,&#8221; said Zuckerberg.
Meta, the parent company of major social media platforms like Facebook, Instagram, WhatsApp, and Threads, is looking to revolutionize the social media experience. According <a href="https://www.statista.com/statistics/268136/top-15-countries-based-on-number-of-facebook-users/">to</a> Statista, Meta has 3.5 billion &#8211; or a little less than half the world&#8217;s population &#8211; using one of its services at least once a month.
However, Zuckerberg believes that the current format, primarily accessed through small, brightly lit screens, is &#8220;anti-social.&#8221;
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox
&#8220;It&#8217;s part of the reason why I care so much about glasses. It&#8217;s just such a more natural thing,&#8221; said Zuckerberg.
The Ray-Ban smart glasses, announced in 2020, offer features such as photo-taking, Instagram live streaming, and the use of Meta&#8217;s AI assistant for queries. Despite not having augmented reality like the Meta Quest virtual reality headset, Zuckerberg is confident that the wearable tech will gain popularity.
See Also: <a href="https://www.benzinga.com/news/24/08/40209185/microsoft-blames-deltas-outdated-it-for-delayed-global-cyber-outage-recovery-after-airline-decides-t?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Microsoft Blames Delta&#8217;s Outdated IT For Delayed Global Cyber Outage Recovery After Airline Decides To Seek Damages Against Software Giant And CrowdStrike</a>
Why It Matters: Zuckerberg&#8217;s acknowledgment of the limitations of the current social media experience aligns with the ongoing evolution of wearable tech. Meta&#8217;s Ray-Ban smart glasses have been <a href="https://www.benzinga.com/24/07/39867045/metas-34-year-to-date-surge-and-a-5-stake-in-essilorluxottica-transform-ray-ban-smart-glasses-and-re">gaining traction</a> in the market, with the company acquiring a 5% stake in EssilorLuxottica (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ESLOY#OTC">ESLOY</a>)&nbsp; to bolster the development of the device.
Rival Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) is <a href="https://www.benzinga.com/news/24/06/39449125/apple-glass-potential-competitor-to-ray-ban-meta-smart-glasses-may-take-longer-to-develop-report">reportedly developing</a> a potential competitor to Meta&#8217;s smart glasses, named Apple Glass. However, it may not hit the market for several years more.
Moreover, EssilorLuxottica, the maker of Ray-Ban, has <a href="https://www.benzinga.com/news/large-cap/24/07/39990590/tech-giants-potentially-seek-partnership-with-ray-ban-maker-after-smart-glasses-collaboration">attracted interest from other major tech companies</a>, including Alphabet Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) Google, for potential partnerships.
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<iframe loading="lazy" title="Mark Zuckerberg on Llama, AI, &amp; Minus One" width="500" height="281" src="https://www.youtube.com/embed/02fBBoZa9l4?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
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Photo courtesy: Ray-Ban
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

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Meta CEO Mark Zuckerberg Owns Two Of The Biggest Social Media Platforms In The World. He Now Thinks This Experience On Phones Is 'Anti-Social,' And Why He's Focused On Ray-Ban Smart Glasses

EssilorLuxottica (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ESLOY#OTC">ESLOY</a>) stock rose after the eyewear giant revealed interest from Alphabet Inc&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google and other major technology companies in exploring partnerships following its collaboration with Meta Platforms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) to <a target="_blank" href="https://www.benzinga.com/markets/equities/24/07/39852461/metas-potential-5-acquisition-in-ray-ban-maker-applauded-by-jim-cramer-wearable-tech-revolution-" rel="noreferrer noopener">develop Ray-Ban smart glasses</a>.
EssilorLuxottica CEO Francesco Milleri highlighted the company&#8217;s awareness of Meta&#8217;s intention to take a stake in the company. However, any share purchases by Meta would need to be conducted on the open market.
This statement followed a report by The Wall Street Journal indicating that Meta was discussing acquiring about 5% of EssilorLuxottica.
Related: <a target="_blank" href="https://www.benzinga.com/news/24/03/38001115/meta-ray-ban-smart-glasses-ready-to-get-ai-upgrade-expect-these-new-features-soon" rel="noreferrer noopener">Meta Ray-Ban Smart Glasses Ready To Get AI Upgrade: Expect These New Features Soon</a>.
Citing the CEO, the Wall Street Journal <a target="_blank" href="https://www.wsj.com/tech/essilorluxottica-shares-climb-after-eyewear-giant-draws-big-tech-interest-1c611c8b?mod=tech_lead_story" rel="noreferrer noopener">report</a> emphasized that while the company welcomes any investor, it has no plans for a capital increase specifically for Meta.
The CEO assured that the existing partnership with Meta is robust and does not require a stake acquisition to strengthen it.
In addition to Meta, EssilorLuxottica has attracted interest from Google and other significant tech companies for potential collaborations.
This interest was reinforced by a report from The Verge, which cited unnamed sources suggesting that Google had approached EssilorLuxottica to integrate its Gemini artificial intelligence assistant into future smart glasses.
In June, Meta Platforms said it is &#8220;almost ready&#8221; to introduce a&nbsp;new augmented reality prototype.&nbsp;Mark Zuckerberg hinted that the prototype <a target="_blank" href="https://www.benzinga.com/news/24/06/39562120/mark-zuckerberg-says-meta-set-to-unveil-full-holographic-glasses-every-person-who-ive-shown-it-to-so" rel="noreferrer noopener">had left early testers</a> &#8220;giddy.&#8221;
Price Action: ESLOY stock is up 4.10% to $112.06 at the last check on Friday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Read Next:
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<li><a href="https://www.benzinga.com/news/24/06/39562427/metas-ray-ban-smart-glasses-face-new-rival-powered-by-openais-chatgpt" target="_blank" rel="noreferrer noopener">Meta&#8217;s Ray-Ban Smart Glasses Face New Rival Powered By OpenAI&#8217;s ChatGPT</a>.</li>
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Image Credits &#8211; Shutterstock

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Tech Giants Potentially Seek Partnership With Ray Ban Maker After Smart Glasses Collaboration

Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) is <a href="https://www.benzinga.com/news/24/07/39843330/whats-going-on-with-meta-platforms-shares-on-thursday">set to acquire a 5% stake</a> in Essilorluxottica (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ESLOY#OTC">ESLOY</a>), a move that has caught the attention of financial expert Jim Cramer. He believes this deal could be a game-changer for Meta&#8217;s future in the wearable tech space.
What Happened: Cramer, host of CNBC&#8217;s &#8220;Mad Money,&#8221; expressed his views on &#8220;Squawk Street&#8221; on Thursday about the future of Meta Platforms in the wearable tech industry. The company&#8217;s stock saw a rise following the news of the potential investment in EssilorLuxottica.
The deal with EssilorLuxottica, the manufacturer of Ray-Ban smart glasses, is seen as a significant development by Cramer. He highlighted the intense production at the company&#8217;s Italian factory and the potential for &#8220;instant AI&#8221; use cases with the smart glasses.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">All eyes are on <a href="https://twitter.com/search?q=%24META&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$META</a>, with reports that they&#39;re taking a 5% stake in Ray-Ban parent EssilorLuxottica. How are things looking from here? <a href="https://twitter.com/jimcramer?ref_src=twsrc%5Etfw">@jimcramer</a> delivers his vision for the company&#39;s future in wearables in today&#39;s <a href="https://twitter.com/hashtag/MadDash?src=hash&amp;ref_src=twsrc%5Etfw">#MadDash</a>. <a href="https://t.co/kDlIWOv7Lp">pic.twitter.com/kDlIWOv7Lp</a>
&mdash; Squawk on the Street (@SquawkStreet) <a href="https://twitter.com/SquawkStreet/status/1813949029321171161?ref_src=twsrc%5Etfw">July 18, 2024</a></blockquote>
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</figure>
The investment in EssilorLuxottica, valued at approximately 4.5 billion euros ($5 billion), is expected to further strengthen the partnership between the two companies. The Ray-Ban Meta smart glasses, launched last year, have exceeded sales expectations, leading Meta to consider developing more devices in collaboration with EssilorLuxottica.
See Also: <a href="https://www.benzinga.com/markets/equities/24/07/39837493/trump-says-taiwan-should-pay-for-its-defense-to-us-but-if-china-invades-taipei-it-will-be-catast?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Says Taiwan Should Pay For Its Defense To US, But If China Invades Taipei, It Will Be &#8216;Catastrophic For American Economy, Says Analyst: &#8216;It&#8217;s Dark And It&#8217;s High Stakes&#8217;</a>
The third generation of Ray-Ban Meta glasses, anticipated to feature a small screen display, is slated for release <a href="https://www.benzinga.com/news/24/03/38001115/meta-ray-ban-smart-glasses-ready-to-get-ai-upgrade-expect-these-new-features-soon">during the 2025 holiday season</a>. The popularity of the Ray-Ban brand is crucial for the <a href="https://www.benzinga.com/news/24/07/39843330/whats-going-on-with-meta-platforms-shares-on-thursday">success of wearable tech</a>, and the partnership with EssilorLuxottica, which also owns LensCrafters, will facilitate the introduction of the Ray-Ban Meta to users requiring prescription lenses.
Why It Matters: Meta&#8217;s strategic investment in EssilorLuxottica comes at a crucial time. The wearable tech market is <a href="https://www.benzinga.com/news/24/06/39562427/metas-ray-ban-smart-glasses-face-new-rival-powered-by-openais-chatgpt">becoming increasingly competitive</a>. Recently, Solos announced its new AirGo Vision smart glasses, powered by OpenAI&#8216;s ChatGPT technology, which could pose a significant challenge to Meta&#8217;s offerings.
Additionally, Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) is reportedly developing its <a href="https://www.benzinga.com/news/24/06/39449125/apple-glass-potential-competitor-to-ray-ban-meta-smart-glasses-may-take-longer-to-develop-report">own AR smart glasses</a>, although these may not hit the market until 2027. This gives Meta a potential head start in establishing its dominance in the smart glasses sector.
Moreover, Meta has been enhancing the functionality of its Ray-Ban Meta smart glasses. As of May, users can now <a href="https://www.benzinga.com/content/38967020/ray-ban-meta-smart-glasses-can-now-share-directly-to-instagram-stories">share directly to Instagram Stories</a>, adding another layer of integration with Meta&#8217;s social media platforms.
Price Action: Meta Platforms Inc. closed at $475.85 on Thursday, marking an increase of 3.00%. In after-hours trading, the stock rose further 0.75%. Year to date, Meta&#8217;s stock has appreciated by 37.41%, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/equities/24/07/39831371/chewy-founder-gamestop-ceo-ryan-cohen-posts-trump-665-times-on-elon-musks-x-cryptic-message-has-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Chewy Founder, GameStop CEO Ryan Cohen Posts &#8216;TRUMP&#8217; 665 Times On Elon Musk&#8217;s X: Cryptic Message Has Internet Guessing</a></li>
</ul>
Photo courtesy: Ray-Ban
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Global

Meta's Potential 5% Acquisition In Ray-Ban Maker Applauded By Jim Cramer: Wearable Tech Revolution Is A  'Big Deal'

Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) is trading higher Thursday after the Wall Street Journal <a href="https://www.wsj.com/business/deals/meta-in-talks-to-buy-stake-in-eyewear-giant-essilorluxottica-3afc69d2?mod=hp_lead_pos5">reported</a> that it plans to acquire a 5% stake in <a href="https://www.benzinga.com/topic/smart-glasses">eyewear company EssilorLuxottica</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ESLOY#OTC">ESLOY</a>).
What Happened: EssilorLuxottica, Meta&#8217;s partner for the <a href="https://www.benzinga.com/general/entertainment/23/09/34964097/watch-mark-zuckerberg-unveils-metas-ai-smart-glasses-that-can-decode-anything-youre-looking">Ray-Ban smart glasses</a>, with an investment value of about 4.5 billion euros ($5 billion), based on EssilorLuxottica's market value.
The Ray-Ban Meta smart glasses, introduced last year, can take calls, play some music, help do live streams, and even search for things that you look at.
Sales of the latest Ray-Ban Meta smart glasses have surpassed expectations. Meta aims to leverage this momentum to develop more devices in collaboration with EssilorLuxottica.
In June, CEO Mark Zuckerberg teased the company's upcoming "full holographic" glasses, an <a href="https://www.benzinga.com/news/24/06/39562120/mark-zuckerberg-says-meta-set-to-unveil-full-holographic-glasses-every-person-who-ive-shown-it-to-so">internal project dubbed&nbsp;Orion</a>.
Also Read: <a href="https://www.benzinga.com/news/24/07/39762765/apple-vision-pro-sales-fall-short-iphone-16-camera-upgrades-and-more-this-week-in-appleverse">Apple Vision Pro Sales Fall Short, iPhone 16 Camera Upgrades And More: This Week In Appleverse</a>
The <a href="https://www.benzinga.com/news/24/03/38001115/meta-ray-ban-smart-glasses-ready-to-get-ai-upgrade-expect-these-new-features-soon">third generation of Ray-Ban Meta glasses</a>, expected to feature a small screen display, is anticipated for the 2025 holiday season.
The Ray-Ban brand's popularity is important for the success of wearable tech. Additionally, EssilorLuxottica also owns LensCrafters, so having a stake helps in introducing the Ray-Ban Meta to users requiring prescription lenses.
The partnership between Meta and EssilorLuxottica began with the first-generation Ray-Ban Stories in 2021. Although the initial device struggled, the second-generation Ray-Ban Meta glasses, released in September, have performed significantly better, featuring improved cameras and AI technology.
Zuckerberg noted in April that the market for such devices is developing faster than expected.
EssilorLuxottica recently announced a<a href="https://www.wsj.com/business/deals/essilorluxottica-to-buy-supreme-brand-from-vf-for-1-5-billion-2092167b"> $1.5 billion deal for the Supreme brand</a> and acquired an 80% stake in Germany's Heidelberg Engineering, further expanding its portfolio.
Meta stock has gained more than 50% in the last 12 months. Investors can gain exposure to the stock via&nbsp;Vanguard Communication Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOX#NYSE">VOX</a>) and Communication Services Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>)
Price Action: META shares are trading higher by 1.31% at $468.02 at last check Thursday.
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</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

What's Going On With Meta Platforms Shares On Thursday?

Eastman Kodak Co&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kodk#NYSE">KODK</a>) penned a perpetual, global brand licensing deal with&nbsp;Essilorluxottica&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/eslof#OTC">ESLOF</a>) (OTC: <a class="ticker" href="https://www.benzinga.com/stock/esloy#OTC">ESLOY</a>). The financial terms were not disclosed.
As per the deal, effective January 1, 2024, EssilorLuxottica gets an exclusive right to use the Kodak registered trademarks for its products and services.
Notably, EssilorLuxottica will boost the development of the Kodak brand in its vast range of product categories.
The new deal is an extension of an existing contract between both companies.
&quot;We are excited about the opportunity to expand our brand licensing arrangement with a vision care industry leader like EssilorLuxottica. We know the Kodak brand is in good hands along with the other esteemed brands in the EssilorLuxottica portfolio. This agreement is a great fit for Kodak. We share EssilorLuxottica&#39;s commitment to meeting evolving customer needs through innovation, and we look forward to a long and successful relationship,&quot; said Jim Continenza, Executive Chairman and CEO.
Price Action: KODK shares are trading higher by 2.22% at $5.74 on the last check Thursday.

Small Cap

KODK

Kodak Signs Global Licensing Deal With Essilorluxottica

<ul>
<li>Bloomberg reported that the maker of Ray-Ban glasses sued&nbsp;J.P. Morgan Chase Bank N.A.,&nbsp;<a class="editor-rtfLink" href="https://www.bloomberg.com/news/articles/2022-04-26/jpmorgan-sued-after-millions-stolen-from-ray-ban-maker-s-account?sref=TBDibEcD" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">claiming the bank ignored red flags as cybercriminals drained $272 million</a>&nbsp;from its New York bank account.</li>
<li>Essilor Manufacturing (Thailand) Co. said J.P. Morgan was aware, beginning in September 2019, of a &ldquo;highly suspicious pattern of fraudulent transactions&rdquo; but didn&rsquo;t notify the company.</li>
<li>Red flags included a jump in monthly dollar volume from $15 million to more than $100 million and money being moved to shell companies at regional banks, often in high-risk jurisdictions, EMTC said in the complaint filed Monday in federal court in Manhattan.</li>
<li>&ldquo;The fraudulent transfers were all made in round dollar amounts (i.e., no cents), which was a dramatic departure from prior periods where round dollar transfers were relatively infrequent,&rdquo; EMTC said.</li>
<li>EMTC operates a manufacturing plant in Thailand for France-based&nbsp;EssilorLuxottica SA. J.P. Morgan Chase Bank is a unit of JPMorgan Chase &amp; Co (NYSE:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/jpm#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">JPM</a>)</li>
<li>EMTC said it recovered all but $100 million of the stolen funds &ldquo;through a costly and burdensome process.&rdquo; It&rsquo;s seeking compensatory damages to be determined at trial.</li>
<li>Photo by Okan Caliskan from Pixabay</li>
</ul>

Legal

Essilor Sues JPMorgan Bank On Ignored Suspicious Transaction Red Flags: Bloomberg

One of the bigger news stories in the investing world Thursday was Facebook Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fb#NASDAQ">FB</a>) <a href="https://www.benzinga.com/news/21/10/23719739/facebook-rebrands-as-meta-what-investors-should-know-about-new-name-ticker-and-vision">changing its name and stock symbol</a>. The company has changed its name to Meta and will change its ticker to MVRS on Dec. 1.
The announcement from Facebook sent many augmented reality and virtual reality related stocks higher on Thursday.
Here is a look at four companies that have ties to Facebook or announced metaverse plans since the company&rsquo;s announcement.
Ray-Ban: Glasses company Ray-Ban, which is a unit of EssilorLuxottica (OTC: <a class="ticker" href="https://www.benzinga.com/stock/esloy#OTC">ESLOY</a>) has a <a href="https://www.benzinga.com/news/21/07/22249396/facebook-close-to-launching-ray-ban-smart-glasses-what-investors-should-know">partnership </a>with Facebook that could get a boost with the company&rsquo;s all-in push on the metaverse.
A watch developed by Facebook features a front-facing camera and rounded screen, according to leaked images shown on Bloomberg. The image was found inside the company&rsquo;s app for its smart glasses launching in partnership with Ray-Ban.
Ray-Ban could end up having a bigger partnership with Facebook as originally expected by investors. The Facebook watch could launch next year and compete against Apple Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aapl#NASDAQ">AAPL</a>) and others. Apple has three new watches coming out in 2022. Apple and Samsung watches do not have cameras, which could give Facebook an edge.
Ray-Ban stands to benefit as Facebook bets big on augmented reality, virtual reality and smart glasses given the existing partnership. Facebook CEO Mark Zuckerberg said the Ray-Ban glasses were part of the company&rsquo;s &ldquo;journey towards full augmented reality glasses in the future.&rdquo;
Related Link: <a href="https://www.benzinga.com/news/21/10/23725752/10-augmented-and-virtual-reality-stocks-to-watch-on-the-heels-of-facebooks-meta-rebrand">10 Augmented And Virtual Reality Stocks To Watch On The Heels Of Facebook&#39;s Meta Rebrand&nbsp;</a>
WiMi Hologram: One of the big movers Friday being propelled&nbsp;by&nbsp;the Facebook momentum was WiMi Hologram Cloud (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wimi#NASDAQ">WIMI</a>). The company <a href="https://www.prnewswire.com/news-releases/wimi-hologram-submitted-the-trademark-application-of-wimi-metaverse-to-lay-out-the-rapidly-developing-metaverse-industry-301411826.html">filed </a>a trademark application for the &ldquo;WIMI METAVERSE,&rdquo; according to a press release.
&ldquo;This will help the company to further improve the intellectual property protection system, maintain the leading position in technology, and enhance the company&rsquo;s core competitiveness,&rdquo; the company said.
WiMi plans to utilize the trademark related to advertising sales, communication services, office supplies, education, entertainment and other sectors.
WiMi reports it owns 4,654 holographic virtual IP rights, which cover topics like virtual idol and virtual social. The company plans to provide commercial value from its existing and upcoming intellectual property.
Matterport: Shares of Matterport (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mttr#NASDAQ">MTTR</a>) were up 19% Friday as the company got mentioned as a play on the metaverse and its connection with Facebook.
The company entered a <a href="https://matterport.com/news/matterport-and-facebook-ai-research-collaborate-release-worlds-largest-dataset-3d-spaces">partnership </a>with Facebook earlier this year to create the largest-ever dataset of 3D indoor spaces in collaboration with Facebook AI Research.
&ldquo;I like to think that by digitizing the built world, Matterport is creating the Metaverse,&rdquo; a Matterport spokesperson told Benzinga Friday.
The company is optimized for Facebook&rsquo;s Oculus Quest using virtual reality mode in the Matterport platform, according to the spokesperson.
eMagin: Another name to watch in the Facebook partnership space is small cap eMagin Corp (AMEX:EMAN). Traders circulated an August article from <a href="https://www.oled-info.com/facebook-planning-use-emagins-dpd-oled-microdisplay-its-next-gen-vr-or-ar-device">OLED Info</a> that highlighted a potential partnership between Facebook and eMagin for an augmented reality or virtual reality device.
The article highlights several job posting for the two companies and a potential OLED deal. Oculus partnered with eMagin in 2017 on surface display, according to the report.
eMagin and Facebook have not disclosed an official partnership, so this is speculation at this point. Given the hunt for augmented reality and virtual reality stocks, EMAN could be one to watch given the potential Oculus connection.
Related Link:<a href="https://www.benzinga.com/news/21/10/23731429/facebook-renaming-itself-to-meta-causes-18-spike-in-unrelated-stock">&nbsp;Facebook Renaming Itself To Meta Causes 18% Spike In Unrelated Stock</a>

Penny Stocks

Trading Ideas

EMAN

MTTR

WIMI

4 Stocks That Could Already Be Winning From Facebook's Name Change To Meta

Facebook Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fb#NASDAQ">FB</a>) launched its first smart glassses on Thursday in partnership with Ray-Ban maker Essilor Luxottica (OTC: <a class="ticker" href="https://www.benzinga.com/stock/esloy#OTC">ESLOY</a>), and now Italian authorities want clarification on how the glasses will function, according to a <a href="https://www.reuters.com/technology/italy-data-authority-asks-facebook-clarifications-smart-glasses-2021-09-10/">Reuters </a>report.
What happened: The social media giant has introduced the glasses line, called &ldquo;Ray-Ban Stories,&rdquo; with&nbsp;a starting price tag of $299. The glasses are able to capture photos and videos using hands-free voice commands. Facebook says an LED light on the glasses alerts other people when a wearer is taking a photo or video.
The Italian watchdog, Garante, is calling on Ireland&#39;s data protection commissioner, where&nbsp;Facebook&rsquo;s European headquarters are located, to get additional&nbsp;clarification&nbsp;on&nbsp;the capabilities of the glasses. Italian authorities would like the Irish agency to assess if the product is compliant with privacy laws.
Why It&rsquo;s Important: The Italian regulator wants to know what kinds of steps Facebook has taken to protect people from being unknowingly filmed, especially children.
Facebook has said it would not access the media generated from the smart-glasses without the consent of customers. The company says the glasses will be an &ldquo;ads-free experience&rdquo; and any photos or videos captured by the glasses and stored in the Facebook View app would not be used.
Photo: Courtesy of Unsplash

Privacy Concerns Being Raised Over New Facebook Smart Glasses

Facebook has been <a href="https://www.benzinga.com/news/20/09/17541467/facebook-partners-with-eyewear-giant-to-make-smart-glasses">rumored </a>to be working on smart glasses since 2019. The company announced updated plans on the long-rumored growth item during its earnings call this week.
What Happened: Facebook Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fb#NASDAQ">FB</a>) CEO Mark Zuckerberg <a href="https://techcrunch.com/2021/07/29/facebooks-next-product-will-be-its-long-awaited-ray-ban-smart-glasses/">confirmed </a>on its earnings call its next product release will be smart glasses through a partnership with Ray-Ban, a unit of EssilorLuxottica (OTC: <a class="ticker" href="https://www.benzinga.com/stock/esloy#OTC">ESLOY</a>).
&ldquo;The glasses have their iconic form factor and they let you do some pretty neat things,&rdquo; Zuckerberg said.
The CEO did not offer a release date but said he is excited to get the product to consumers. The glasses could also be the first of many to come as Zuckerberg referred to the Ray-Ban glasses as part of the company&rsquo;s &ldquo;journey towards full augmented reality glasses in the future.&rdquo;
Related Link: <a href="https://www.benzinga.com/news/21/07/22206629/facebook-bets-big-on-metaverse-why-its-important-for-the-industry-fb-stock">Facebook Bets Big On Metaverse: Why It&#39;s Important For The Industry, FB Stock&nbsp;</a>
Why It&rsquo;s Important: Launching smart glasses is a continued step in Facebook&rsquo;s move to go all-in on the metaverse. The glasses will offer augmented reality efforts and could help Facebook become a leader in the space.
The glasses are drawing comparisons to Google Glass, a product from Alphabet Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/goog#NASDAQ">GOOG</a>)(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/googl#NASDAQ">GOOGL</a>). Snap Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/snap#NYSE">SNAP</a>) launched the Spectacles smart glasses to strong demand.
Facebook&rsquo;s smart glasses are expected to offer the ability to take calls, see information and broadcast livestreams. Zuckerberg said the glasses will let users &ldquo;do some pretty neat things.&rdquo;
Facebook <a href="https://www.theverge.com/2021/7/29/22599599/facebook-ray-ban-smart-glasses-next-product-launch-specs">confirmed </a>before that the glasses will not have an integrated display, which could mean a paired smartphone app is needed for the glasses. Spectacles also required a paired smartphone app.
A key question for investors could be how much revenue and profits the smart glasses will generate.
&ldquo;Our business model isn&rsquo;t going to primarily be around trying to sell devices at a large premium or anything like that because our mission is around serving as many people as possible,&rdquo; Zuckerberg said.
Facebook is also rumored to be working on a smartwatch to expand its hardware offering.
FB Price Action: Facebook shares are down&nbsp;0.35% to $357.08&nbsp;on Friday at publication.
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Facebook Close To Launching Ray-Ban Smart Glasses: What Investors Should Know

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Benzinga's Top Ratings Upgrades, Downgrades For July 26, 2021

HSBC downgrades Essilorluxottica (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ESLOY#OTC">ESLOY</a>) from Buy to Hold.

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