Essilorluxottica to boost production capacity for smart glasses
MILAN, Feb 13 (Reuters) - Eyewear maker EssilorLuxottica (ESLX.PA), opens new tab plans to boost its production capacity for smart glasses and hopes to expand its collaboration with Meta (META.O), opens new tab to other brands, Chief Executive Francesco Milleri said late on Wednesday.
EssilorLuxottica and Meta have been collaborating since 2019, creating two generations of Ray-Ban branded smart glasses, and last year agreed a new long-term deal that will take both companies "into the next decade".
Smart glasses have a computer built into them and microphones that allow the wearer to use voice commands to connect to smartphones and other devices.
EssilorLuxottica's CEO said that the group has sold more than 2 million units of Ray-Ban Meta since their launch in September 2023.
"The rate of activation and the time of utilization have been constantly increasing since the launch, showing that this product is becoming part of our daily life," Milleri said in a post-results conference call with analysts.
The CEO said the group is thinking about new releases with new features and new brands.
"Consistently with our open model, we look at this product like a shared platform ready to embark on third-party brands and new functions, also in the form of subscription services", he added.
Milleri said the company was expanding its production capacity for Ray-Ban Meta, set to reach 10 million annual units by the end of next year. This could also be used for other smart glasses and Nuance Audio glasses, which invisibly integrate an open-ear hearing solution.
Deputy CEO Paul du Sallant said the additional production would be in China and other plants in Southeast Asia.
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