Latest news with #FrancescoMilleri
Indian Express
18-06-2025
- Business
- Indian Express
Meta to launch Oakley-branded smart glasses this week
Meta will launch a new pair of smart AI glasses under the Oakley brand later this week, as the company rushes to expand the reach of high-tech, lightweight eyewear to even more users. The $1.75 trillion social media giant already sells successful Ray-Ban smart glasses in partnership with the European eyewear group EssilorLuxottica, the world's largest eyewear manufacturer and retailer. The Italian company owns brands like Ray-Ban and Oakley and holds licensing rights for fashion brands such as Prada and Chanel for their eyewear. The Californian label Oakley is known for sports-specific tech products and eyewear with retro-futuristic designs. The first pair of Oakley smart glasses that Meta plans to introduce on June 20 is likely aimed at athletes, a market the brand is known for. Traditionally, Oakley eyewear feature molded frames and are designed for outdoor use. Oakley was founded by motocross enthusiast Jim Jannard in 1975 and was sold to Luxottica for $2.1 billion in 2007. Meta found a hit with the second-generation Ray-Ban smart glasses it launched in 2023. That version comes with Meta AI assistant and This lets the view from the glasses' camera feed into what the AI assistant tells you during interactions. EssilorLuxottica CEO Francesco Milleri said in February the companies have sold 2 million pairs of the Meta Ray-Ban glasses since 2023 Meta CEO Mark Zuckerberg has a long term vision to make smart glasses replacing smartphones as the main computing device. In September last year, Meta unveiled its augmented reality smart glasses prototype Orion. The glasses feature compact design, lightweight frame and built-in displays, which overlays 3D content onto the real world. The Oakley-branded smart glasses may cost $360, CNBC reported on Tuesday. Bloomberg reported in January that the Oakley glasses are set to launch later this year and that the camera will be positioned at the center of the frames, as opposed to the sides, as seen on the Ray-Ban glasses. CNBC also reports that Meta will be launching Prada-branded smart glasses aimed at high-fashion consumers; however, the launch date is still unknown.
CNBC
17-06-2025
- Business
- CNBC
Meta to release smart glasses with Oakley and Prada, extending Luxottica partnership
Meta and EssilorLuxottica plan to release versions of their AI-powered smart glasses under the Oakley and Prada brands, CNBC has learned. The addition of Prada and Oakley underscore the breakout success Meta had with its second-generation Ray-Ban glasses released in partnership with Luxottica in 2023. The Oakley expansion will be done in partnership with Luxottica, while the addition of Prada signifies Meta's first step toward bring its wearable hardware to more fashion companies. Meta on Monday teased the Oakley release on social media, launching an Instagram account for "Oakley | Meta" with a profile description that reads "The next evolution is coming on June 20." CNBC reviewed a document that says the new glasses with Luxottica will be aimed at athletes. Meta is targeting active consumers after seeing several owners of its Ray-Ban glasses use the device to record themselves playing tennis, skiing and doing other activities. The Oakley version of the glasses may cost around $360 as they are more weather resistant than their Ray-Ban counterparts, according to a person familiar with the matter who was not authorized to speak publicly about the upcoming device. The first version of the Oakley Meta glasses will feature similar technology to the Ray-Ban Meta glasses released in 2023. Luxottica, based in France and Italy, has licensing arrangements with over 150 brands and owns notable brands including Ray-Ban, Oakley, Vogue Eyewear and Persol. Meta's agreement with Prada comes after the fashion company in December renewed an eyewear-related licensing agreement with Luxottica for 10 years. That deals covers the "development, production and worldwide distribution of eyewear under the Prada, Prada Linea Rossa and Miu Miu brands," the companies said at the time. Besides giving Meta a high-end partnership, the Prada glasses may be a particularly good fit for the tech company as many of the brand's models come with thick temples, former Meta employees said. That provides more heft for housing many of the components necessary for smart glasses, including microphones and chips. It's unclear when the Prada deal and product line will be announced. Meta first partnered with EssilorLuxottica in 2019 to jointly develop the Ray-Ban glasses. The two companies released the first version in 2021, but they found success after the release of the second-generation Ray-Ban Meta glasses in 2023. That version comes equipped with the Meta AI voice assistant and includes features and, when tethered to a smartphone, lets users identify city landmarks, get recipes when looking at ingredients and record and send voice messages on WhatsApp and Messenger. EssilorLuxottica CEO Francesco Milleri said in February the companies have sold 2 million pairs of the Meta Ray-Ban glasses since 2023. Miller said he aimed to increase annual production to 10 million units by the end of 2026. Meta and Luxottica announced an extension of their partnership in October, with plans to release more versions of their Ray-Ban glasses. That deal was worth $5 billion, according to a July 2024 report in The Wall Street Journal. As part of the deal, Meta gets exclusive rights to Luxottica's brands for its smart glasses technology for a number of years, a person familiar with the matter told CNBC. The two companies plan to release a bulkier, third generation of their glasses in time for the coming holiday season. The new device is expected to include a small display in one of the lenses, CNBC has previously reported. Competition in the market is heating up. Last month, Alphabet announced a $150 million partnership with Warby Parker that will see the two companies team up to release glasses infused with Google's Gemini AI assistant. The companies plan to release the glasses sometime after 2025. Snap, meanwhile, announced in June that it plans to release its sixth generation smart glasses under a new brand called Specs. Those glasses, expected for release in 2026, will include augmented-reality technology and will be smaller and lighter than Snap's prior products, Snap said. Meta declined to comment. Luxottica and Prada could not be reached. Bloomberg News first reported about the Oakley Meta glasses in January.
Yahoo
06-06-2025
- Business
- Yahoo
Patrizio Bertelli, Francesco Milleri, More Fashion Execs Receive Cavaliere del Lavoro Honor in Italy
HIGH HONOR: A range of fashion entrepreneurs and executives have been bestowed with the 'Cavaliere del Lavoro,' or 'Knight of Labour,' honor in Italy. They include Prada Group's chairman and executive director Patrizio Bertelli; Francesco Milleri, chairman and chief executive officer of EssilorLuxottica; Alfonso Dolce, chairman and CEO of Dolce & Gabbana; Maria Giovanna Paone, chairwoman and co-CEO of Kiton's parent company Ciro Paone, as well as Salvatore Ferragamo chairman Leonardo Ferragamo. The latter was recognized for his hospitality business, as president of the Lungarno Collection luxury hotel chain. More from WWD EssilorLuxottica Expands Med-tech Strategy With Acquisition of Ophthalmology Platform Optegra Consortium Including Anne Hathaway, Gian Luca Passi de Preposulo Invests in Italy's SailGp Team Aubrey Plaza Brings Breezy Daytime Glam to Cannes with Sheer Blouse and Strappy Prada Sandals at 'Honey Don't!' Photocall Also in the fashion and design categories, the honor was bestowed upon Anna Beatrice Ferrino, CEO of the namesake textile company, and Federica Minozzi, CEO of tile-maker Iris Ceramica Group. Established in 1901 by King Vittorio Emanuele III, the title is one of the highest recognitions bestowed by the president of the Italian Republic, currently Sergio Mattarella, and recognizes 25 Italian entrepreneurs who have distinguished themselves in different sectors of the economy and contributed to social development, employment, technology and the growth of Made in Italy. In receiving the honor, the cohort follows in the footsteps of other fashion industry personalities including Pietro Beccari, chairman and CEO of Louis Vuitton; Ferruccio Ferragamo; Remo Ruffini, chairman and CEO of Moncler; Federico Marchetti; Gildo Zegna, chairman and CEO of the Ermenegildo Zegna Group; Rosita Missoni; Claudio Marenzi, president and CEO of Herno; Roberto Colombo, president of Lanificio Luigi Colombo, a producer of cashmere and high-quality fibers, and Alberto Barberis Canonico, CEO of the Italian high-end woolen mill Vitale Barberis Canonico, established in 1936 on the outskirts of Biella, among others. Best of WWD Young Brooke Shields' Style Evolution, Archive Photos: From Runway Modeling & Red Carpets to Meeting Princess Diana The Most Memorable French Open Tennis Outfits With Serena Williams, Naomi Osaka & More [PHOTOS] Beyoncé's 'Cowboy Carter Tour' Outfits, Live Updates: Schiaparelli, Burberry, Loewe and More
Yahoo
05-06-2025
- Business
- Yahoo
EssilorLuxottica signs an agreement to acquire A-Look, Seen and OWL retail stores in Malaysia
EssilorLuxottica signs an agreement to acquireA-Look, Seen and OWL retail stores in Malaysia With this transaction, the Group aims at further elevating the standards of vision care in the country Paris, France (5 June 2025) – EssilorLuxottica announces today it has signed an agreement for the acquisition of one of the largest optical companies in Malaysia operating over 90 stores under the A-Look, Seen and OWL banners. A-Look was founded in 2003 by Dato Terry Ngeow, with the opening of its inaugural store in Kuala Lumpur, Malaysia. At present, A-Look, Seen and OWL stores are located across East and West (or Peninsular) Malaysia. With the acquisition of these renowned omnichannel and multi-branded stores, EssilorLuxottica aims at complementing its long-standing position in Malaysia, where the Group is currently present with both wholesale and retail activities. This move reflects the Group's commitment to continuously elevating the industry by raising the standards of vision care delivery and accelerating the digitalization of the market to enhance in-store consumer experience. 'Leveraging the integration of A-Look, Seen and OWL stores within EssilorLuxottica's network will improve our understanding of the Malaysian market, allowing us to better contribute to growing awareness, demand and appreciation for high quality innovative vision care products, eyewear and eyecare solutions amongst Malaysian consumers. Consumers and customers are at the heart of our strategy as we focus on their needs to deliver and improve access to visual care solutions available to all,' commented Francesco Milleri, Chairman and Chief Executive Officer, and Paul du Saillant, Deputy Chief Executive Officer at EssilorLuxottica. With an ambition to expand access to consumers in the dynamic Asia Pacific region, this move complements the Group's existing and deeply rooted network in the region. EssilorLuxottica is committed to continue delivering high quality products, solutions and services to its valued customers. The Group's footprint in the country also includes lens production facilities, offering quality proximity service to eyecare professionals. The transaction is expected to close by the end of June 2025 pending customary closing conditions. Attachment DOWNLOAD THE PRESS RELEASE
Fashion Network
02-06-2025
- Business
- Fashion Network
Essilorluxottica to buy Optegra eyecare clinics
Essilorluxottica has entered an agreement to buy Optegra ophthalmic clinics from MidEuropa, as the Franco-Italian eyewear group aims to expand in the medical technology industry, the companies said on Friday. Financial details of the transaction, which is expected to close later this year, were not disclosed. The Optegra group operates a network of over 70 eye hospitals and diagnostic facilities in the UK, Czech Republic, Poland, Slovakia and the Netherlands under the Optegra, Lexum and Iris brands. It serves both publicly reimbursed and private-pay patients, providing treatments and vision correction procedures such as cataract surgery, age-related macular degeneration and glaucoma treatments, refractive lens replacement and laser eye surgery. "With the acquisition of Optegra, we are stepping into a new frontier – one where comprehensive eyecare, advanced diagnostics, therapeutic interventions and surgical treatments come together in one seamless platform", Essilorluxottica CEO Francesco Milleri and deputy CEO Paul du Saillant said in a statement. Essilorluxottica was advised by Rothschild for the transaction. It is aiming to expand beyond its traditional lenses and sunglasses products, into complementary sectors characterised by a strong technological component, such as Ray-Ban Meta smart glasses or hearing aids applied to glasses.
