EssilorLuxottica S. A.

Meta has taken the lead in the race to build AI-enabled smart glasses, with EssilorLuxottica saying it sold 7 million pairs of AI-enabled glasses in 2025 and Meta growing its smart glasses sales threefold last year. The company recently showed Fortune its growing family of smart glasses at a private demo room at its Menlo Park, California headquarters, including the flagship Ray-Ban Wayfarer camera-enabled glasses with an updated nine-hour battery life, Ray-Bans with a lens display and a neural wristband, new audio-only smart glasses without a built-in camera, new styles including Aviator frames, and prototypes like the Orion augmented reality glasses. Meta on Wednesday also announced a new pair of virtual reality glasses that it says weigh only 100 grams and will ship in the spring for $1,299. Meta's Ray-Ban Display glasses start at $799, its third-generation flagship camera-enabled Ray-Bans cost $449, and the new audio-only glasses start at $349 in the Ray-Ban Clubmaster and Burbank styles. Meta is already facing multiple proposed class-action lawsuits related to its smart glasses, including one alleging it sent some footage captured by the glasses, including highly personal material, to third-party human reviewers for annotation and AI development, allegations Meta disputes. Competitors are trying to win by making privacy central to their designs, with AI startup Even Realities focusing on text-only displays and Taiwan-based HTC Corp.'s Vive Eagle glasses turning off recording if anyone says, Stop recording.

EssilorLuxottica and Meta Platforms unveiled the next generation of AI glasses at Meta Connect, expanding their smart eyewear portfolio with a new audio line, a third generation of Ray-Ban Meta, and new models, features and markets. The companies introduced Ray-Ban Meta Audio, a camera-free line they describe as their lightest and slimmest yet at as low as 43 grams, launching in Clubmaster and Burbank styles. Ray-Ban Meta Gen 3 arrives in a slimmer design with longer battery life and a customizable action button, offered in 27 color and lens combinations that include the Aviator, marking its 90th anniversary, along with the new Zena and the iconic Wayfarer in standard and large sizes. Meta Glasses with EssilorLuxottica add the Capri and Nova styles plus two models designed with the international icon LISA, and by the end of this year the companies will offer more than 100 different styles of AI glasses. Meta's new personal AI agent, Muse, will come to all of the companies' AI glasses in the US only, while Hearing Enhancement, an FDA-cleared software feature for adults with perceived mild to moderate hearing loss, arrives later this year via one-time payment or subscription. EssilorLuxottica is expanding the portfolio in the coming months into Poland, Portugal, Israel, South Africa, Indonesia, Thailand, Hong Kong, New Zealand, Malaysia and the Philippines, and Meta Ray-Ban Display are now available online and expanding into five new markets, going on sale today in the UK and Canada with pre-orders progressively starting today in France, Italy and Germany through select retail locations in Vancouver, Toronto, London, Paris, Milan, Rome, Frankfurt, Hamburg and Munich.

EssilorLuxottica (ESLOY) launched a new buyback program on Friday, authorizing an investment-services provider to purchase up to five million shares as market conditions permit, with its US-listed shares priced at $93.665. The buyback represents about 1.1% of the company's roughly 456 million shares outstanding, based on a recent disclosure that 957,954 newly issued shares equaled 0.21% of capital. At the current price, the stock trades 31.75% below its $137.24 GF Value estimate, implying about 46.5% potential upside. The program's impact on shareholders depends on whether repurchased shares are used for employee awards, which merely offset dilution, or canceled, which would permanently increase existing investors' ownership stakes.

PatentVest's new PV Pulse report finds that Apple and Microsoft hold some of the strongest AI-capability patent positions in the AI smart glasses category, despite neither selling a product. Apple's validated portfolio of an estimated 1,550 patent families outranks Google's and Snap's, ranking in the top three across all measured AI capability areas, while Microsoft's AR-rendering portfolio of 409 families nearly ties Meta's 445. Meta holds the largest validated portfolio overall at approximately 1,900 families, and Samsung's widely cited 1,525-family count is misleading, with Samsung Electronics' legitimate glasses-system portfolio closer to 550 families. EssilorLuxottica, Meta's manufacturing partner, holds about 530 validated families, more than XREAL, Xiaomi, and Vuzix combined. The report analyzes 12 companies and is available on PatentVest's insights page.

EssilorLuxottica reported first-half adjusted operating profit of 2.75 billion euros, up 15% from a year earlier and beating analyst forecasts of 2.46 billion euros. US tariff refunds and a favourable price mix were the two main drivers of the profit increase. In North America, the company had raised prices last year to offset the impact of import tariffs. Second-quarter revenue came in at 7.7 billion euros, slightly below the expected 7.8 billion euros, but rose 8.7% on a currency-adjusted basis. Sales of AI-powered smart glasses co-developed with Meta Platforms nearly doubled, while revenue from myopia-related products grew 24%.

EssilorLuxottica reported that sales of its AI-enabled glasses nearly doubled in the second quarter compared to last year, helping accelerate overall revenue growth. Second-quarter sales rose 7.2 percent to 7.7 billion euros, while first-half sales increased 5.7 percent to 14.8 billion euros and net profit jumped 12.9 percent to 1.6 billion euros. The company, which developed the AI glasses in partnership with Meta, said the products are generating sustainable profits and expanding across global markets and consumer segments. It also saw a 24 percent jump in sales of lenses that slow short-sightedness in children and plans to launch a second generation of its Nuance Audio hearing-aid glasses in mid-September.

Susquehanna analyst Mehdi Hosseini raised the price target on Applied Materials to $900 from $575 while maintaining a Positive rating. The analyst cited channel checks indicating an expanding SCE backlog extending beyond one year, with wafer fab equipment spending reaching as high as $300 billion or more in 2026 and 2027 estimates, along with new 2028 projections. Separately, Reuters reported on June 16 that Applied Materials signed a long-term agreement with EssilorLuxottica to develop augmented reality display technology and AI glasses, with plans to scale commercialization and focus on advanced optical technologies.

The Giorgio Armani Group is expected to begin a stake sale process in September, in accordance with the late designer's will. Rothschild & Co. is expected to be the adviser, given partner Irving Bellotti's longtime relationship with Giorgio Armani and his board seat at the Giorgio Armani Foundation. The will allows an initial 15 percent stake to be sold within 18 months of its opening to LVMH, EssilorLuxottica, or L'Oréal, with a further 30 to 54.9 percent possible between the third and fifth years. A market source said the heirs may consider offering a 5 percent stake to each of the three groups to ensure transparency and allow them to evaluate the company before a larger offer. The foundation would retain a 30.1 percent stake to maintain control.

EssilorLuxottica disclosed that it repurchased a total of 620,283 of its own shares between June 24 and June 25, 2026, under the authorization granted by the Annual Shareholders' Meeting on April 28, 2026. The daily weighted average purchase price across all transactions was €167.3053. On June 24, the company bought 304,398 shares at an average price of €167.3726 on XPAR, €168.0163 on DXE, €167.6850 on TQE, and €167.7422 on AQE. On June 25, it acquired 315,885 shares at an average price of €167.0344 on XPAR, €167.0661 on DXE, €166.9230 on TQE, and €166.8715 on AQE.

Applied Materials announced on June 25 the introduction of a suite of new chipmaking systems designed to build advanced 3D chip architectures that power next-generation AI. Dr. Prabu Raja, President of the Semiconductor Products Group at Applied Materials, noted that transistor and materials technologies previously driving performance gains in leading-edge logic are now becoming essential in DRAM, and that the distinction between logic and memory process technology is converging as DRAM scales to meet the bandwidth demands of HBM and AI workloads. In a separate development, Reuters reported on June 16 that EssilorLuxottica and Applied Materials signed a long-term deal to develop augmented reality display technology and AI glasses, with plans to scale up commercialization and focus research on advanced optical technologies.

Meta Platforms is making another push into smart glasses, unveiling a new line of AI-powered glasses starting at $299. That is well below last year's $800 Ray-Ban Display glasses, giving Meta a wider price range as it tries to bring wearable AI to more users. The glasses are being developed with EssilorLuxottica but will be sold under Meta's own branding rather than Ray-Ban or Oakley. The lineup will include 26 styles across different frame shapes, colors, and lens options, with prescription lenses also available. Meta is working with Kylie Jenner on the launch, signaling a desire to position the product as a consumer fashion item rather than a tech gadget.

EssilorLuxottica and Meta have launched Meta Glasses, a new collection of AI-powered eyewear starting at $299, aiming to bring smart glasses to a wider, more price-sensitive audience. The collection, which is one part of a broader portfolio that includes the best-selling Ray-Ban Meta, Oakley Meta, and the display-equipped Meta Ray-Ban Display, will be available in three styles compatible with prescription, clear, sun, and Transitions lenses. Sales begin today on Meta.com in the US, Canada, the UK, France, Italy, Germany, Spain, and several other European countries, as well as at major optical retailers like LensCrafters and Sunglass Hut in the US, with additional markets and distribution channels to follow later this year.

The global sports eyewear market is projected to grow from USD 9.73 billion in 2025 to USD 16.59 billion by 2033, at a compound annual growth rate of 6.9%. Increased participation in fitness activities and outdoor sports such as cycling, running, trekking, and water sports is driving demand for specialized eyewear that enhances comfort, durability, and visual clarity. Rising awareness of UV protection and eye health is also pushing consumers toward products with features like UV400 protection and polarized lenses, while performance-oriented innovations such as tinted lenses, anti-fog coatings, and interchangeable lens systems are capturing interest. The report segments the market by product, sports type, end user, price tier, distribution channel, and region, and profiles key companies including EssilorLuxottica, Safilo Group, Luxottica Group, Nike, and Adidas.

Citi analyst Atif Malik raised the price target on Applied Materials to $710 from $550 while maintaining a Buy rating, citing updated wafer fabrication equipment forecasts and a roll forward to 2028 earnings estimates. The firm highlighted a widening gap between memory demand and available DRAM supply that should accelerate investment in complementary semiconductor technologies and manufacturing capacity. Separately, EssilorLuxottica and Applied Materials announced a long-term joint development agreement to commercialize next-generation intelligent optical systems for augmented reality and AI-powered smart glasses, combining eyewear design with materials engineering and waveguide technology.

Applied Materials and EssilorLuxottica have signed a long-term agreement to develop augmented reality display technology and AI glasses, Reuters reported on June 16. The companies plan to scale up the commercialization of AI glasses, with research and development focused on advanced optical technologies. In a separate development, Barclays raised its price target on Applied Materials to $590 from $500 on June 11, maintaining an Overweight rating, citing a stronger capex cycle and expectations of over $200 billion in wafer fab equipment sales in 2027.

Shares of Applied Materials jumped 6.7% in afternoon trading after multiple analysts raised their price targets following the company's unveiling of a new technology platform and major partnerships. Citi raised its target to $710 from $550, while Cantor Fitzgerald, Barclays, and UBS also lifted their targets. The positive sentiment was fueled by the announcement of SENZ™, an integrated visual system for AI-powered smart glasses, along with a long-term development agreement with EssilorLuxottica, a manufacturing collaboration with GlobalFoundries, and a compute integration partnership with Qualcomm. The stock closed at $597.77, up 4.8% from the previous close.