Just a few days ago, it was announced that eyewear giant EssilorLuxottica would be buying Supreme for $1.5 billion USD, adding the streetwear label to its portfolio of over 150 brands.
It’s now being reported that Meta is gearing up to buy a 5% stake in EssilorLuxottica, which would effectively make the company a partial owner of Supreme, among other brands.
The tech corporation is in talks to acquire the stake, though that necessarily doesn’t mean it’ll pan out to a successful deal, The Wall Street Journal reported, citing people familiar with the matter.
Meta is already a partner with the EssilorLuxottica-owned Ray-Ban to make its collaborative smart glasses. Simply called the Ray-Ban Meta glasses, the pair uses a Ray-Ban frame, enhanced with Meta’s AI software.
Meta is reportedly looking to build on the success of the glasses and build more devices together by taking a minority stake, according to WSJ.
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