The FT reports that Meta is reportedly in discussions to acquire a 5% stake in EssilorLuxottica, the parent company of Ray-Ban, for approximately $5 billion. This move is seen as a strategic step to deepen their partnership in the development of smart glasses, following the success of their Ray-Ban Meta smart glasses.

The investment is part of Meta's broader strategy to expand its presence in the augmented reality (AR) and virtual reality (VR) market. However, there have been reports of disagreements between Meta and EssilorLuxottica over the design of future smart glasses, with EssilorLuxottica expressing concerns about the aesthetics of Meta's proposed designs.

We'll be keeping a close eye on this one ...