Will Meta make inroads into the fashion world?
With CEO Mark Zuckerberg making an effort to become more fashionable recently, and Ray-Ban Stories glasses becoming an even more popular accessory, it’s not too hard to imagine a future where Meta becomes a fashion brand in its own right.
Well, maybe so.
Last weekend, The Wall Street Journal reported that Meta is in talks to acquire a 5% stake in Essilor-Luxottica, which makes Ray-Ban sunglasses.
EssilorLuxottica, who Meta has worked with on Ray Ban Stories for the past few years, owns a range of fashion brands in addition to Ray Ban, including Oakley and Sunglass Hut, so the investment is seen as a way to counter the accelerating competition in the wearables sector by ensuring Meta remains EssilorLuxottica’s sole partner for design IP and distribution.
According to the WSJ, the deal is valued at approximately $5 billion and will accrete revenue from Meta’s metaverse development.
And it might be a smart move: Demand for Ray Ban Stories has exceeded production capacity, according to Meta, and the company also plans to unveil a full line of AR-enabled sunglasses later this year, so securing a partnership with a sunglasses manufacturer could help it solidify a key advantage in producing a device that’s both functional and fashionable.
But there may be another element to the proposed partnership that hasn’t yet been widely discussed.
Another fashion brand currently owned by EssilorLuxottica is Supreme. Supreme is a trend-setting fashion brand that has gained a huge following through various celebrity clients.
EssilorLuxottica acquired Supreme earlier this month, signalling its intention to expand into other areas of fashion, which could also influence Mehta’s decision to acquire a stake in the company.
Of course, the AR wearables angle is the most logical and most straightforward partnership for both parties, but what if Meta also partnered with Supreme on a limited-edition fashion drop exclusive to Facebook and IG?
Would that make Meta’s app popular again? I’m sure it would draw a large crowd. What if Meta were to release a Supreme version of the Quest headset?
This could lead to wider fashion crossover between Meta and Supreme, in addition to an investment in the future of AR glasses.
At this point, there’s no official confirmation that Meta has acquired an equity stake in the company, so it’s all just speculation, but we do see a future roadmap for Meta to make apps cool again, with a long-term vision of building the Metaverse. of A place to go and hang out virtually.
As such, Meta is considering how to ensure its future projects remain a popular choice among the younger generation, and there could be more factors at play here than just AR glasses.
