EssilorLuxottica said on Tuesday it will extend its long-standing partnership with Meta Platforms to continue the development of smart eyewear into the next decade.

Building on the success of Ray-Ban Meta glasses, the two pioneering companies aim to write history of wearables together.

EssilorLuxottica extends partnership with Meta to develop smart eyewear, already in high demand across multiple markets. CEO cites important milestone in industry transformation.

Meta has expanded a key partnership ahead of Connect 2024 and it means great things for its next generation of smart glasses.

Ban owner EssilorLuxottica have extended their partnership into the next decade. The duo have collaborated since 2019, producing two generations of Ray-Ban Meta glasses. The agreement between Meta and EssilorLuxottica should bring more "multi-generational smart eyewear products.

EssilorLuxottica extends its smart glasses partnership with Meta by 10 years. 'We have the opportunity to turn glasses into the next major technology platform,' Mark Zuckerberg says.

While financial details of the deal remain undisclosed, there were previous reports that suggested Meta might buy a 5 percent stake in EssilorLuxottica. However, the official announcement did not mention that kind of investment.

They will build on the success of their Ray-Ban branded smart glasses. EssilorLuxottica and Meta Platforms have renewed their partnership to collaborate on smart eyewear development for the next decade.

Meta Platforms and Ray-Ban maker EssilorLuxottica announced Tuesday that they've extended their partnership with plans to "collaborate into the next decade to develop multi-generational smart eyewear products.