EssilorLuxottica's Smart Eyewear Gamble Faces Privacy and Competition Challenges

EssilorLuxottica's foray into AI-powered smart eyewear, via Ray-Ban Meta glasses, has shown promising revenue gains. However, privacy concerns and mounting competitors could stifle growth. Despite regulatory challenges in Europe, the company leverages its brand portfolio to maintain market leadership. Competitors like Google and Alibaba signal increased market competition.

EssilorLuxottica, through its Ray-Ban Meta glasses, is diving into the smart eyewear sector, showing notable revenue growth. However, privacy issues cast a shadow, with experts warning of potential limitations on expansion.

Despite the glasses' promising features, European regulators question the transparency of their data handling, particularly concerning bystander privacy. Meta and EssilorLuxottica have faced scrutiny to amend current practices, reflecting the region's stringent data protection laws.

Undeterred by privacy challenges, EssilorLuxottica capitalizes on its expansive brand network and market presence. Yet, rising competition from Alibaba, Google, and others hints at an evolving landscape that could alter the smart eyewear industry's dynamics.

(With inputs from agencies.)