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Meta and Ray-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.

EssilorLuxottica said on Tuesday it had extended its partnership with Meta Platforms by agreeing a 10-year deal to continue developing smart eyewear. "The incredible work we've done with Meta, still in its early stages,

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.

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.