EssilorLuxottica’s

Paris-listed shares

climbed 5.7%, while its

American depositary receipts

were up 5.8% to $109.65 in premarket trading. Meta stock rose 1.9% to $470.85 ahead of the opening bell.

The Facebook, Instagram, and WhatsApp parent joined with Luxottica to launch its Ray-Ban smart glasses, known as Ray-Ban Meta, back in 2021. Wearers can use the devices to take photos and listen to music.

Last year, Meta released a second-generation version of the smart glasses that feature the Magnificent Seven company’s own in-house artificial intelligence assistant. They sell for $299.

“Advances in AI allow us to create different [applications] and personas that help us accomplish different things,” Zuckerberg said as he kicked off the gathering,” CEO Mark Zuckerberg said as he introduced the new product. “And smart glasses are going to eventually allow us to bring all of this together into a stylish form factor that we can wear.”

Meta expects the third-generation version of the smart glasses to be ready for the 2025 holiday-shopping season and believes that buying a stake in EssilorLuxottica would open the door for the two companies to team up to produce more devices, per The Journal’s report.

EssilorLuxottica made a splashy acquisition of its own on Wednesday when it bought Supreme—the New York skateboarding and streetwear brand best known for its iconic red box logo—from VF Corporation for $1.5 billion in cash.

Meta declined to comment. EssilorLuxottica didn’t immediately respond to a request for comment from Barron’s.

Write to George Glover at [email protected]