EssilorLuxottica, which owns Ray-Ban and other eyewear companies, has entered a long-term partnership with Meta to develop more smart glasses.

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.

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 and eyewear conglomerate EssilorLuxottica plan to work together on smart glasses “into the next decade.” The two announced a long-term agreement today to extend a partnership that started in 2019 and has yielded two generations of Ray-Ban smart glasses.

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

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.

The company behind Ray-Ban glasses is EssilorLuxottica, which has been putting out eyewear products for decades now. Meta first partnered with the company back in 2019 to develop the Ray-Ban Stories,