While waiting for Meta to enter the capital, EssilorLuxottica is developing the next generation of smartglasses. These are the "smart" glasses capable of taking images, shooting videos, and connecting with smartphones, and according to Essilux CEO Francesco Milleri, they will eventually replace mobile phones. The partnership between the firm and Meta, which began in 2019, has resulted in the development of two versions of Ray-Ban-branded smart glasses: the Ray-Ban Stories and the Ray-Ban Meta, both of which feature AI apps in the United States. It is the flagship product (top sellers in 60% of Ray-Ban stores) that has the potential to sell one million glasses by the end of the year. According to Equita analysts, following a discussion between the broker and Stefano Grassi, the CFO of the Del Vecchio family-controlled eyewear firm, the "Ray-Ban Meta are selling above initial expectations". Essilux's capitalization topped 100 billion euros at the end of October.