Luxottica shares rise sharply on Google Glass deal

Mar 25, 2014

Shares in Italian eyewear maker Luxottica have risen sharply on the announcement that it will make frames for Google's new Internet-connected eyewear, the Google Glass.

Luxottica shares were up 4.7 percent to 40.77 euros ($55.80) in Milan trading Tuesday. CEO Andrea Guerra told the daily La Repubblica that the push to market will be in 2015 and that the Google partnership should help guarantee the eyewear maker annual growth of 5 percent to 10 percent. Guerra said Luxottica should soon achieve revenues of 10 billion euros, up from 7 billion euros last year.

Google Glass is a computing device that includes a thumbnail-sized screen above the wearer's right eye to view Internet content.

Explore further: Google partners with Ray-Ban maker for smart eyewear (Update)

not rated yet
add to favorites email to friend print save as pdf

Related Stories

Luxottica to launch world's first 3D glasses

Sep 15, 2010

Italian eyewear giant Luxottica said on Wednesday it would launch the world's first range of glasses for watching 3D films with prescription lenses through its US brand Oakley later this year.

Google becomes number two in market value

Feb 10, 2014

Google overtook US oil giant ExxonMobil on Monday to become the world's number two company when rated by market value, behind its high-tech rival Apple.

Recommended for you

Venture capitalist testifies in Silicon Valley sex bias suit

2 hours ago

A prominent Silicon Valley venture capitalist who helped direct early investments in Google and Amazon.com is set to take the stand Tuesday in a high-profile sex discrimination lawsuit that has sparked debate over the treatment ...

Facebook fends off telecom firms' complaints

20 hours ago

Facebook founder Mark Zuckerberg fended off complaints on Monday that the hugely popular social network was getting a free ride out of telecom operators who host its service on smartphones.

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.