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

Out-of-patience investors sell off Amazon

9 hours ago

Amazon has long acted like an ideal customer on its own website: a freewheeling big spender with no worries about balancing a checkbook. Investors confident in founder and CEO Jeff Bezos' invest-and-expand ...

States ascend into the cloud

16 hours ago

Seven years ago, the state of Delaware started moving computer servers out of closets and from under workers' desks to create a consolidated data center and a virtual computing climate.

Microsoft drops Nokia name from smartphones

18 hours ago

Microsoft said Friday it was dropping the Nokia name from its Lumia smartphones, rebranding following the acquisition earlier this year of the Finnish group's handset division.

Amazon's loss makes holidays a question mark

18 hours ago

Amazon's trademark smile icon is becoming more of a grimace. The world's largest online retailer reported a wider third-quarter loss than analysts expected and gave a disappointing holiday forecast.

User comments : 0