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

Clooney slams skittish Hollywood after Sony hack

2 hours ago

Film star George Clooney slammed the Hollywood movie industry for failing to stand up against the cyber threats that prompted Sony Pictures to cancel release of the movie "The Interview."

Atos shares soar after Xerox acquisition

5 hours ago

Shares in French tech firm Atos soared nearly five percent on Friday as traders cheered the news it had bought the IT wing of Xerox for more than $1 billion.

Two more former Sony workers sue over data breach

21 hours ago

Two more former employees of Sony Pictures Entertainment are suing the company over the massive data breach in which their personal and financial information was stolen and posted online.

Constantly changing online prices stump shoppers

22 hours ago

Online shopping has become as volatile as stock market trading. Wild, minute-by-minute price swings on everything from clothes to TVs have made it difficult for holiday shoppers to "buy low."

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.