Luxottica shares rise 3.77% on news of Google Glass deal
Analysts positive about growth potential of high-tech eyewear25 March, 15:15
(ANSA) - Milan, March 25 - Luxury eyewear company Luxottica did well in trading on the Milan bourse Tuesday in response to news of the partnership with global technology company Google for the development of the innovative wearable computer project Glass.
Shares in the world's largest eyewear company, whose brand portfolio includes Ray-Ban, Oakley and Persol, rose 3.77% to 40.43 euros by early afternoon, partly thanks to a positive reception of the project from business analysts.
"The agreement allows Luxottica to maintain its leadership in a product area that is still at the embryonic stage but with strong opportunities for growth," said investment banking firm Equita. Security brokerage firm Intermonte likewise said the partnership would give the eyewear company "access to a technology and to a product that could have huge potential if it becomes widely used".
The first Google Glass products combining a tiny screen, camera and audio on a device worn at eye level are expected to go on sale in 2015.