Google Inc (NASDAQ:GOOG) signed a partnership agreement with Luxottica Group S.p.A. (ADR) (NYSE:LUX), the parent company of Ray-Ban and Oakley sunglasses brands to design, develop and distribute new versions of eye wear for Google Glass.
In a statement, Andrea Guerra, chief executive officer of Luxottica Group S.p.A. (ADR) (NYSE:LUX) said, “We are thrilled to announce our partnership with Google, and are proud to be once again setting the pace in the eyewear industry, as we have been, with more than 50 years of excellence.”
On the other hand, Astro Teller, vice president and head of Google X said, “Luxottica has built an impressive history over the last 50 years designing, manufacturing and distributing some of the most successful and well-known brands in eyewear today. We are thrilled to be partnering with them as we look to push Glass and the broader industry forward into the emerging smart eyewear market.”
According to Luxottica Group S.p.A. (ADR) (NYSE:LUX), it will work with Google Inc (NASDAQ:GOOG) across multiple efforts to create innovative iconic wearable devices. The Italian eyewear maker said both companies are “setting the pace in their respective industries and will match up high-tech developers with fashion designers with eyewear professionals.
Google Inc (NASDAQ:GOOG) and Luxottica Group S.p.A. (ADR) (NYSE:LUX) agreed to establish a team of experts who will concentrate working in the design, development, tooling and engineering of Google Glass products that connects the line between high fashion, lifestyle and innovative technology.
The Italian eyewear maker said its Ray-ban and Oakley, its two major proprietary brands with 10-year legacy in wearable technology that evolved from MP3 to HUD devices will be part of its collaboration with the search engine giant for the Google Glass. Luxottica Group S.p.A. (ADR) (NYSE:LUX) plans to reveal the details of the new products later.
J.P. Gownder, an analyst at Forrester Research commented,”Partnering with Luxottica is a huge coup for Google. In one fell swoop, Google could get Glass in front of tens or hundreds of millions of consumers in an eyewear-appropriate setting.”
In January, Google Inc (NASDAQ:GOOG) partnered with VSP Global to provide prescription lenses, trendy frames, and sunglasses for Google Glass. The search engine giant is offering light titanium frames for $225 and the sunglasses for $150 on top of the $1,500 cost of the Google Glass that was paid by the early explorers.