Luxottica shares rise sharply on Google Glass deal

Associated Press

MILAN (AP) — 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.