The world’s largest producer of eyewear, Luxottica, is aiming to transform itself into a tech company. Over the past sixty years, Leonardo Del Vecchio, an Italian entrepreneur, built Luxottica into a global powerhouse, merging it with Essilor in 2018 to create a corporate giant worth over $90 billion. The company owns iconic eyewear brands and has reported a 7% sales growth last year.
Francesco Milleri, the current CEO, is now looking to lead the company into the smart glasses market. Despite previous failures in this area, there is growing optimism for smart spectacles, with companies like Snap and Apple making significant strides in augmented-reality glasses. Analysts believe that this could be a revolutionary product akin to the mobile phone boom of the early 90s.
2024-02-22 08:47:41
Article from www.economist.com