Gucci Owner Kering Eyes Luxury Smart Glasses with Google
Kering, the owner of Gucci, aims to launch luxury smart glasses under the Gucci brand. This initiative will be a partnership with Google, targeting a launch in 2027.
The move could position Gucci as the first major luxury brand to enter the AI-powered eyewear sector. It would create competition for Italian-French eyewear leader EssilorLuxottica, which already produces Ray-Ban smart glasses in collaboration with Meta.
Chief Executive Officer Luca de Meo discussed the timeline at Kering’s capital markets day in Florence. The strategy is part of a broader effort to expand Kering’s eyewear and jewellery divisions.
These divisions currently account for a small fraction of the group's overall revenues. Scaling them up aims to protect the luxury company from shifts in fashion tastes, which have impacted its star brand, Gucci.
Mr. de Meo also stated an objective to more than double Kering’s operating profit margin. This would place the group among other major luxury players and aid in the revitalisation of Gucci following years of declining sales.
He further indicated that the Italian brand needs to focus on its most identifiable classics. Mr. de Meo observed that throughout Gucci's 105-year history, certain aesthetic codes are immediately recognisable, but these have at times been underutilised or overused.
Addressing the impact of geopolitical events, Mr. de Meo noted that the Middle East conflict has affected luxury sales in the Gulf and restricted travel. He underscored the necessity for large corporations to adjust to a more fragmented world.
He elaborated that businesses must improve how they sell products across different markets. He believes the traditional model of a luxury brand imposing the same concept globally, from Australia to Alaska, may not remain relevant in the coming decades.
Kering plans to launch luxury smart glasses under its Gucci brand, in partnership with Google, in 2027.
This initiative positions Gucci to become a pioneering major luxury brand in the AI-powered eyewear sector.
Chief Executive Officer Luca de Meo views the expansion of eyewear and jewellery as key to Kering's strategic growth.
Source: REUTERS
