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MILAN - Kering Eyewear, a division of the $25 billion luxury powerhouse Kering (which maintains an impressive 73.75% gross profit margin according to InvestingPro), has partnered with tech giant Google to develop AI-powered smart glasses equipped with Android XR technology. This collaboration aims to merge high-end fashion with advanced technology, introducing a new era of smart eyewear that promises to integrate seamlessly into users’ daily lives.
The new smart glasses will feature personalized AI-driven functions designed to enhance user interaction with their environment. These functions will include smart interaction and contextual awareness, all within a stylish and wearable design. Kering Eyewear and Google are focusing on creating a product that not only leverages artificial intelligence but also emphasizes beauty and style.
Roberto Vedovotto, President and CEO of Kering Eyewear, expressed pride in partnering with Google, emphasizing their shared values of innovation. He stated that the joint effort is directed towards creating a product that combines masterful design and quality with the practical benefits of AI, altering the way users interact with the real and virtual worlds.
Shahram Izadi, GM and VP of XR at Google, highlighted the synergy between Google’s immersive XR platform and Kering Eyewear’s iconic styles, aiming to provide consumers with both fashion and functionality.
Kering Eyewear, established in 2014, is a subsidiary of the global luxury group Kering. It boasts a portfolio of 14 brands, including high-end names like Gucci, Cartier, and Saint Laurent, and also owns proprietary brands such as LINDBERG and Maui Jim. Despite recent industry headwinds reflected in a 12.12% revenue decline, InvestingPro analysis suggests Kering is currently undervalued, with strong fundamentals and a Fair overall financial health rating.
This partnership represents a strategic move for both companies, as they seek to innovate within the wearable technology space by combining their respective expertise in luxury fashion and technology. The announcement is based on a press release statement from Kering Eyewear. For deeper insights into Kering’s financial outlook and additional ProTips about the luxury sector’s technological transformation, visit InvestingPro, which offers exclusive analysis and over 30 key financial metrics.
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