Before
3 years none would place Google near to Luxottica. They were providing
different products and services. So different that the only common thing
between these companies was the fact that they were in the Wall Street Stock
Market in different indexes.
This
has changed a couple of years ago, since Google has announced The ProjectGlass! Of course when they announced the new product none would also say
that these companies were going to meet each other. But how will they react when
it's time to face each other?
I
think that the first answers have come recently when we heard the intention of
Google to team up with Warby Parket e-commerce rival of Luxottica and bring to
life The Project Glass with a fashionable way!
Luxottica
has not sit with crossed hands. Oakley, a division of Luxottica and a well-known
brand name worldwide and especially in US, has already started to develop
paraller technology to The Glass of Google, in order to stand the future
competition and follow the new hi-tech trends of eyewear.
Of
course it is obvious that for Google is easier to team up with Warby Parker who
are a small but with potential eyewear company, rather than Luxottica who is
the giant of Eyewear industry.
Googlehas 265 billion in market capitalization and Luxottica is 10 times lower to 25billion.
But
what about the high-end brand names? Armani, Versace, DKNY and many more
fashion designers will they stay outside the Augmented Reality trend? Does
Luxottica know how to do it with Oakley or still they will have to make an
agreement with Google?
One
thing is for sure. The Project Glass will create as big impact in the eyewear
industry as the trend will go on. For Luxottica this is the second hard bunch since
Warby Parker has entered the eyewear business.
What
should be the strategy of Luxottica to defend their monopoly? They have already
takes actions some years ago! They go massively to retail since 2002 by making
several acquisitions and mergers with medium to large retail chains, like
SunglassHut, Specsavers, Pearle, Aspen and recently to Salmoiraghi & Vigano in Italy.
What
are your thoughts on Luxottica strategy?
