Producers of hi-tech connected eyewear are multiplying their innovations with increasingly discreet models in an attempt to make a difference in a highly competitive – and fast-emerging – market.
Live translation, GPS, cameras: glasses are quickly adopting new functionalities.
“There are so many of these smart wearables, and more of them are going on your face,” said Techsponential analyst Avi Greengart at the Consumer Electronics Show (CES) in Las Vegas, where numerous smart glasses manufacturers showcased their latest innovations.
The industry has come a long way from its early days. Gone are the conspicuous protrusions of Google Glass and the bulky frames and cables of Epson’s Moverio from the early 2010s.
Today’s smart glasses, all paired with smartphone apps, increasingly resemble traditional eyewear. The Ray-Ban Meta, developed by Mark Zuckerberg’s social media giant, currently leads the market with this new approach.
According to a recent MarketsandMarkets study, the sector’s growth is “driven by advancements in augmented reality, artificial intelligence, and miniaturization technologies, which are pushing the boundaries of what these wearable devices can achieve.”
However, integrating technology into fashionable frames requires careful compromise.
The Ray-Ban Meta, for instance, can capture photos and videos, play music, and provide information about objects in view, but doesn’t offer augmented reality with superimposed images.
Meta representative Robin Dyer explained that while AR capabilities may come later, they would likely double the current price.
200 dollars
Price is a major battleground in this market, particularly with the entry of Chinese manufacturers.
While Google Glass initially retailed for around $1,500 in 2013, today’s smart glasses are approaching the price of premium conventional frames.
Meta’s James Nickerson noted that their Ray-Ban collaboration starts at $300, just $50 more than standard Ray-Bans, offering “a cool camera” as a bonus.
California startup Vue has pushed prices even lower, offering basic models with voice assistant and music capabilities for $200.
Some manufacturers, like XReal, focus on augmented reality, projecting smartphone, computer, or gaming console displays – though this is a market for which Apple‘s Vision Pro failed to create excitement last year.
For AR, recent advances help move away from the bulk of a virtual reality headset towards that of classic sunglasses, even if they require a cable to be connected to the device.
Meta’s ambition is to launch its own pared down version, the Orion, currently in the test phase but not expected to be marketed until 2027 at the earliest.
Chasing cool
Companies like Even Realities and Halliday are pioneering ultra-thin frames that look identical to standard glasses while offering basic AR capabilities.
“If we want to make a good pair of smart glasses, we must first make a pair of cool glasses,” emphasized Carter Hou, Halliday’s second-in-command.
Halliday’s $489 model, launching in March, displays text in the upper corner of the wearer’s vision. Using AI, it can suggest responses during conversations, provide real-time translation, and function as a discrete teleprompter.
Even Realities has also taken a minimalist approach.
“We got rid of the speaker, we got rid of the camera,” explained the company’s Tom Ouyang. “Glasses are for the eyes, not the ears.”
Burberry announced a key appointment on Friday with the luxury business saying it will soon have a new chief information officer.
Charlotte Baldwin
It has appointed Charlotte Baldwin to the role and she’ll join the business at the end of March. Baldwin will be responsible for leading Burberry’s global technology team and will join the executive committee. She’ll report directly to Burberry CEO Joshua Schulman.
He described her as “a highly experienced technology and digital leader with a track record of leading large-scale digital transformation”.
She hasn’t previously worked in the luxury fashion sector but has wide-ranging experience across some major-name businesses in Britain.
She’s currently the global chief digital and information officer at coffee chain Costa Coffee where she oversees the company’s technology, digital and data organisation.
Prior to joining that firm, she was the chief information, digital and transformation officer at private healthcare giant Bupa’s Bupa Insurance unit. She’s also held senior roles at Freshfields Bruckhaus Deringer, Pearson and Thomson Reuters.
Burberry has been navigating a tough period of late and Schulman joined in the top job last year, tweaking the firm’s strategy. His approach seems to be paying off with the company last week porting improved results, although the turnaround is still undeniable a work in progress.
Another day, another shopping centre delivering a “record-breaking” performance in 2024. This time it’s Gloucester Quays “capping off another year of considerable growth”, for the owner/operator Peel Retail & Leisure.
That included record Christmas trading at the key Gloucester mall, which helped overall sales for the year finish 6.7% ahead of the national average. Across November and December, retail sales grew 3.6% compared with 2023.
Looking at 2024 in total, an overall 7.4% year-on-year sales increase across its tenants was split between 6.1% for retail, and 8.5% for F&B.
But there was also double-digit growth from leading fashion, homewares, and outerwear brands including Next, Skechers, All Saints, Mountain Warehouse, Puma, Crew Clothing and Suit Direct.
It said sustained growth was seen across all categories “points to the increasing relevance of the Gloucester Quays experience”.
Paul Carter, asset director at Peel Retail & Leisure, added: “There have been various headlines this month about how challenged retail was around Christmas, so to have Gloucester Quays performing so well is a real credit to our team and our brands.
“These results also serve as a reminder of how relevant and in demand this outlet is. We have experienced consistent growth for several years, and that success can be put down to the quality of our offer and waterside environment. There is no doubt our catchment is responding to how we have evolved Gloucester Quays, as an urban outlet that combines a compelling shopping environment with dining and leisure to fit all tastes and needs, benefitting from a heritage waterside setting that few regionally can match.”
Italy’s Give Back Beauty, which makes perfumes for luxury brands such as Chopard and Zegna, on Friday said it had agreed to buy domestic rival AB Parfums to grow its distribution operations and add licensing deals.
Corrado Brondi, founder and president of Give Back Beauty
Fragrances have been outperforming the broader beauty sector and Give Back Beauty founder and Chairman Corrado Brondi told Reuters his company did not rule a possible bourse listing in the future, adding it had no financial need for it at present.
Brondi said AB Parfumes had sales of around €100 million, which would add to Give Back Beauty’s net revenues that totalled around €300 million in 2024.
Give Back Beauty, which was founded in 2019 and has a distribution deal with Dolce & Gabbana and a beauty license with Tommy Hilfiger, has a core profit margin currently a little over 15%, it said.
AB Parfums is being sold by Italy’s Angelini Industries, a family-owned group that is mostly active in the pharmaceutical sector.
Give Back Beauty’s business is currently focused on fragrances, which represent roughly 70% of its revenues, but it aims to grow its skincare, make-up and haircare product lines, Brondi said.
Entertainment8 years ago