Smart glasses are staging a comeback. After Meta (META) partnered with Ray-Ban and Oakley, Google (GOOG)(GOOGL) is making its own push into the projected $8 billion XR market. The company is also looking to move past its 2013 misstep, Google Glass. Following a $75 million equity investment in Warby Parker (WRBY) and another $75 million committed to product development, Google has now invested $100 million for a 4% stake in South Korean eyewear brand Gentle Monster. The two will co-design Android-powered XR smart glasses, expected to launch in 2026.
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Smart Glasses as Fashion Accessories
The move comes as projections for the extended reality (XR) wearables market range between $4.1 billion and $8.3 billion by 2030. Research from MarketsandMarkets, GlobeNewswire, and Grand View Research suggests compound annual growth rates of 27% to nearly 30%, driven by AR adoption, AI integration, and consumer-focused design.
Gentle Monster, known for its high-fashion frames worn by celebrities like Beyoncé, Rihanna, and Blackpink’s Jennie, reported 2024 revenue of 789.1 billion Korean won ($570 million). That brand equity is key to Google’s strategy: reframing smart glasses as fashion accessories, not just devices. As mentioned, previous efforts, such as Google Glass, failed to gain traction due in part to poor aesthetics and limited consumer appeal.
The upcoming smart glasses will feature Gemini AI integration, cameras, and displays, all designed to blend into everyday wear. Google is also partnering with Samsung (GB:SMSN) for hardware and with Warby Parker and Gentle Monster on design. Talks are ongoing with Kering Eyewear as well.
Minor Revenues, Greater Ambitions
The deal also reflects competitive pressure. Meta has already sold about 2 million Ray-Ban smart glasses through its partnership with EssilorLuxottica. Google reportedly attempted to collaborate with EssilorLuxottica but shifted its focus to emerging players instead.
For Alphabet, this is another step in expanding its consumer hardware and AI footprint. Wearables are still a minor contributor to the company’s overall revenue, but this investment indicates continued interest in diversifying its product base beyond search, cloud, and ads. It also aligns with Google’s broader AI platform ambitions, especially through Gemini.
While smart glasses are not yet a mainstream product category, partnerships like this may help bridge the gap between functionality and design. Whether the product sticks will depend on more than just looks, it will need to be helpful in daily life.
What Is the Price Target for GOOG Stock?
On the Street, Google boasts a Strong Buy rating, with an average GOOG stock price target at $198.42. This implies an 18.29% upside.
