One factor: the world's largest eyewear company, the Italian firm Luxottica, controls a big chunk of the business. Lesley Stahl reports.
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via Space Daily]
China dodges blame for Qualcomm-NXP merger demise Chinese regulators said the deal would have created a virtual monopoly with "deep and far-reaching" consequences. Qualcomm said it would pay NXP a $2-billion break-up fee and begin a $30-billion stock repurchase plan. On Thursday, Chinese [...]
via The Week Magazine]
The secretive mega-companies behind your glasses The new firm will not technically be a monopoly: Essilor currently has around 45 percent of the prescription lens market, and Luxottica 25 percent of the frames. But in seven centuries of spectacles, there has never been anything like it. The new [...]
via The Guardian]
The spectacular power of Big Lens The new firm will not technically be a monopoly: Essilor currently has around 45% of the prescription lenses market, and Luxottica 25% of the frames. It will have knock-on consequences for opticians and eyewear manufacturers from Hong Kong to Peru. [...]
How Independent Luxury Brands Are Disrupting the Eyewear Industry As Lee mentioned, the power players are Luxottica and Safilo, along with Kering Eyewear, which virtually have a monopoly on the market, representing names like Fendi, Dolce & Gabbana, Cartier, Gucci and a slew of others. They have the resources [...]
In my previous column I noted that attacks on the optical profession by the national press appeared to have reduced in recent years, only for a Daily Telegraph article to appear bemoaning the cost of spectacles. As the saying goes, “history repeats itself”, and so it should come as no surprise that members of the House of Lords have once more decided to engage the optical profession in an attack reminiscent of previous debates in that House. In the early 1980s there were a number of debates in the House of Lords focusing on the monopoly of the sale and supply of spectacles held by registered optometrists and dispensing opticians. The end result for the optical world was the deregulation of dispensing spectacles to adults and allowing ready-glazed reading spectacles to be sold over the counter.
On Sunday evening, CBS’s 60 minutes devoted a piece of their program to eyewear company Luxottica Group ( LUX ). Luxottica Group was founded in 1961 in a small town in Italy and designs, manufactures and sells eyeglasses and sunglasses worldwide. Over the course of the segment, it became clear that LUX is not just your average eyewear company but rather a company that dominates the entire industry on a global basis. What many of these consumers don’t know is that just about every pair of glasses that they look at are likely being designed, made and sold to them by Luxxotica. Well, the truth of the matter is that the sunglasses from all 4 of these companies are designed and made by Luxxotica.
via Washington Post]
Monopoly is changing again–and some parents are not going to like it Remember when true success was measured by the height of your Monopoly cash stack? These days, it's calculated with your credit score. In an attempt to keep the classic board game relevant to our millennial lifestyle, Hasbro has dropped the dollar ... [...]
via Business Intelligence Middle East]
Innovative designer eyewear site launched in Dubai With market-first technology and a mission to revolutionise the designer eyewear space, specsaddict will act as a crusader for the consumer, by abolishing the current pricing monopoly that has customers paying over a 100% mark up to most retail stores. [...]
Innovative Designer Eyewear Site Takes UAE Market By Storm With market-first technology and a mission to revolutionise the designer eyewear space, specsaddict will act as a crusader for the consumer, by abolishing the current pricing monopoly that has customers paying over a 100% mark up to most retail stores. [...]
via The Gloss]
J.Crew Launches Its First Line of Sunglasses, Continues on Its Quest for Fashion Industry Domination It’s a little hard to believe that this is J.Crew’s first foray into eyewear considering they almost monopoly-esque hold on the preppy fashion world, but you learn something new every day, right? All of the frames fall in the typical J.Crew territory ... [...]
via The Business Insider]
A pair of former Warby Parker execs are attempting to create the perfect carry-on bag "While working at Warby Parker and Casper, we saw those companies completely transform the previously poor consumer experiences and high prices for the eyewear and mattress industries. In January of this year, we decided the luggage industry needed similar ... [...]
Krewe“This cycle happens so rapidly now that the pioneer becomes the victim of its own success and gets surrounded by intense competition,” says Won Lee, the U.S. CEO of Gentle Monster, a Korean-based brand. “License businesses like Luxottica and Safilo have led the fashion eyewear market for a long time, but now there’s a proliferation of eyewear brands, including independent ones like us, due to the expectation on fashion brands to have their own eyewear lines—much like fragrances. This...
Essilor International SA, the world’s largest maker of optical lenses, sees the completion of its US$54 billion merger deal with Italian peer Luxottica in the first quarter of next year as European Union antitrust investigators restart their review, according to the CEO of Essilor, Hubert Sagnières.The French company agreed in January to join forces with Luxottica, the world’s largest eyewear company and the maker of Ray-ban sunglasses, to create a global eyewear giant with annual revenue of...
tender offer injected $1.25 billion of fresh capital into the company, while giving seed investors who chose to cash out a whopping 360,000% return on their investment. Softbank’s CEO, Masayoshi Son has made a fortune from his prior big bets on Yahoo, Vodafone, Alibaba, Sprint, Nvidia and others. What is Son seeing in Uber (or, for that matter in other ride sharing companies Didi Chuxing, Ola, Grab and 99, in which Softbank has also heavily invested) that overlooks the company’s dismal...