Dominance in the Eyewear Industry
Luxottica is the dominant force in the eyewear industry, controlling 80% of major brands in the $28 billion global eyeglasses industry.
Origin of Eyewear
The origin of eyewear can be traced back to Florence, Italy in 1289 when an optician named Salvino D’Armate invented glasses.
Eyewear Industry Overview
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Market Players and Segmentation
The global eyewear industry is highly fragmented, with both local and international players. Major companies are segmented into the contact lens market and the spectacles and sunglasses market. -
Global Leaders
Luxottica and Essilor have become global leaders in spectacles, sunglasses, and contact lenses.
Notable Brands and Manufacturers
Luxottica Group:
- Operates over 3,000 retail stores in North America.
- Leading optical retailer in the U.S. with sales of about $2 billion in 2020.
Kering Eyewear:
- Manufacturer of Balenciaga sunglasses.
Johnson & Johnson Services, Inc. and Alcon:
- Hold significant shares in the global contact lens market.
Market Expansion and Growth
- Luxottica aims to cross USD 200 billion market size by 2033, growing at a CAGR of 7%.
Quality Recognition
Masunaga eyewear has won the Silmo d’Or award three times, establishing its reputation in the industry.