On October 1, 2018, Italian eyewear giant Luxottica and French optical company Essilor merged to become EssilorLuxottica. This change poses an even bigger threat to the competition than Luxottica has on its own in past years — arguably a monopoly over the global eyewear market.
The vertically integrated EssilorLuxottica owns dozens of different brands ranging from eyewear brands, lens technologies, retail stores to even a managed vision care plan.
Here’s a list of all the labs, brands and retail stores EssilorLuxottica owns:
Managed Vision Care
It’s easy to see how large EssilorLuxottica has grown. Market research shows Luxottica owns about 14 percent of the global eyewear market share while Essilor holds 13 percent. Combined, this equals over a quarter share of the global eyewear market which was valued at $121 billion in 2016. On top of that, Essilor (who owns Vision Source) and Luxottica are the largest eyewear retailers in the United States.
Negative Impacts of EssilorLuxottica
The Essilor-Luxottica merger is bad news for many, including practice owners, independent labs and consumers alike. When optometric practices partner with any of these EssilorLuxottica brands, this only helps strengthen the company’s grasp on the competition and allows them to continue dictating high eyewear prices. Some EssilorLuxottica eyewear products are marked up nearly 1000 percent of their manufacturing cost.
Consumers, in turn, are forced to pay for expensive glasses or to look elsewhere for their eyewear needs. This Forbes article states that “the easiest way to bust a monopoly like [Luxottica] is for consumers to recognize that they are being overcharged and patronize competitors.” Consumer understanding is just one part of the solution.
Patient retention is an important metric for any private practice owner. Optical prices greatly influence this metric and many optometrists are losing patients because of unaffordable frame and lens costs. One solution is to partner with an independent optical lab that offers quality products at an affordable price.
Work With an Independent Optical Lab
At R&D Optical Lab, we not only provide affordable, customized products using cutting-edge technology, but we also strive for a higher level of personalized service that only a smaller, independent lab can offer. If your patient has a problem with their glasses, we’ll make it right. R&D also offers unique products that your patients may not find elsewhere, including Chemistrie Clips.
We invite you to explore all that R&D Optical Lab has to offer. Please visit our website RandDOptical.com or call us at 513-273-4034 to learn more about our optical products. Check us out on Facebook, Twitter, Pinterest, Instagram or LinkedIn for our latest tips and updates!
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