Eyewear groups have a “wealth of opportunity.”
The eyewear market is changing quickly, with LVMH and Marcolin planning a joint venture and Luxottica and Essilor planning a merger.
And you can chalk much of the action up to a burgeoning middle class, Business of Fashion reports.
The publication explains that the trend “represents a wealth of opportunity for global luxury groups to further expand their offering to a wider net of consumers” and that it’s one that companies such as LVMH “are evidently keen to gain further control over.”
Luca Solca, head of luxury goods at Exane BNP Paribas, tells the publication that eyewear “is accessible in absolute price terms, and dovetails with middle class consumers driving luxury growth going forward.”
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Kering also got in on the trend when it brought its brands in-house, severing an agreement with Safilo.
The challenge for companies that aren’t Luxottica, however, is scale. It’s hard to rival what the industry giant has built in terms of manufacturing, distribution and sales capacity.
Read more at Business of Fashion
