Facts excerpted by Business Insider
- Luxottica is a $20 billion company.
- It makes glasses and sells them.
- 500 million people wear its products.
- 65 million pairs were sold last year.
- It owns Ray Bans and Oakley. It makes glasses for other brands it does not own, including Ralph Lauren, Chanel, Prada, Burbury, Prada, Tiffany, and many more.
- It owns glasses stores Lenscrafters, Pearle Vision, Oliver Peoples, Sunglass Hut and others.
- It owns Eyemed, the nation’s most popular vision insurance company.
Because it owns so much of the eyewear industry – from supply chain to distribution – Luxottica is able to charge very high prices for the glasses it sells.
The average frame plus lenses costs $300 at Lenscrafters. That’s about 20X more that it costs to make them.