CBS Report on Luxottica

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.

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