You are being cheated, overpriced and scammed and OpticsFast is whistleblowing the eyewear industry’s biggest secret. It is a monopoly. Buying a new pair of glasses or sunglasses can be an expensive proposition – it can easily cost you several hundred dollars for a good pair. It may surprise you to know that there’s one company that controls most of the world’s eyewear and that company is Luxottica. Any first year business student will tell you that monopolies aren’t good for the consumer and that definitely applies when it comes to eyewear.
The typical pair of frames costs less than $50 to make. You don’t have to be a math major to notice that Luxottica must be making an obscene amount of profits on each pair of glasses. Sure your local eyewear company is taking their cut as well, but not before this Italian eyewear giant adds a significant markup.
The problem is no company has been able to break the monopoly even if they were inclined to. This has created a situation in which consumers are being raked over the coals and unable to do anything about it – at least until recently. One company is trying to alter the rules of the marketplace in favor of the consumer. OpticsFast reviews all new eyewear products before introducing them to their product line to ensure you’re getting the best quality product on new eyewear and they’re not afraid to offer the consumer real alternatives to the Luxottica monopoly.
We’ve already reviewed Luxottica and the massive profits on glasses they sell, but the question is just how much are they making? Well it’s not too hard to make an educated guess. A typical pair of prescription glasses these days will cost you somewhere between $300 and $500. It’s about the same for a decent pair of sunglasses. For a piece of plastic with a couple of glass lenses that cost no more than $25 to $50 to make that translates into a whole lot of cash for Luxottica. The problem is there aren’t very many alternatives and that’s one of the things that OpticsFast is trying to change.
If you think this all sounds a bit exaggerated think again. This one company really does have control of the lion’s share of the world’s major sunglass company’s and designer frame contracts. In fact the list of companies they own or have exclusive contracts for reads like a who’s who of the glasses industry. Their own house brands include Persol, Ray-Ban, and Oakley to name a few and it doesn’t stop there. They also have exclusive contracts to manufacture frames for the likes of Giorgio Armani, Ralph Lauren, Chanel, and Dolce & Gabbana. This is far from a complete list. In an industry where so many different players appear to be all playing for the same team OpticsFast is trying to realign the playing field.
The great thing about a competitive marketplace is that you can shop around. You can usually find the same product from different retailers and you can often get considerable discounts anyway as they try to outdo one another to obtain your business. In the prescription frame and sunglass business the waters are a little murkier. It turns out it isn’t just in the manufacturing sector that Luxottica has a considerable competitive advantage. They also own many of the best known retail outlets as well. Are you trying to decide between Lens Crafters, Pearle Vision, Sears Optical, or Target Optical for your next pair of frames? Don’t waste your time – they’re all owned by Luxottica. OpticsFast is a real independently owned alternative that offers much more competitive rates.
There really isn’t any aspect of the eyeglass industry that isn’t touched by Luxottica in some way. In the United States there are plenty of options when it comes to vision care insurance, but one of the largest players is EyeMed Vision Care. At this point it probably won’t come as much of a surprise to find out that Luxottica also owns them. This is the second largest vision care insurance company in all of the US. In a country that has many laws discouraging monopolies it’s a bit discouraging to know that one company has so much influence.
It isn’t just in the US that Luxottica plays a major role though – they are actually an Italian based company and their tentacles stretch to all corners of the globe. Their annual sales are well over ½ a billion dollars and have been for more than a decade. While exact numbers aren’t clear some have argued they have about 80% of the market cornered. Even if we were to be a little more conservative and suggest it was something close to half that, that’s still a great deal of financial muscle to wield within one industry.
It isn’t all doom and gloom. OpticsFast is committed to breaking the monopoly and to that end they offer a wholly in house solution that allows them to compete and pass savings along to the consumer. They have their own labs that do all of the work on your frames and they never look outside for help. Almost every major brand you can think of is available and at highly competitive rates. Unlike other retailers they also have a second lab which offers repair services as well with a 90% success rate. In addition, they also offer a price match service – all you have to do is provide the quote from a competitor and they will match it. OpticsFast is a real alternative to the Luxottica monopoly and that’s of real benefit to all consumers.