In this article, we will take a look at the thirteen biggest eyewear companies in the world. If you want to see more companies in this selection, go to the 5 Biggest Eyewear Companies on the planet .

According to Grandview research, the size of the global eyeglasses industry stood at $157. 8 billion at the particular end of 2021. The industry is set to experience a compound annual growth rate (CAGR) of 8. 4% during the 2022 to 2030 period. The higher adoption associated with luxurious accessories into the lifestyles of millennials and the increased awareness about eye health are highlighted as potential catalysts for the strong development outlook. In the eyewear industry, the luxury eyewear segment is monopolized by the presence of EssilorLuxottica. The Charenton-le-Pont, France-based vertically integrated sunglasses giant, was created in October 2018 following the particular merger associated with French Essilor with the Italy-based Luxottica. Essilor acquired Luxottica for $24 billion plus became the business with a strong existence in eyeglasses, frames, lenses, and retailing segments. Luxottica has had a rich history of acquisitions since its inception inside 1961. The particular company owns luxury eyewear brands like Ray-Ban, Prada, and Oakley. However, due to the strong demand for affordable product offerings, numerous luxurious eyewear brands have started to roll out affordable options to cater to a wider audience. For instance, Luxottica developed a street-style eyewear brand Arnette for the Indian market in 2021. The brand claims that 70% of the offerings are eco-friendly and economical.

The particular eyewear companies are coming up with the latest designs plus patterns in order to remain relevant to the changing fashion trends and maintain the attraction of their target audience. Furthermore, the particular behemoths of the industry are usually constantly working on attracting new customers into their fold while retaining the current customer pool. The enhancement associated with customer experience is also playing the significant part in the particular expansion of the eyeglasses industry. Eyeglasses companies are doing this by offering new facilities or launching innovative products. Numerous companies have launched mobile applications that allow the user to conduct an initial screening at home before opting for a complete eye examination simply by an expert. Now, users have the option to conduct standard eye tests in your own home without going to the store. The mobile application even provides a prescription for that client to buy glasses or contact lenses with regard to vision correction.

An Expanding E-Commerce Segment

Like all the other consumer industries, the sunglasses industry has also benefitted from the rise associated with e-commerce and social media during the COVID-19 pandemic. The particular e-commerce segment contributed 21% to the top line of the eyewear business in 2020. The leading eyewear companies within the globe, such as Alcon Laboratories, Inc (NYSE: ALC ), EssilorLuxottica SA, plus GrandVision, are usually constantly pushing and advertising their products and services over social media in order to attract customers. Social media is aiding these businesses in understanding their clients more intimately. Furthermore, the particular COVID-19 pandemic restricted movement due to restrictions and lockdowns; this caused people to spend time at home and thus increased the time consumed by TV and smartphones. The increase in screen time is causing customers to opt regarding anti-fatigue plus vision modification glasses, increasing the need for blue light-canceling lens.

It must be noted that the eyeglasses industry is led by the spectacles segment, which accounted intended for more than 55% from the sales in 2021. Meanwhile, the particular contact lenses section contributed 33% towards the best type of the eyewear market. The outlook of the get in touch with lenses section is furthermore strong as product advancements are expected in order to impact requirement positively. Modern contact lenses are now light-adoptive and multifocal toric lenses. These ultra-edge lenses can change according to the particular lighting conditions, lowering dryness and irritation, which is often a side effect of wearing contact lenses.

Photo by CHUTTERSNAP on Unsplash

Our Methodology

In this article, we will go through the 13 biggest sunglasses companies inside the planet. We have looked at the extensiveness of these companies’ operations across the particular world and have ranked them in ascending order from the number associated with employees because of 2022. The list includes both private plus public limited companies.

Greatest Eyewear Businesses on earth

thirteen. Marchon Sunglasses

Number of Employees: 2700

Marchon Eyewear will be a New York, United States-based producer and designer of sunglasses and eyewear. The company has a number of licensed and house brands in its portfolio.

In September 2022, Marchon Eyewear and Eastman announced a new partnership that will observe Marchon’s own and certified brand frames featuring Eastman’s Tenite Renew starting inside January 2023. The first Marchon-licensed brand name to use Eastman’s Titan Restore to create eyeglass frames plus sunglasses will certainly be Nautica. Tenite Renew is an Eastman-powered sustainable material that uses more than 60% sustainable components manufactured from recycled content. Marchon Eyewear is also working on strengthening its leadership team to aid the company’s expansion plans.

12. Warby Parker Incorporation. (NYSE: WRBY )

Quantity of Employees: 3074

Warby Parker Inc. (NYSE: WRBY) is a New York City-based retailer of get in touch with lenses, sun glasses, and prescription eyewear. Although Warby Parker Inc. (NYSE: WRBY) was initially launched as an online marketplace, it currently sells its products mainly through around 160 physical retail sites spread out across the United States and Canada.

With Warby Parker’s “Home-Try-On program, ” clients may choose five structures from your company website, receive them, plus try all of them on to get free over the course of five days. Through the particular business’s smartphone app, customers can also upload photos and virtually try on frames. The business imports its own raw materials, such as acetate, through Italy prior to producing structures in the same Chinese factories as rivals like Luxottica. A Warby Parker Inc. (NYSE: WRBY) customer frequently places many orders the year plus purchases 1 . 5 units per order on average. Warby Parker offers monocles with doctor prescribed lenses in addition to spectacles, glasses, and contact lenses.

Here’s what Baron Funds said regarding Warby Parker Inc. (NYSE: WRBY) in its Q2 2022 investor letter:

“Health care related company  Warby Parker Incorporation. (NYSE: WRBY)  is responsible for about a quarter of the relative shortfall within the period. Shares of eyeglasses brand Warby Parker were down for your period held due in order to difficult market conditions pertaining to newly public companies while well since weaker-than-expected quarterly results owing to heightened COVID-related disruptions early in the year. ”

11. De Rigo

Amount of Employees: 3300

De Rigo is the market pioneer within the development, manufacturing, and marketing associated with high-end prescription eyeglasses plus sunglasses. Through 18 firms and more than 100 independent distributors, the Group’s products are sold within almost 80 different countries.

In December 2022, the Italian eyewear firm announced the decision to acquire the particular eyewear division of Rodenstock. The transaction’s financial details were not made public. De Rigo claimed that the acquisition is a part of the company’s strategic plan to support its global expansion in the high-end eyewear market. Additionally, the particular acquisition would strengthen Sobre Rigo’s distribution network inside Germany and throughout central Europe, which the eyewear company claims offer solid development prospects.

10. Safilo Group S. p. A.

Number of Employees: 4, 500

Safilo Group S. p. A. is a Padua, Italy-based designer, manufacturer, and distributor of various eyewear products like helmets, prescription frames, ski goggles, sports eyewear, plus sunglasses. The company has a presence in 40 countries directly and is present inside 70 other countries through its 50 partners. The particular distribution network of the entity reaches over 100, 000 points of sale.

Safilo Group H. p. The. is on a favorable track as the North American business is expected to achieve the economic goals for 2024 by the end of 2022. The company has targeted annual sales associated with €1 billion along with an adjusted EBITDA margin of 9% to 11%. During the first half associated with 2022, Safilo Group T. p. A. posted the top line of €570. 9 million. Meanwhile, adjusted EBITDA was reported at €62. 6 million, reflecting a margin of 10. 96%. At the current growth rate, Safilo Group S i9000. p. The. anticipates surpassing the €1 billion revenue target set for 2024.

9. Lenskart

Quantity of Employees: 5, 500

Lenskart will be a New Delhi, India-based e-commerce portal for eyeglasses in India.

The Indian eyewear industry is arranged to compound annually at an average rate associated with 8. 2% till 2027. India’s sunglasses industry is highly fragmented and unorganized, with 80% from the market share belonging to unorganized players. The remaining discuss belongs in order to the formal sector, which is growing at a faster pace and taking away share from the unorganized sector. The direct-to-consumer (DTC) eyewear company is an unicorn as it offers achieved the valuation of over $1 billion. Lenskart claims that it fulfills 100, 000 orders monthly through its omnichannel presence and provides catered to the needs of more than 7 mil customers since its inception.

8. CooperVision, Inc. (Owned by Cooper Companies Inc (NYSE: COO))

Number associated with Employees: 5404

Based in California, United States, CooperVision Inc. is a renowned producer of soft contact lenses. The business was established in 1980 as a division of The Cooper Companies, Incorporation. Today, the particular company’s products are sold in over 100 nations.

The organization makes use associated with Aquaform Technology in its premium disposable lenses in order to provide natural moisture plus comfort to users.   CooperVision Inc. ’s advanced technology attempts to make contact lenses an attractive option for people suffering from astigmatism. The particular company’s Optimized Toric Lens Geometry provides exceptional on-eye stability.

CooperVision’s daily activities place a high emphasis upon the environment and resource preservation. The company’s New York, USA, sites run entirely on renewable energy sources. A water conservation initiative in CooperVision’s production site has saved 63 million liters yearly plus decreased the need for city-sourced water by 35%.

7. Bausch + Lomb Corporation (NYSE: BLCO )

Number of Employees: 12, 800

Bausch + Lomb Corporation (NYSE: BLCO) is usually a Vaughan, Canada-based eye health organization that offers eye care products, lenses, and lens care products.

Experts believe that companies like Bausch + Lomb Corporation (NYSE: BLCO) will deliver strong growth in 2023 in the field of contact lens, vision treatment, and ophthalmic pharmaceuticals. There are a few factors that could play the pivotal role in driving up the stock price of Bausch + Lomb Corporation (NYSE: BLCO) in the coming quarters. These factors are related in order to the timing of the company’s spinoff along with the approval, launch, and initial response associated with NOVO3 with regard to the treatment of the dry eye. Furthermore, the transition of the particular management is definitely also anticipated to play a part in the stock price performance.

6. Fielmann AG

Number of Employees: 22, 640

Fielmann AG is a Hamburg, Germany-based eyewear company that is a designer, manufacturer, distributor, and optician associated with visual aid products. The business claims to have 27 million active customers through its stores and e-commerce presence as of 2022.

On December 20, Fielmann AG announced that it had agreed in order to acquire Spain-based Ibervision, Medop, and Elaboria for a sum of €70. 8 million. These three entities are subsidiaries regarding Bilbao, Spain-based MFI Group. The acquisition will help Fielmann AKTIENGESELLSCHAFT in expanding its retail and web commerce footprint within the Spanish eyeglasses market. Fielmann will take over 19 retail outlets through the purchase. The stores and ecommerce platform generated total revenue of €35 million plus employed 285 staff members in 2021.

In addition to Fielmann AG, companies like Alcon Laboratories, Incorporation (NYSE: ALC), EssilorLuxottica SA, and GrandVision are also on our list of the 13 biggest sunglasses companies in the world.

Click to continue reading in addition to see the 5  Biggest Eyewear Companies in the particular World .

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Disclosure: None.   13 Biggest Eyewear Companies in the World   is originally published on Insider Monkey.

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