Why are Sunglasses and Prescription Frames so Damn Expensive?

The answer:

Virtually all major sunglass brands and retailers are owned by a single company: Luxottica. And no one is doing anything to prevent this near-monopolistic, $100-billion industry titan from shamelessly abusing its market power. If you wear designer glasses, there’s a very good chance you’re wearing Luxottica frames.

Luxottica is Everywhere

Its owned and licensed brands include Armani, Brooks Brothers, Burberry, Chanel, Coach, DKNY, Dolce & Gabbana, Michael Kors, Oakley, Oliver Peoples, Persol, Polo Ralph Lauren, Ray-Ban, Tiffany, Valentino, Vogue and Versace.

Italy’s Luxottica also runs EyeMed Vision Care, LensCrafters, Pearle Vision, Sears Optical, Sunglass Hut and Target Optical.

And Luxottica is even bigger after merging last fall with France’s Essilor, the world’s leading maker of prescription eyeglass lenses and contact lenses. Do you have Transitions lenses in your frames? You’re an Essilor customer. The combined entity is called EssilorLuxottica.