Companies in this industry manufacture ophthalmic products including contact lenses, prescription glasses frames and lenses, and sunglasses. Major companies include Bausch + Lomb, Marchon Eyewear, and Signature Eyewear (all based in the US), as well as De Rigo, Luxottica, Marcolin, and Safilo (all in Italy), Essilor International (France), and Fielmann (Germany).
Demand is driven by demographics, fashion trends, new product lines, and the level of consumers' discretionary income. The profitability of individual companies depends on maximizing operating efficiencies, maintaining a stable of licenses with popular brands, and effective pricing. Large companies have advantages in purchasing power for raw materials and may control many of the distribution outlets. Small companies can compete effectively by offering more specialized and innovative product lines. The US industry is highly concentrated: the 50 largest companies account for more than 90% of industry revenue.
Products, Operations & Technology
Major products include eye glasses frames, prescription lenses, lens coatings, contact lenses, sunglasses, reading glasses, and goggles.