Luxury Eyewear Market: Regaining Its Glory | Cartier, Tom Ford, Chanel
Luxury Eyewear Market Key Players
Below are the most prominent enterprise Luxury Eyewear industry players.- Luxottica Group S.P.A (Italy)
- Cartier (France)
- Tom Ford (United States)
- Chanel (United Kingdom)
- Dior (France)
- Gucci (Italy)
- Prada (Italy)
- Ray-Ban (Italy)
- Marchon Eyewear (United States)
- Warby Parker Inc. (United States)
- Moscot (United States)
- Ace & Tate (Netherlands)
- Burberry (United Kingdom)
Luxury Eyewear Market Key Business Segments
By Product Type
- Glasses
- Contact lens
- Sunglasses
- Others
By End Use Application
- Online
- Offline
Luxury Eyewear Market Regional Analysis
According to geography, the market for luxury eyeglasses has been divided into the following regions:- South American nations such as Brazil, Argentina, Chile, Colombia, and others
- Europe, which is made up of the following nations: Spain, Italy, France, Portugal, the Nordic nations, the United Kingdom, and Germany.
- The Asia-Pacific region, which includes Southeast Asia but excludes China, Japan, India, Australia, and other APAC nations
- MEA (Israel, Nigeria, Saudi Arabia, Turkey, Egypt, South Africa, and other countries)
Market Growth Drivers
- The market for luxury eyeglasses has grown as a result of increased millennial disposable money, social media impact, and the increasing frequency of eye health problems.
- Due to the millennial generation’s growing disposable money as well as the impact of social media and popular culture, more luxury goods, including eyewear like sunglasses and contact lenses, are being sold.
- Protective eyewear and eyeglasses have become more widely used as a result of the rising frequency of eye disorders brought on by the constant use of phones, televisions, and computers as well as the rising need for anti-glare eyewear in workplaces.
Opportunity
- Marketing strategies like celebrity endorsing products, influencer marketing, etc. offer a great way to connect with the millennial and Gen Z target audiences and win over their fan bases. By selling eyeglasses in a variety of forms, hues, and frame styles, the business may also vary its product line.
- With the use of a camera and filter, many physical businesses have implemented augmented reality (AR) and virtual reality (VR) to allow customers to see themselves in the glasses by superimposing virtual graphics above their faces. Sales are up as a result, and the customer experience is improved.
- The expansion of the e-commerce sector has given market participants the chance to ship their goods to even the most remote areas, thereby expanding their clientele and profitability.
Restraints
- The main obstacles preventing the market expansion of luxury eyeglasses are the availability of imitation items on the market and intense rivalry.
- Due to the numerous local and international firms, the eyewear industry is quite competitive.
- The unorganized sector currently has a majority of the market—more than 50%. Additionally, there is a tonne of counterfeit products on the market, which is hurting the market share of major brands and their profitability.
Key Target Audience
- Analysts and Strategic Business Planners
- New Entrants and Investors
- Eyewear Industry
- Fashion Industry
- Government Bodies
- Other
Major Development in the Luxury Eyewear Market
Report Highlights
| Report Attributes | Details |
| CAGR | 3.24 % |
| Market Forecast (2029) | US$ 35.9 Billion |
| Current Market Size (2022) | US$ 24.2 Billion |
| Dominating Segment | Sunglasses |
| Major Players Profiled | Italy’s Luxottica, France’s Cartier, the United States’ Tom Ford, the United Kingdom’s Chanel, France’s Dior, Italy’s Prada, Italy’s Gucci, Italy’s Ray-Ban, the United States Marchon Eyewear, the Netherlands’ Ace & Tate, and the United Kingdom’s Burberry. |
| Base Year | 2022 |
Frequently Asked Question
Q1: How big is the market for luxury eyewear right now? A: The Luxury Eyewear Market was estimated to be worth US$ 24.2 billion in 2022 and is anticipated to reach US$ 35.9 billion by 2032, increasing at a CAGR of 3.24% over the course of the forecast. Q2: What are the key segments of the Luxury Eyewear Market? A: The Global Luxury Eyewear Market Breakdown by Type (Glasses, Contact lenses, Sunglasses, Others) by Frame Material (Composite, Metal, Plastic, Titanium, Others) by Packaging Material (Plastic, Paper, Fabric) by Sales Channel (Offline & Online) and by Geography (Asia Pacific, North America, Europe, South America, and MEA). Q3: Who are the key players in the Luxury Eyewear Market? A: Some of the key players in the Luxury Eyewear Market include Luxottica, Cartier, Tom Ford, Dior, Gucci, Chanel, Prada, Ray-Ban, Warby Parker, Marchon Eyewear, Moscot, Ace & Tate, Burberry, Key Players. Contact Us: Craig Francis (PR & Marketing Manager) HTF Market Intelligence Consulting Private Limited Phone: +1 434 322 0091 [email protected] Content has been published via 11press. for more details please contact at [email protected]
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