Please try to be a little more objective and precise then. What are the reasons people are willing to pay hundreds of dollars if there are cheap alternatives? Your figures imply that these companies make crazy profits, but luxottica had a net income of 11.7% in 2018. Maybe people value the huge variety of glasses. What are the economics of the stores? They have to offer this variety and that has a cost. Why are other fashion items vo expensive? Because people value being dressed as individuals! It's rare to see two people on the street that have even one fashion item in common. And how could this industry be so much more profitable than others? Wouldn't capital just rush in and create competition?
@__ I used to work in the dental industry. Dentures take a LOT of precise work, starting with inside your mouth all the way to the finished product. You aren't just paying for the product itself, but the many hours that go into making them and the education it took to be able to provide that service. Yes, I still think they are outrageous in price and I sincerely believe they could be half the cost but, I have an understanding of why they are high.
Tibor Klein, simply.. T-H-E-Y D-O-N'-T C-A-R-E. As long as their bank accounts are NOT AFFECTED. There's a link in one of the comments to the old CBS 60 Minutes video (taped > 15 years ago, but still mostly valid) that has a lot of a larger spin from Luxottica's perspective. Or search on CBC News' YT account for their 21+ minutes Marketplace expose... The more you watch their articles, the better CNBC's one looks....
@@ubercoolnamehere Isn't that all journalism? Also it's nice for professional journalism to be watched for free. Not all channels can interview the president of the American Optometric Association.
Lol everyone keeps saying this in the comments is a full. When two companies own it all including the various brands there is no choice for the consumer. Even non branded glasses frames are expensive.
What the hell is 'other sources'? I've got a Lenscrafters, a Sunglass Hut, and an America's Best and two optometrists in the area running through EyeMed. I don't even know where else I'd find a reasonable set of frames and lenses.
PratzStrike, apart from the online guys mentioned you should try your nearest Walmart Vision Center or Costco Wholesale club (both mentioned in the video). In the case of the latter, by US Federal law, as a HEALTH FACILITY you can enter and buy from the Vision Center even if you don't have membership and IT DOESN'T COST EXTRA either. Neither chain has any significant Essilor products, save for some frames and protective films (Transitions or Crizal, for example).
Martina V at the store they described? Yeah i mean I get mine from Costco or online and around same price. Still 0.50 cents is a huge markup to 20 euro. But yes they cost more depending where you get. When i was working as optician we sold our lenses for $80
I think that’s a little misleading don’t you think ? Sure , blank lenses cost very little, but the whole process of adding a precise and functional prescription plus all different types of lens features, is not 50 cents cost. And yes when all of that is done, a mark up is expected (since every product you buy on this earth is marked up). Good news for consumers is that they’re not forced to shop anywhere, they can go to low end , middle end, or high end shops. It all depends on the quality and fashion that you’re looking for.
Watch the Adam Ruins Everything episode on eye glasses. He goes into how Luxottica forced Oakley into bankruptcy when Oakley tried to fight Luxottica and then Luxottica bought the Oakley from the bankruptcy trustee.
I am employed by a Chinese eyewear manufacturer. That's true, and I didn't know anything about the windfall of eyeglasses until I joined this company. Frame materials, even the best acetate and titanium frames, sell for only $10-15. However, after our customers bought it back, the price was as high as $60, incredible.
Monopoly only because consumers don't look further. Go online to places like Zenni and you can get prescription glasses for $10-50 shipped. All you need is to find a cheap place for an eye exam. No one looks at what brand of eyewear you're wearing.
Yeah I agree, but you can also upload pictures of yourself to the Zenni website and get a somewhat passable representation of how it looks. Still at ~1/10 of the price you can buy many more pairs and still be financially ahead. The best thing would be to 3D scan your face (see the CNBC smart glasses video) and use that as a virtual mirror to compare frames.
@@momopaolo121 Google or Amazon they dont make products and own the stores that sell them. They are giant tech companies but they dont do this monopoly like luxottica
In Pakistan you can get glasses with frames, lenses and eye test for under ~$25 And I would assume it's the same if not cheaper in rest of the subcontinent, including India and Bangladesh.
Yep, they announced that they were no longer going to make glasses for Oakley nor sell any of their products for them, therefore the share price of Oakley dropped and Luxottica bought them for next to nothing. How that is allowed to happen baffles me, it is straight up market manipulation.
That would be "socialism" and the end of capitalism; plus hey don't respect seem quality glasses unless they cost $600 dollars so they can tell their friends at a party or snub each other ----thats how americans think.
@@ggrthemostgodless8713 yeah. If someone says to have a set price for medication at least they call them a communist and say that it would shatter the “free market” than they don’t have a free market anyway.
I remember watching a Joe Oliver segment on this, and how the owner of luxottica was stating how they 'helped' competitors to fold and agree to their deals. It was quite interesting. The CEO of luxottica closely resembled a cartoon villain.
Worked in the industry for 7 years in the independent space. The most expensive wholesale glasses I've seen was $48. Retailed for $450. Single vision lenses are around $2 - $8 per lens. Retails around $120
You should look at independant brands then. The 4-500 dollar acetate frames wholesale in the mid 100s and price just goes up for metal frames. The quality difference is also instantly noticeable.
Worked there 8 years. Started at $9.00 quit at $10.80. Highest sale in 2017 was $13,000 in one day, my commission that day was $25. They didn't wanna give me a raise so i left.
For the most recent few years, I had worked at an online eye glasses store in logistic, customer services and business decision team. The company is owned by couple of American eye doctors from FL, they contract out their lab work to a few licensed Chinese factories. Their glasses were all imported to the US with drop ball test cert and cost usually around $3-15. Then the glasses are sold either online or in their physical stores, depends on the design of the frame. When sold in the store, each pair priced $100 and up, if online, their price range $15-100. So you know sometimes when you order a pair of a glass from the eye doctor why it takes around 2 weeks. Your prediction was sent to China (which take a couple of days )and air ship back(take a week). The cheapest way to order prescription glasses nowadays is to get eye exam from your eye doctor and then order the glasses online. Coz anyhow you are most likely going to received the glasses from Chinese made glasses anyway.
Total mark up. I get my prescription glasses from asia when i vacation. Costs me $15 for frames and prescription glasses. Even have designer for cheap. What a scam.
That's actually what normal people will pay in the US, and often cheap or employer-provided vision insurance covers virtually everything even at that. No one is forced to pay anywhere near these numbers, anywhere.
You can get $50 dollar glasses here too. They charge so much because people generally have $200-$300 coverage in eye insurance, which the companies will gladly pay. If you pay out of pocket to a smaller online retailer you can get $10 frames and $30 lenses. I just got brand new glasses online and they're perfect. Cost me $45.
Luxottica was my first Corporate job in IT, Del Vecchio used to wave at me all the times while working. I thought it was some old fool working in some manufacture department. I found out later that was the owner of the company when I had to install some software on his computer. Never underestimate really short people !
I got that, The frames are made out of cardboard trash, like a mc donalds toy, and the lenses are basic non anti glare plastic are thick trash with garbage optics
Ah, you could buy ticket to Poland, get yourself dental made, medical procedure done, buy glasses, spend vacation, fly back, and still save money if you worked and spend money while receiving all these things in the US
And that's why I got LASEK -- I calculated breaking even within a decade after adding up all the yearly vision insurance, eye exams, and contacts/glasses purchases. Plus I no longer have to worry about losing these or following strict advise not to wear them in certain situations (swimming, skydiving, field ops, etc). I had mine done in Korea last year. $1300 for both eyes + recovery meds from a top Gangnam clinic. Consultations, measurements, and operation done same day; was still able to tour around the city like normal (LASEK/PRK/ASA is the older flapless one with more pain and recovery time but best results). Best money ever spent bang for buck. I hear Taiwan and South Africa are just as effective and inexpensive.
@@argtv100 I am foolish. Sweetie, you are brain dead. I donated my frames; new, to a Cuban friend that goes frequently to Cuba, so that he will give them to needy Cuban children. Are you also even familiar, how drugs (medicine) is smuggled into Cuba. What a foolish person you are. Stop living in your socialist a d communist utopia; somebody has to pay the bills.
People are willing to pay the price for specific designer brands. If they don't want to pay the money there are plenty of other brads out there. (Specsaver etc.). I used to work for Luxottica and I know they own a lot of brands but there are still plenty of cheaper brands available that are not owned by them. Don't buy a Porsche if you want to pay for a Nissan. Also you can get them online from authorized retailers if you want to save some money.
I wish Zenni glasses were sold in physical retail stores like Wal-Mart, Costco, & maybe even their own retail stores or even in stores that are currently partnered with Sunglass Hut/ Luxxottica so that there would be more affordable stylish options for more people
I get my sons and my eye exam from an actual eyecare place, but buy our glasses from an online retailer and have not had had any issues as of yet. We have used Zenni for about 3 years now.
I have worked in the industry for a long time and yes I agree that frames are over priced and the industry hasn't really evolved. People seem to forget the power of brands, just the fact that our store carries Chanel is enough to bring people in to buy glasses. Luxottica would not be able to charge these prices if consumers did not pay the price to have a Chanel frame. Luxottica has to pay quite a bit of money to license these brands, the more prestigous brands have higher licensing fees, which leads to a higher cost of frames. People also assume all glasses are made of the same materials, which is not true. Some plastics like acetates are more expensive and are a better quality. Frames made of titanium are also more expensive compared to stainless steel. The lens industry is always trying to find a way to improve the quality of your vision. Whether it be with new lens materials or different types of coatings. When buying a lens, the material it is made of is very important, especially if you have a higher rx or need astigmatism corrected. Most of these online shops are selling poor quality lens materials like polycarbonate. Polycarbonate is a very cheap material, it is a soft plastic that is lightweight and will scratch easily. Polycarbonate also offers a poor abberation value, which means you will not see as good through it compared to other lens materials. Another thing that drives lens pricing up is the research and development companies like Nikon,Zeiss, and Essilor need to do to keep improving the lens products they offer. The last thing people forget are the professionals that make sure you pick out the right style of frames, the correct lenses, and also the fit of the glasses. Those people need to get paid to keep the office open. The optical industry is no different than any other industry, if you want quality you have to pay for it.
No way. I've worn and bought glasses for over 15 years. Yes, they monopolized the market for a long time, but there are more affordable options online. At Warby Parker, I paid $225 for two prescription glasses, one were regular seeing glasses, the other were shades and both were really stylish. And before I bought them, Warby let me try out 5 pairs at home so I could see how they looked on me without any pressure to buy. Compare that to glasses I bought in 2005 for $250 for only one pair at Site For Sore Eyes. There are other online options that are even more affordable than Warby Parker. And they're becoming more prevalent. The only people who don't know about online are older folks.
We'll see if Luxottica lowers their costs on frames and lens, if not, we should sue the Federal Trade Commission (hint: the Federal Trade Commission turned a blind eye to this deal, if they actually would have looked into the history of how Luxottica has worked the glasses frames industries, you can see that they are using this deal to monopolize).
In Europe the lenses are VERY expensive and I don't know why? Standard plastic-lens (glass) is cheap, but if you want to get "extras" they are very expensive! But it is also plastic, only variance of plastic and with coating. .
Nobody has a problem with taking an eye exam. That's just a red herring. The problem is that when you go to an optometrist to get an eye exam and updated prescription, they have an eye glass store right in the office, and pressure you to buy there, while not releasing your prescription information and measurements. The two functions, eye exams and eye glass sales, NEED to be separated. People don't want to go to a doctor before buying glasses online, because it's become like going to buy a car: a massive hassle and you know you're getting ripped off before you walk out the door. Fortunately, in some places it is required by law that an optometrist provide your complete prescription, so you can take it and show for glasses anywhere.
But somehow we all have no problem paying $1000 for a new iPhone every year, but $300 for a device that corrects your eyes everyday isnt worth it? Its all about perspective. Talk about hearing aids....$4000!!!
I bought polarized prescription sunglasses from zenni for $100. There were options that were less expensive but the pair I liked was a bit pricier. My other prescription glasses were over $400...
They don’t even let retailers compete. Ray-ban’s wayfarers are retailed at $153 Amazon, Macy’s, Dillard’s, and target sells them for the exact same price.
What’s annoying is that people complain about the cost. Yes they are expensive but you don’t NEED to buy the branded item. You can get a pair of frames for $120 and then have lenses put in them. The complainers just want expensive items for nothing. You have 100% choice
200$ for an eye exam?? Really??? I can't believe it, that's insane... I work in an optics shop in Spain, the prescription test we make costs 0€ and a complete visual health exam costs 30€ for a pack of 4 yearly exams
When I last replaced my glasses it cost me £40 for my eye test from my local opticians and about the same again for the glasses - frames, lenses & anti-glare protection - from an online company. Looking from the outside in it seems like in America any time there's insurance heavily involved in an industry the costs sky rocket because the direct cost to the consumer is obfuscated and the companies can get away with charging ridiculous prices as long as everybody else plays the game.
Generic brands are about 15 to 20 dollars they almost look like the real thing but if you want ray ban or other big brand they run about 5 to 6,000 pesos mx (250 to 300 usd) at least here in mexico.
Generic brands are about 15 to 20 dollars they almost look like the real thing but if you want ray ban or other big brand they run about 5 to 6,000 pesos mx (250 to 300 usd) at least here in mexico. Keep in mind that the minimum salary is about 6.00 usd per day :( I saved up for my ray bans for about 4 months before i could buy them.
Good job on you CNBC for bringing to light these monopolies. Thanks to this video I will now be more weary of these prices and seek out more affordable eyewear.
Luxottica my foot.... I own a Polarized eyewear Rectangular Frame from IDEE and that costed me 30$. Three years and It's still scratchless working absolutely fine 😎
I went to Target Optical paid $110 for the exam. The frames cost me $130 and the lenses were $365. But I need the glasses to drive. They have a gun to my head. Noticed they didn't tell you which online eyeglasses site gave inferior lenses. Now your forced to doubt both. I bet Luxottica was behind the study.
Well I just replaced my glasses for a pair of Ray Ban and I found the quality to feel cheap af for the price they charged. It really makes me want to return them and just buy some more appropriate priced pairs from a flea market.
People are getting scammed by large corporations who hold monopolies on several areas that are important to people, and not chosen by consumers. Nobody wants to have bad eyesight, often people are born with it! So it's a necessity, and there's not enough competition for these huge scammers.
Dear Americans I'm not sure if you noticed but wherever a product is sold with with any relations to your health you are charged 4-5X more than Europe. And it so happens all your loving and caring doctors and the health institutions which exist to protect have perfect relationships with the companies that charge you 4-5X times the prices of Europe. I wonder why...
I paid for mine around 300$ here in Europe And while on holidays to Pakistan I found out for 10$ i can buy exact same lookin replica frames with same glass quality
Good reporting. What I found interesting is that Warby Parker wasn't just working the same hustle. My optometrist with my insurance, a pair of glasses is still $500. At Costco $250 w/o insurance. Several years ago I shopped around, Lenscrafters bait and switch, $99? quickly turns into $450. Online about 20 years ago I bought $125 designer frames for $15.That option seems gone. So when I started seeing Warby Parker ads, I snorted and ignored them. I could never have imagined the level of corruption that exists now. I started rereading 1984. Every creepy oppressive thing in the first chapter exists now.
I had my own glasses retail start-up focused on the lower price market share very similar to WP. I communicated with many colleagues on the market all around the world and can can confirm that market is stagnating. My marketing a ND economy research shows that no traditional regulatory approach can help here. Luxottica/Essilor are not getting monopoly profits. This actually only allows them to survive. This problem comes down to the specifics of the human vision. My personal business experience, economics studies and engineering education helped me to develop a concept of a market solution which can help to resolve this dilemma -- how to lower the eyewear prices without dropping either the quality or profits. Would be happy to share some information in case of a serious interest.
IF theres anyone reading. I recommend sites like zenni. 20 dollar frames and prescription lenses that are comparable to big name brands. My 30 dollar eye exam costs more than the glasses.
If I remember correctly, glasses is such a monopoly that some dude in Canada got sued to hell for selling cheap glasses. And who sued him? some "optometrists" group which is clearly action from these companies selling outrageously priced glasses. You can't compete with them if they just sue the hell out of anyone that opposes them, even if they don't win, they can seriously cripple their target.
No one is forcing people to buy Luxottica products. With Luxottica merging with Essilor, they still only account for 14% of market share in the world. They have a lot of competition in the world. This video makes it seem like Luxottica is the only company in the business.
@@zzKURUPTIONzz Well, consider that the next in the market (I take USA as example) is JNJ with only 5% market share (Luxottica Exilor combined has 28%)... (source Euromonitor)
And this is why i always get my glasses from Korea whenever im over there.. my prescription is so bad that it always costs me a fortune here in the states to get the lenses to a reasonably thin size that won’t weigh down on my nose. It cost me $150 for total for my frames and lenses that were thinned 12x. Oh, and they were done in 3 hours in the same day. Lovely.
They forgot to mention... This company destroying any one who stand against them you buy with our price or you will not sell your product they own the world... Ps the best glasses in the world cost 30 $ imagine how much they gain
BRAVO! To the CNBC investigation team here. You've just updated in less than 13 minutes what CBC (the Canadians) couldn't in twice as long time and what CBS (60 Minutes) did years ago, bringing for the first time some concern from some people in the Government that was absent in the other 2 articles on Luxottica / Essilor's MONOPOLISTIC PRACTICES. Hope the GLOBAL CONSUMER takes heed of this OBJECTIVE WARNING and try to stay clear of all of these European monopolist businesses as much as they can. "THE MORE YOU KNOW...the better people can fend for themselves"
@@SpinningcatOMG ? People don't go out of there way, where do I buy my glasses you ask from my eye doctor with insurance. The cost for glasses even the prices you meantioned are ridiculously expensive. $133 for a frame that cost pennies is just dumb. Lenses I am more understanding of because of all the things that go into making them but not a frame. Also I didn't know Walmart did eye exams. It must be region specific because the two near me don't have a service like that.
If you're going to spend $300 on a pair of sunglasses, go for a brand that specifically makes sunglasses & not some designer name that just wants to maximize their profits. At least then you'll be paying a ridiculous amount for glasses that are actually well made.
I got tired of being ripped off by the Luxottica monopoly. I recently bought a pair of eyeglasses online from Zenni. They are a fraction of the cost I had been paying and seem to be at least of equivalent quality. My previous glasses were over $500 with Crizal coatings, another rip off that failed to perform well. Even with meticulous care, the coatings deteriorated within a year. I had to pay $25 for the one time warranty replacement which also lasted less than a year. With only a few months of use, I am already ahead with the Zennis and I expect them to last for a lot, lot longer.
When I went to get my glasses from a optometrist who was part of the network I found the whole business strange. I had to keep demanding the sale floor person after my eye exam I just wanted my prescription but I was pushed to use the insurance.I told them I wanted only the glasses which were 100% covered by my insurance. Sadly not everyone else in the office was aware they had to say that. A woman was going to be charged $1500 on glasses (with insurance) and when she heard that she walked out of that office. I found out that I can buy a cheaper price pair of frames online and my insurance would be covered after I show evidence of purchase. I always tell my optometrist I will have laser eye surgery when I’m 21 so I don’t have to deal with this and they have a look of fear over loser a customer. 🤷🏽♀️
actually you can get prescription glasses (frames+lenses) for under $100 if you just shop at the right places online. I used to pay $600+ for a single pair until I started looking for alternatives online, like Zenni (sorry if it sounds like an infomercial) and now I can get multiple pairs for a fraction of the cost (also you get a much wider selection than a physical store). Stop buying your glasses at the same place that does your exam and you will save a huge amount.
When more competition such as Warby Parker grows, then Luxottica as a whole will be forced to bring down its prices. Its just a matter of time, monopoly or not.
@@RadicalforGod pricing as much as people are willing to pay is NOT price gouging. It is a called the free market. You are free to go buy glasses from the countless cheap brands that offer affordable eye-ware. Buying an expensive brand means you are paying for the design that was sent from Gucci to Luxottica. That's how Gucci becomes a premium brand and makes a lot of money and that's how talented designers get paid a lot of money to work for these Brands. If you want cheap glasses, just buy cheap glasses. Luxottica has about 10% of the market share. It is big, but not that big. There is no monopoly here.
Harry Aristodemou I don’t agree with that. Why would you pay $400. For something That takes $4. To make? You’re just throwing away your money. Again when people wake up and do the math then these businesses won’t get away with marking up their prices. Consumers are just part of the problem and why inflation exist. Again if nobody paid, prices would go down. We see that happening anyways with products that don’t sell. Same concept.
@@harry24798 I buy glasses from no named brands all the time, and they are still expensive for what they are. Plus glass frames are not a one size fit all ordeal. You need to wear glasses 24/7 to know what I mean. Also many frames are not covered by insurance which really narrows down the options consumers have.
@@RadicalforGod consumers are not at fault here. Government needs to step in and break up these oversized behomths. This is not something that consumers get free reign on choices many prescription glasses wearers only get X number of companies to choose from through their insurance.
Many years ago when RayBan brand belonged to Bausch and Lomb, they used glass lenses in sunglases and the quality was amazing. Now Luxottica only use plastic lenses ....
![I.N "HALLUCINATION" | [Stray Kids : SKZ-PLAYER]](http://i.ytimg.com/vi/n5B5q1Hwt_U/mqdefault.jpg)
What other products costs should we dig deeper into?
Dealership service/ parts prices vs other mechanic shops!
Hookers
CNBC nice repost
Please try to be a little more objective and precise then. What are the reasons people are willing to pay hundreds of dollars if there are cheap alternatives? Your figures imply that these companies make crazy profits, but luxottica had a net income of 11.7% in 2018. Maybe people value the huge variety of glasses. What are the economics of the stores? They have to offer this variety and that has a cost.
Why are other fashion items vo expensive? Because people value being dressed as individuals! It's rare to see two people on the street that have even one fashion item in common. And how could this industry be so much more profitable than others? Wouldn't capital just rush in and create competition?
@__ I used to work in the dental industry. Dentures take a LOT of precise work, starting with inside your mouth all the way to the finished product. You aren't just paying for the product itself, but the many hours that go into making them and the education it took to be able to provide that service. Yes, I still think they are outrageous in price and I sincerely believe they could be half the cost but, I have an understanding of why they are high.
That's nothing. Wait until they put _Supreme_ on it.
Supreme is trash. lol
Good idea 😁
China did it.
lolololol.....so true
Supreme Toilet Paper.
That Luxxotica spokesperson is the most spineless person I've ever heard.
really, have not listened to treaudum then
Tibor Klein, simply.. T-H-E-Y D-O-N'-T C-A-R-E. As long as their bank accounts are NOT AFFECTED. There's a link in one of the comments to the old CBS 60 Minutes video (taped > 15 years ago, but still mostly valid) that has a lot of a larger spin from Luxottica's perspective. Or search on CBC News' YT account for their 21+ minutes Marketplace expose...
The more you watch their articles, the better CNBC's one looks....
Not spineless, that is not the word for it.
maybe shameless?
That wanker just oozes slime. Cringeworthy individual for sure.
Is it me, or is CNBC making fire content lately?
They do make great content.
If by fire content you mean recycled content from other channels then yes
yeah I agree, they're making some good stuff lately
@@ubercoolnamehere Isn't that all journalism? Also it's nice for professional journalism to be watched for free. Not all channels can interview the president of the American Optometric Association.
They've been on a streak. Short, beautiful, interesting videos. Pretty but gets down to the point.
Next question: Why healthcare in USA is so expensive? One night in hospital and you're broke for the rest of your life.
Because the US is the only industrialized nation without universal healthcare and the whole system is rigged to sap you of all your money.
Fortunately suicide is for free :)
Psychol no your family has to pay to dispose of your body. That industry is crazy too.
💀
Average cost of the ambulance is at least $400 and once admitted into the bed at least $1000, then it goes up from there.
It's simple: you paying 10% for the glasses and 90% for the brand
Lol everyone keeps saying this in the comments is a full. When two companies own it all including the various brands there is no choice for the consumer. Even non branded glasses frames are expensive.
More like 1-2% for the glasses
Which brand? Luxottica? It's a monopoly, otherwise it wouldn't be 10% for the glasses.
Or you can pay for trash one that don't last a month.... and Put on your face to let everyone to see...
@@Bonkel35 more like 1% cost and 99% profit
Tesco will do you free eye exam if you buy one of their glasses that are around £40 to £80
I worked at Lenscrafters.
This is 100% ALL FACTS. Please get your glasses from other sources if your insurance won't cover their exorbitant prices.
Lamar Gardner or get it when you are traveling outside the country
Get the same Luxottica items from india. I Bought a Rayban yesterday on $100 and if you buy from an Indian brand you can get the same on $15
What the hell is 'other sources'? I've got a Lenscrafters, a Sunglass Hut, and an America's Best and two optometrists in the area running through EyeMed. I don't even know where else I'd find a reasonable set of frames and lenses.
Imagine having to pay money to see.
PratzStrike, apart from the online guys mentioned you should try your nearest Walmart Vision Center or Costco Wholesale club (both mentioned in the video).
In the case of the latter, by US Federal law, as a HEALTH FACILITY you can enter and buy from the Vision Center even if you don't have membership and IT DOESN'T COST EXTRA either.
Neither chain has any significant Essilor products, save for some frames and protective films (Transitions or Crizal, for example).
Wish you talked more about lens markup. $140 lenses cost 0.50 cents to make
ikr its literally made from sand
Do 140$ lenses make you coffee? Last time I got my glasses lenses were 20€ each. More refined ones were 50 to 70. All Zeiss.
Martina V at the store they described? Yeah i mean I get mine from Costco or online and around same price. Still 0.50 cents is a huge markup to 20 euro. But yes they cost more depending where you get. When i was working as optician we sold our lenses for $80
I think that’s a little misleading don’t you think ? Sure , blank lenses cost very little, but the whole process of adding a precise and functional prescription plus all different types of lens features, is not 50 cents cost. And yes when all of that is done, a mark up is expected (since every product you buy on this earth is marked up). Good news for consumers is that they’re not forced to shop anywhere, they can go to low end , middle end, or high end shops. It all depends on the quality and fashion that you’re looking for.
In Europe standard lenses cost 30 bucks or less.
I’m an employee at an Oakley retail store and I see first hand how Luxottica dominates the eyewear industry.
NotoriousSIG1855 don’t worries amazon will take over
Luxotitica was the reason why Oakley can’t compete in the market. Like the other guy said don’t worry Amazon will take over it along with Oakley Lol
and Oakleys dont last, your face sweat will make the paint peel off, never again will I buy them
Watch the Adam Ruins Everything episode on eye glasses. He goes into how Luxottica forced Oakley into bankruptcy when Oakley tried to fight Luxottica and then Luxottica bought the Oakley from the bankruptcy trustee.
Oakley is already bough by Luxottica. They kept the brand name of all the company they bought talk about stealth Capitalism.
I am employed by a Chinese eyewear manufacturer. That's true, and I didn't know anything about the windfall of eyeglasses until I joined this company. Frame materials, even the best acetate and titanium frames, sell for only $10-15. However, after our customers bought it back, the price was as high as $60, incredible.
Luxottica is a great example of a monopoly
Monopoly only because consumers don't look further. Go online to places like Zenni and you can get prescription glasses for $10-50 shipped. All you need is to find a cheap place for an eye exam.
No one looks at what brand of eyewear you're wearing.
@@Avantime The thing is glasses are what you need to be physically there to try it out or it will turn into giant mess
Yeah I agree, but you can also upload pictures of yourself to the Zenni website and get a somewhat passable representation of how it looks. Still at ~1/10 of the price you can buy many more pairs and still be financially ahead.
The best thing would be to 3D scan your face (see the CNBC smart glasses video) and use that as a virtual mirror to compare frames.
I think Google or Amazon are a better example...
@@momopaolo121 Google or Amazon they dont make products and own the stores that sell them. They are giant tech companies but they dont do this monopoly like luxottica
In Pakistan you can get glasses with frames, lenses and eye test for under ~$25
And I would assume it's the same if not cheaper in rest of the subcontinent, including India and Bangladesh.
Your buying power is also less. And for a 3rd world country like yours, $25 is probably a good amount of money.
Luxottica is all about monopolization
There are plenty of places to get nice eyeglasses frames instead of from Luxottica or Lenscrafter
Yep, they announced that they were no longer going to make glasses for Oakley nor sell any of their products for them, therefore the share price of Oakley dropped and Luxottica bought them for next to nothing. How that is allowed to happen baffles me, it is straight up market manipulation.
From the control of the frames to controlling store display, taking advantage of a broken system
This is why I don’t buy my glasses with my eye doctor, I take his Prescription and use it at Costco lol
$200 for an eye exam? They're literally free (in Australia)
lol
They are not free. Trust me, unless you have good insurance
my eye exam is cover with my insurance, but dang them frame plus lens plus blue light blocking lens, that is like 400-600 dollars. XD
Sorry, I forgot to add "in Australia" at the end of my post.
Meanwhile: in Australia...
You don't have a free eye exam when buying glasses in US? Damn
Not unless you have insurance or go an optometrist who helps people with low income.
That would be "socialism" and the end of capitalism; plus hey don't respect seem quality glasses unless they cost $600 dollars so they can tell their friends at a party or snub each other ----thats how americans think.
@@ggrthemostgodless8713 yeah. If someone says to have a set price for medication at least they call them a communist and say that it would shatter the “free market” than they don’t have a free market anyway.
Same in Canada, its cost around $100-$200
Can you do a piece like this on dentistry!?!?
We should all vote on this.
Wow the US sucks bad for just about anything health related when it comes to price huh?
Yup
I remember watching a Joe Oliver segment on this, and how the owner of luxottica was stating how they 'helped' competitors to fold and agree to their deals.
It was quite interesting.
The CEO of luxottica closely resembled a cartoon villain.
I'd say he looks and speaks more like a James Bond villain, but either he looks like a villain.
AverageLuke Do you mean John Oliver? 😅
Kinda gives me Gus Fring vibes. The "public" Gus showing the face he shows to the world.
Worked in the industry for 7 years in the independent space. The most expensive wholesale glasses I've seen was $48. Retailed for $450. Single vision lenses are around $2 - $8 per lens. Retails around $120
You should look at independant brands then. The 4-500 dollar acetate frames wholesale in the mid 100s and price just goes up for metal frames. The quality difference is also instantly noticeable.
Worked there 8 years. Started at $9.00 quit at $10.80. Highest sale in 2017 was $13,000 in one day, my commission that day was $25. They didn't wanna give me a raise so i left.
That's terrible! I think you definitely should have quit sooner than after 8 years.
What!
So your commission rate was around 0.192 percent despite their massive margins? What the Donald duck!?
bonkel35 wasnt my only job thank god. Went full time after 4 years. Or tried to.
For got to mention they only let you work 32 hours a week. Only managers or licensees 40 hours.
For the most recent few years, I had worked at an online eye glasses store in logistic, customer services and business decision team. The company is owned by couple of American eye doctors from FL, they contract out their lab work to a few licensed Chinese factories. Their glasses were all imported to the US with drop ball test cert and cost usually around $3-15. Then the glasses are sold either online or in their physical stores, depends on the design of the frame. When sold in the store, each pair priced $100 and up, if online, their price range $15-100. So you know sometimes when you order a pair of a glass from the eye doctor why it takes around 2 weeks. Your prediction was sent to China (which take a couple of days )and air ship back(take a week). The cheapest way to order prescription glasses nowadays is to get eye exam from your eye doctor and then order the glasses online. Coz anyhow you are most likely going to received the glasses from Chinese made glasses anyway.
60 Minutes had covered this story years back
Just shows how nothing has changed
Wake up Sid?
Oh yes I remember too
20 years from now, you'll say exactly the same. Bcs nothing will change.
Total mark up. I get my prescription glasses from asia when i vacation. Costs me $15 for frames and prescription glasses. Even have designer for cheap. What a scam.
Exactly!!!
It cost nothing in Saudi Arabia its around 50$ to 80$ maximum n that's for both the glass and frame
Same for India. And if you go to a local shop it can cost you as low as 30$ for both glass and frame.
That's actually what normal people will pay in the US, and often cheap or employer-provided vision insurance covers virtually everything even at that. No one is forced to pay anywhere near these numbers, anywhere.
nixonhoover2 you feel better?
nixonhoover2 basterd.
You can get $50 dollar glasses here too. They charge so much because people generally have $200-$300 coverage in eye insurance, which the companies will gladly pay. If you pay out of pocket to a smaller online retailer you can get $10 frames and $30 lenses. I just got brand new glasses online and they're perfect. Cost me $45.
Mine cost 5$. It even has Rayban written on the frame for the feels..
Hassan Ahmed real ray ban has written on lenses too
@@oacy16 fakes do too.
Luxottica was my first Corporate job in IT, Del Vecchio used to wave at me all the times while working. I thought it was some old fool working in some manufacture department. I found out later that was the owner of the company when I had to install some software on his computer. Never underestimate really short people !
America’s Best is $79.00 for exam, and two frames with lenses.
even at $79 they're making a healthy profit.
That’s apart of having a business, make a profit but much more attractive since I can’t remember where I left my glasses!
This is for the basic uncoated lens, which people rarely do get
I got that, The frames are made out of cardboard trash, like a mc donalds toy, and the lenses are basic non anti glare plastic are thick trash with garbage optics
To get glasses you actually want, with progressive lenses, polarization, and tinting or transitional lenses, you're at $300+ per pair.
Ah, you could buy ticket to Poland, get yourself dental made, medical procedure done, buy glasses, spend vacation, fly back, and still save money if you worked and spend money while receiving all these things in the US
In India you literally get offers such as buy 1 pair (around 700 Rs ≈ $10) and get 1 more pair FOR FREE.
And that's why I got LASEK -- I calculated breaking even within a decade after adding up all the yearly vision insurance, eye exams, and contacts/glasses purchases. Plus I no longer have to worry about losing these or following strict advise not to wear them in certain situations (swimming, skydiving, field ops, etc).
I had mine done in Korea last year. $1300 for both eyes + recovery meds from a top Gangnam clinic. Consultations, measurements, and operation done same day; was still able to tour around the city like normal (LASEK/PRK/ASA is the older flapless one with more pain and recovery time but best results). Best money ever spent bang for buck. I hear Taiwan and South Africa are just as effective and inexpensive.
Why are they so expensive in America?
'MURICA
Canada too
Capitalism. Is the American way.
@@mariozombie2843 Lol, try communist Cuba, or socialist Venezuela. You wouldn't have any since you wouldn't have money to pay for them.
@@curlyhairdudeify foolish person
@@argtv100 I am foolish. Sweetie, you are brain dead. I donated my frames; new, to a Cuban friend that goes frequently to Cuba, so that he will give them to needy Cuban children. Are you also even familiar, how drugs (medicine) is smuggled into Cuba. What a foolish person you are. Stop living in your socialist a d communist utopia; somebody has to pay the bills.
People are willing to pay the price for specific designer brands. If they don't want to pay the money there are plenty of other brads out there. (Specsaver etc.). I used to work for Luxottica and I know they own a lot of brands but there are still plenty of cheaper brands available that are not owned by them. Don't buy a Porsche if you want to pay for a Nissan. Also you can get them online from authorized retailers if you want to save some money.
I wish Zenni glasses were sold in physical retail stores like Wal-Mart, Costco, & maybe even their own retail stores or even in stores that are currently partnered with Sunglass Hut/ Luxxottica so that there would be more affordable stylish options for more people
I get my sons and my eye exam from an actual eyecare place, but buy our glasses from an online retailer and have not had had any issues as of yet. We have used Zenni for about 3 years now.
I have worked in the industry for a long time and yes I agree that frames are over priced and the industry hasn't really evolved.
People seem to forget the power of brands, just the fact that our store carries Chanel is enough to bring people in to buy glasses. Luxottica would not be able to charge these prices if consumers did not pay the price to have a Chanel frame. Luxottica has to pay quite a bit of money to license these brands, the more prestigous brands have higher licensing fees, which leads to a higher cost of frames.
People also assume all glasses are made of the same materials, which is not true. Some plastics like acetates are more expensive and are a better quality. Frames made of titanium are also more expensive compared to stainless steel.
The lens industry is always trying to find a way to improve the quality of your vision. Whether it be with new lens materials or different types of coatings. When buying a lens, the material it is made of is very important, especially if you have a higher rx or need astigmatism corrected. Most of these online shops are selling poor quality lens materials like polycarbonate. Polycarbonate is a very cheap material, it is a soft plastic that is lightweight and will scratch easily. Polycarbonate also offers a poor abberation value, which means you will not see as good through it compared to other lens materials. Another thing that drives lens pricing up is the research and development companies like Nikon,Zeiss, and Essilor need to do to keep improving the lens products they offer.
The last thing people forget are the professionals that make sure you pick out the right style of frames, the correct lenses, and also the fit of the glasses. Those people need to get paid to keep the office open. The optical industry is no different than any other industry, if you want quality you have to pay for it.
No way. I've worn and bought glasses for over 15 years. Yes, they monopolized the market for a long time, but there are more affordable options online. At Warby Parker, I paid $225 for two prescription glasses, one were regular seeing glasses, the other were shades and both were really stylish. And before I bought them, Warby let me try out 5 pairs at home so I could see how they looked on me without any pressure to buy. Compare that to glasses I bought in 2005 for $250 for only one pair at Site For Sore Eyes. There are other online options that are even more affordable than Warby Parker. And they're becoming more prevalent. The only people who don't know about online are older folks.
Warby is garbage.
THATS WHY i buy chinese frames with good quality which costs 21$
Buy American!
Yea buy American one they make them for 8 and sell it to you for 500 :D
We'll see if Luxottica lowers their costs on frames and lens, if not, we should sue the Federal Trade Commission (hint: the Federal Trade Commission turned a blind eye to this deal, if they actually would have looked into the history of how Luxottica has worked the glasses frames industries, you can see that they are using this deal to monopolize).
In Europe the lenses are VERY expensive and I don't know why?
Standard plastic-lens (glass) is cheap, but if you want to get "extras" they are very expensive! But it is also plastic, only variance of plastic and with coating.
.
Nobody has a problem with taking an eye exam. That's just a red herring. The problem is that when you go to an optometrist to get an eye exam and updated prescription, they have an eye glass store right in the office, and pressure you to buy there, while not releasing your prescription information and measurements. The two functions, eye exams and eye glass sales, NEED to be separated. People don't want to go to a doctor before buying glasses online, because it's become like going to buy a car: a massive hassle and you know you're getting ripped off before you walk out the door. Fortunately, in some places it is required by law that an optometrist provide your complete prescription, so you can take it and show for glasses anywhere.
What I hate more than the frames is the extra you have to pay for add-ons like polycarbonate lenses and anti-reflective coatings.
But somehow we all have no problem paying $1000 for a new iPhone every year, but $300 for a device that corrects your eyes everyday isnt worth it? Its all about perspective. Talk about hearing aids....$4000!!!
My eyewear is from Tom ford and my sunglasses are massada. I got Zeiss lenses. To avoid luxortica
Why hasn't the govt. used anti-monopoly laws to break up Luxottica ?
I bought polarized prescription sunglasses from zenni for $100. There were options that were less expensive but the pair I liked was a bit pricier. My other prescription glasses were over $400...
I live in Latin America and glasses over fifteen dollars are the rarity. Big enterprises power is uncontrolled in USA.
A starting price of $95 is still kinda expensive
They don’t even let retailers compete. Ray-ban’s wayfarers are retailed at $153
Amazon, Macy’s, Dillard’s, and target sells them for the exact same price.
It sucks to be American… treated like cashcow by every one
@@hwfq34fajw9foiffawdiufhuaiwfhw better to buy glasses on lenskart :D
In my country, it costs only 100 dollar to buy an eye.
yes
What’s annoying is that people complain about the cost. Yes they are expensive but you don’t NEED to buy the branded item. You can get a pair of frames for $120 and then have lenses put in them. The complainers just want expensive items for nothing. You have 100% choice
200$ for an eye exam?? Really??? I can't believe it, that's insane... I work in an optics shop in Spain, the prescription test we make costs 0€ and a complete visual health exam costs 30€ for a pack of 4 yearly exams
When I last replaced my glasses it cost me £40 for my eye test from my local opticians and about the same again for the glasses - frames, lenses & anti-glare protection - from an online company. Looking from the outside in it seems like in America any time there's insurance heavily involved in an industry the costs sky rocket because the direct cost to the consumer is obfuscated and the companies can get away with charging ridiculous prices as long as everybody else plays the game.
I live in Peru, I bought my glasses (lenses included) for 120 soles (about 40 dollars). The eye exam is free
Are they generic, or branded frames?
Crazy till now I assumed all latino countries used pesos.
@@paulinotou 🤦♂️
Generic brands are about 15 to 20 dollars they almost look like the real thing but if you want ray ban or other big brand they run about 5 to 6,000 pesos mx (250 to 300 usd) at least here in mexico.
Generic brands are about 15 to 20 dollars they almost look like the real thing but if you want ray ban or other big brand they run about 5 to 6,000 pesos mx (250 to 300 usd) at least here in mexico. Keep in mind that the minimum salary is about 6.00 usd per day :( I saved up for my ray bans for about 4 months before i could buy them.
I've found cheap $10 frames to be more durable and reliable than $300+ designer frames 🤷♂
Good job on you CNBC for bringing to light these monopolies. Thanks to this video I will now be more weary of these prices and seek out more affordable eyewear.
It is getting so expensive to buy prescription glasses, the laser eye surgery might be cheaper option in the long run for the eligible people.
Luxottica my foot....
I own a Polarized eyewear Rectangular Frame from IDEE and that costed me 30$.
Three years and It's still scratchless working absolutely fine 😎
I went to Target Optical paid $110 for the exam. The frames cost me $130 and the lenses were $365. But I need the glasses to drive. They have a gun to my head. Noticed they didn't tell you which online eyeglasses site gave inferior lenses. Now your forced to doubt both. I bet Luxottica was behind the study.
Was priced out of the USA glasses market, so was forced to get them from Zenni Optical.
Just get a prescription from an optometrist and then order your glasses from an online retailer. SIMPLE !!!
Well I just replaced my glasses for a pair of Ray Ban and I found the quality to feel cheap af for the price they charged. It really makes me want to return them and just buy some more appropriate priced pairs from a flea market.
Cnbc videos are always well done
I'm glad CNBC exposes this monopoly, so we all can have a perspective when we need to buy a new pair of glasses. Informed consumers can change things.
:D good joke
People are getting scammed by large corporations who hold monopolies on several areas that are important to people, and not chosen by consumers. Nobody wants to have bad eyesight, often people are born with it! So it's a necessity, and there's not enough competition for these huge scammers.
If people pay the price, did they really overcharge? Consumers forget how much power their wallets have.
It actually costs less for me to fly back to China and return with a new pair of glasses.
Dear Americans I'm not sure if you noticed but wherever a product is sold with with any relations to your health you are charged 4-5X more than Europe. And it so happens all your loving and caring doctors and the health institutions which exist to protect have perfect relationships with the companies that charge you 4-5X times the prices of Europe. I wonder why...
I paid for mine around 300$ here in Europe
And while on holidays to Pakistan
I found out for 10$ i can buy exact same lookin replica frames with same glass quality
😂😂😂
Good reporting. What I found interesting is that Warby Parker wasn't just working the same hustle. My optometrist with my insurance, a pair of glasses is still $500. At Costco $250 w/o insurance. Several years ago I shopped around, Lenscrafters bait and switch, $99? quickly turns into $450. Online about 20 years ago I bought $125 designer frames for $15.That option seems gone. So when I started seeing Warby Parker ads, I snorted and ignored them.
I could never have imagined the level of corruption that exists now. I started rereading 1984. Every creepy oppressive thing in the first chapter exists now.
CNBC, thank you for the great content, but please turn down that background music. It is way too loud.
I had my own glasses retail start-up focused on the lower price market share very similar to WP. I communicated with many colleagues on the market all around the world and can can confirm that market is stagnating. My marketing a ND economy research shows that no traditional regulatory approach can help here. Luxottica/Essilor are not getting monopoly profits. This actually only allows them to survive.
This problem comes down to the specifics of the human vision.
My personal business experience, economics studies and engineering education helped me to develop a concept of a market solution which can help to resolve this dilemma -- how to lower the eyewear prices without dropping either the quality or profits. Would be happy to share some information in case of a serious interest.
IF theres anyone reading. I recommend sites like zenni. 20 dollar frames and prescription lenses that are comparable to big name brands. My 30 dollar eye exam costs more than the glasses.
If I remember correctly, glasses is such a monopoly that some dude in Canada got sued to hell for selling cheap glasses. And who sued him? some "optometrists" group which is clearly action from these companies selling outrageously priced glasses. You can't compete with them if they just sue the hell out of anyone that opposes them, even if they don't win, they can seriously cripple their target.
"Most consumers can't spend several thousand dollars on a Prada handbag. But for $300, they can own a pair of Prada sunglasses."
Such a marketing BS.
In the perspective of luxury, that is a bargain. In the perspective of eye health, it's outright robbery.
No one is forcing people to buy Luxottica products. With Luxottica merging with Essilor, they still only account for 14% of market share in the world. They have a lot of competition in the world. This video makes it seem like Luxottica is the only company in the business.
@@zzKURUPTIONzz Well, consider that the next in the market (I take USA as example) is JNJ with only 5% market share (Luxottica Exilor combined has 28%)... (source Euromonitor)
And this is why i always get my glasses from Korea whenever im over there.. my prescription is so bad that it always costs me a fortune here in the states to get the lenses to a reasonably thin size that won’t weigh down on my nose. It cost me $150 for total for my frames and lenses that were thinned 12x. Oh, and they were done in 3 hours in the same day. Lovely.
I call bull on optometrists. Requiring yearly eye exam for most people is unneeded and only to fill up someone's pocket.
I'm guessing it is true that those glasses are of better quality so they should cost more but it's probably a difference of 10-20$, not 100-200$.
Take a weekend trip to Iceland - *Essentially to buy spectacles*
They forgot to mention... This company destroying any one who stand against them you buy with our price or you will not sell your product they own the world... Ps the best glasses in the world cost 30 $ imagine how much they gain
America is a messed up. In the UK you can get glasses and a eye examination for about £50.
Muk Bang Same here if you go to an optician but people chose not to.
BRAVO! To the CNBC investigation team here. You've just updated in less than 13 minutes what CBC (the Canadians) couldn't in twice as long time and what CBS (60 Minutes) did years ago, bringing for the first time some concern from some people in the Government that was absent in the other 2 articles on Luxottica / Essilor's MONOPOLISTIC PRACTICES.
Hope the GLOBAL CONSUMER takes heed of this OBJECTIVE WARNING and try to stay clear of all of these European monopolist businesses as much as they can.
"THE MORE YOU KNOW...the better people can fend for themselves"
Where the hell do you people buy glasses? Exam at walmart: $75, Frames: $133, lenses $74. All without insurance.
Places like Pearle Vision and the majority of Eye Wear shops.
@@ananasupreme it was a rhetorical question. The point is people shouldn't complain when they go out of their way to buy the most expensive glasses.
@@SpinningcatOMG ? People don't go out of there way, where do I buy my glasses you ask from my eye doctor with insurance. The cost for glasses even the prices you meantioned are ridiculously expensive. $133 for a frame that cost pennies is just dumb. Lenses I am more understanding of because of all the things that go into making them but not a frame.
Also I didn't know Walmart did eye exams. It must be region specific because the two near me don't have a service like that.
Guess what that frame is 2 dollars the lens are 1.50 and the the labor is 10 minutes of my day.
@@dennisp8520 I did not get the cheapest frames, I got decent frames. Take your prescription and order online. Very simple.
I don't find the answer to the question why glasses are so expensive.
Warby Parker glasses still cost damn near $400 if you need a prescription
designer glasses
If you're going to spend $300 on a pair of sunglasses, go for a brand that specifically makes sunglasses & not some designer name that just wants to maximize their profits. At least then you'll be paying a ridiculous amount for glasses that are actually well made.
60 minutes did this story like 7 years ago. This is why Warby Parker is a much better way to go.
CNBC has been making great content every day! truly impressed!
Break those oligopolis/monopolies up already
Gouverment Intervention is badly needed
The consumer would profit
I got tired of being ripped off by the Luxottica monopoly. I recently bought a pair of eyeglasses online from Zenni. They are a fraction of the cost I had been paying and seem to be at least of equivalent quality. My previous glasses were over $500 with Crizal coatings, another rip off that failed to perform well. Even with meticulous care, the coatings deteriorated within a year. I had to pay $25 for the one time warranty replacement which also lasted less than a year. With only a few months of use, I am already ahead with the Zennis and I expect them to last for a lot, lot longer.
When I went to get my glasses from a optometrist who was part of the network I found the whole business strange. I had to keep demanding the sale floor person after my eye exam I just wanted my prescription but I was pushed to use the insurance.I told them I wanted only the glasses which were 100% covered by my insurance. Sadly not everyone else in the office was aware they had to say that. A woman was going to be charged $1500 on glasses (with insurance) and when she heard that she walked out of that office. I found out that I can buy a cheaper price pair of frames online and my insurance would be covered after I show evidence of purchase. I always tell my optometrist I will have laser eye surgery when I’m 21 so I don’t have to deal with this and they have a look of fear over loser a customer. 🤷🏽♀️
actually you can get prescription glasses (frames+lenses) for under $100 if you just shop at the right places online. I used to pay $600+ for a single pair until I started looking for alternatives online, like Zenni (sorry if it sounds like an infomercial) and now I can get multiple pairs for a fraction of the cost (also you get a much wider selection than a physical store). Stop buying your glasses at the same place that does your exam and you will save a huge amount.
Come to India you will get brilliant eye check up and a good quality glasses for less than $100.
The flight to India isn't worth it
When more competition such as Warby Parker grows, then Luxottica as a whole will be forced to bring down its prices. Its just a matter of time, monopoly or not.
Costco or Maui Jim. Screw Luxottica and their monoply. I will never buy their overpriced glasses
Andrey V Me neither. My next sunglass will be Costa del Mar or Maui Jim
The real culprit here are the bogus laws that say you must have a doctor examine your eyes first and then you can get some specs. Total crap .
Its about how much consumers are willing to pay for fashion over functionality
meme youyou as long as people pay, they will continue to price gouge.
@@RadicalforGod pricing as much as people are willing to pay is NOT price gouging. It is a called the free market. You are free to go buy glasses from the countless cheap brands that offer affordable eye-ware. Buying an expensive brand means you are paying for the design that was sent from Gucci to Luxottica. That's how Gucci becomes a premium brand and makes a lot of money and that's how talented designers get paid a lot of money to work for these Brands. If you want cheap glasses, just buy cheap glasses. Luxottica has about 10% of the market share. It is big, but not that big. There is no monopoly here.
Harry Aristodemou I don’t agree with that. Why would you pay $400. For something That takes $4. To make? You’re just throwing away your money. Again when people wake up and do the math then these businesses won’t get away with marking up their prices. Consumers are just part of the problem and why inflation exist. Again if nobody paid, prices would go down. We see that happening anyways with products that don’t sell. Same concept.
@@harry24798 I buy glasses from no named brands all the time, and they are still expensive for what they are. Plus glass frames are not a one size fit all ordeal. You need to wear glasses 24/7 to know what I mean. Also many frames are not covered by insurance which really narrows down the options consumers have.
@@RadicalforGod consumers are not at fault here. Government needs to step in and break up these oversized behomths. This is not something that consumers get free reign on choices many prescription glasses wearers only get X number of companies to choose from through their insurance.
Many years ago when RayBan brand belonged to Bausch and Lomb, they used glass lenses in sunglases and the quality was amazing. Now Luxottica only use plastic lenses ....
Don’t know what kind of ray bans ur wearing but all of mines have glass lenses.
You know Adam Ruins everything already covered this
I just came back from the optometrist and bought my first pair of glasses ever and was randomly recommend this video when I got home .... kinda cool