He's a very competent business man, and really knows what he's doing. The consumers' ignorance is bliss to him. He's not going to kill brand loyalty to tell people what's really going on, that would be absolutely mad.
lol, there's plenty of cheaper alternatives from, say, Chinese companies. Quality is pretty decent as well (just look at videos showing knock-off Ray-Bans and how similar they are). eBay helps.
I would agree if I wasn't literally blind without glasses. Severe myopia is debilitating without MEDICAL EQUIPMENT and just because glasses are easy to come across these days doesn't mean I should have to pay over 1000% of his production cost simply for the convenience. The point of this video is to show how a capitalist economy can fail when it goes unregulated. Although he certainly played by the rules, he's now changed the rules of the market so that ONLY he can win and that's not how one maintains economic growth in capitalism.
Satisfying? You know the top is getting slimmer and sharper for each year? I'm enraged! Though of course he should be proud of himself, he's doing the best he can in a system that barely has any rules nor enough informed players. But I fail to see how you can find his dominance over your kin satisfying.
Just buy some $30 aviators from walmart or better yet some fake raybans from the internet. Nobody would be able to tell, let alone, give a shit, anyway. I have walmart glasses and many people think they are name brand. In the end, is all about who is wearing it. If you are good looking, even cheap sunglasses, will look good on you.
Updates about Luxottica since this video is very old: 1) Luxottica has merged with Essilor; the largest lens manufacturer in the world 2) Luxottica up-charges an average of 500% on its lenses and frames (most industries only up charge around 100%-200%). 3) Luxottica now owns approximately 80% of the eyeglass industry. If you want to avoid giving EssilorLuxottica money, shop at any place not mentioned in the video, AND ask what lab their lenses are made at. If they say Essilor/Meridian, then that’s Luxottica.
Thanks for the information, the glasses seems to cost more then gold.... I think Polaroid made more honest sunglasses ate reasonable price, its a alternative
Larry O I agree! But... Isn't Trump just as bad if not worse? People think Business men are more honest and efficient than career politicians just because they talk like us. We know the truth now...
krowanders Technically speaking it is the perfect example of a global Oligopoly. When a single company controls the majority of the "free" market, that company can impose certain externalities that reverberate throughout the market and consequently effect the rest of the market. We as consumers usually only focus on the prices, but it effects much more than that. The big company also limits the scope of competitiveness within the market because of the almost hidden effects it has on the rest of the market. such as, driving up materials cost, shipping, research, store locals I.E. your local kiosk or store front. The main difference between an Oligopoly and a Monopoly is that in a Monopoly ONE company controls the entire market share. While holding an Oligopoly is not illegal it effects the consumer in ways we wouldn't otherwise notice. While an oligopoly has very similar characteristics it is not a Monopoly unless it controls the entire market share. Hope I didn't rant too long :)
To be fair on him, just about every US citizen claims to be Italian just because their great-great-great-uncle's friend was from Italy. You can't be willing to falsely claim that you're Italian and then have a fit just because an Italian company owns a US brand.
@Cool.Hand nah he is a genius you would understand if you had a business or a large shop or something like that. He started from a village shop to international metropol. We should learn from him !
I worked in a optometry office/sunglass store locally-owned. And I can tell you the actual cost is cheap and the owner made a lots of money. Even more on prescription lenses.
I have to wear varifocal lenses which are more expensive than single vision lenses. I was quoted nearly £700 for new glasses from an optician. I went elsewhere and had top of the range varifocal lenses inserted to an old frame for a third of that. Best decision ever made. In the last year many firms have increased prices because government support for a lot of businesses during the pandemic was non existent, they're looking to recoup losses sustained during that time and its set off a vicious cycle which is now based on greed. What these businesses forget is that everyone was in the same boat. These rising prices will force those greedy businesses out because people can't afford to buy their goods or services
Classic monopoly in the eyeglass industry. The CEO clearly states that people are willing to pay for the name of the brand even though he owns all of the former brands that used to compete against him. Basically he's giving an impression that YOU have a choice and that you're willing to pay lots of money for stupid plastic and some metal.
+Carlos Malave Companies like Maui Jim actually make the high price worth it. They have some solid frames that can bend and twist and form back to shape and not break.
Jeremy Howard In that case ,i understand that the Maui brand has quality already built in. On the other hand, other brands are a brand name with an Italian or French name that is made in China.
+Carlos Malave It's not stupid plastic and metal to me. I like ray ban and I own a couple. the prices are high, but not prohibitive. I'd like them to be cheaper, but now I understand why they're going for 100€ where I live. Anyway, I love my ray ban, so I wouldn't consider buying a pair a bad decision, because I'm willing to pay that price for them. As another guy already said, this guy just knows what he's doing and unfortunately there isn't any real competition in the market. Kudos to him. Bad for the consumer. With that said, Im still rocking my aviators B-)
Manuel João Mr. Joao, the same reason Apple Co. makes a lot of money in overpriced iphones and other products-- made in China. I understand that you like your Ray-Ban; but you could've paid less if it Ray-Ban wasn't bought out by the big competitor and btw, instead of Italy, it's made in China for more profits.
Carlos Malave I know, but the difference being in the hundreds of dollars between the 2 products. Ray ban "only" cost around 100€, even if they only cost 20€ to make or whatever. 100€ is very affordable if you really like/want them (like I do). Apple, on the hand, has a price tag of 500/600/700. It's not even close. The scope is entirely different. Companies will always try to maximise their profits and margin. I know sunglasses could be a lot cheaper, but they could also be a lot more expensive (obviously when you see people willing to pay 400€ for a pair). In the end, for non-essencial products you will ALWAYS pay what you think the item is worth to you. You know the price, you like the item, you decide to want the item, you accept the price. No one forced me to buy my ray bans, but I really wanted them. Would be awesome if they were cheaper of course, but they're worth the price for me.
I've watched this report numerous times since it debuted years ago. It always fascinates me how the consumer (Americans in particular) have lost control of paying reasonable prices, instead of inflated prices for acetate and/or metal frames.
I refuse to buy sunglasses brand new. There are thousands of people who tire of their sunglasses or barely wear them and then want to get rid of them. You can get some pretty great deals that way. As for Ray Ban? I don't see what's all the fuss. The iconic aviator style is made by many other brands and frankly most of them are as good or superior in quality.
Its all about supply and demand. A high value is often times placed on expensive things. Couple that with a society that can afford it, and the government manipulating inflation on freaking everything, and its a perfect storm for overpriced stuff
I remembered when I was a kid and I went to a Korean American women optometrist. I told the Korean American women that her Optometrist place was cheap and she got mad insulted telling her friend that she did not like me for saying that. Now that I am older I still stand by what I said. All the glasses in the Korean American women's store were either made of cheap plastic and metals which were made in China. Those glasses do not cost a lot yet without insurance that Korean American women would charge nearly a $100 or more which was unnecessary. Lol sis got mad at me for telling the truth.
mrinanis Well, a brand is air, it's whatever it's perceived as. So it can be perceived as "American". Same for Hamilton watches being owned by the Swatch group for example. 80% of "American" brands nowadays are made in China or Mexico. At least "Made in Italy" stands for quality. Plenty of Americans pay a premium to have the prestige of something "Made in Italy", or the quality of "Made in Germany". That's perception too, kind of like national branding. Something "Made in China" or "Made in Mexico" could be identical, but perception is different. Heck I think I'm even guilty of it. I live in Italy and operate a shooting range. Being American/Canadian when it comes to guns is "cool" here and my Italian partner leverages the heck out of my nationality when selling us. It seems sometimes where I'm from is more important than the hundreds of hours of development put into the course. Just like a brand can make a $10 piece of plastic worth $300.
@@kjrayo18 The sunglasses I bought from eye buy direct broke after 4 years. Sunglasses that I had purchased from a drug store broke after a couple of months though.
I dislike my prescription ray bans so much. They keep sliding down my face :( I didn’t even know they were ray Bans when I bought them. I wasn’t paying attention and I overpaid :(
If you take the ingredients of a cake and throw them together in the oven will you get a great cake at the end? If you don’t have a cook placing all the ingredients together in the correct order, at the exact temperature and selecting the finest ingredients… You won’t have a cake. If the cook it’s a chef and apart from the great taste he decorates the cake. What is most valuable the ingredients or the craftsmanship? What if that Chef is your countryman and you as the owner of the bakery respect his labor and pay him top dollar for it and still make a good profit. Would you risk the quality of the cake to have it made in another country paying slave labors to a poor bastard that at the end won't be able to deliver the same quality? Is that so hard to understand? Ray-Ban’s today are made in Italy and are far better than the ones made before. Italians get top dollar for the craftsmanship and Americans get a great product that is not only fashionable in the many incarnations Luxottica makes but also it’s functional. Americans must understand that “THE PRICE OF CHEAP PRICES IS GREATER THAN ANY FINANCIAL GAIN” and the suffering it promotes are endless. If not ask Wal-Mart and the many American businesses that have send your jobs abroad to give you a few dollars in discounts at the mall for garbage of substandard quality… This is the worst report I have ever seen in 60 minutes. I say this placing on my face my freaking 400 USD sunglasses… Mmmmmmm they look so fucking fine… I hope that “Mario or Luigi” or whatever his fucking name is has enough money to send his kids to college and have them make me better freaking sunglasses in the future. AMEN Luxottica happy customer…
I always lose or break the expensive sun glasses. But those $4 PUGGS I bought that one time at the gas station on that road trip will probably survive the apocalypse..
ohhh my friend. Sun glasses is not a first need object. We can survive without them. Tell me... if its not worth it, why people keeps paying so much money for a product that makes no diference in their lives.
Mone Sabri people will pay $100 for a roll of toilet paper if you lock them in the bathroom with none after they take a messy dump, doesnt mean toilet paper is worth $100/roll
That explains why online spectacle companies are able to be profitable while offering stylish frames with lenses people want to wear. It vindicates my view that notwithstanding the overheads traditional opticians have to pay the mark up on a pair of glasses is off the scale
+Tou Xiong Like a Capo I would say... " we didnt buy Oakley, we didnt buy our competition, they just understood that life was better together" put that piece of interview with The Godfather music and match perfectly
With that 600$ you could visit my country, chill for five days, eat buffets everyday and then get the exact same glass with prescription lenses and still you had 100$ left.
@@iggypopisgod9 how ilitrate you are!! You can live a very good life in 600 USDs in Bangladesh,Sri Lanka Pakistan and perhaps also in India.U seem to be ilitrate American
I can imagine the Mafia-like negotiations that took place when buying Oakley. "Nice sunglasses you got there. It'd be a shame if they disappeared from the market."
I stand with Oakley. They put a shitload of engineering into their eyewear and, in most cases, don't even need to (ANSI tests, etc.). I will always buy from Oakley online. Never stepped foot into Sunglass Hut.
Thank you, Lesley Stahl. I haven't been able to buy glasses for two years. Now I know why glasses are so expensive. Thank you for exposing the deceptive truth behind Luxottica.
I just bought new glasses at Costco for $178. The SAME EXACT glasses elsewhere got priced out at $538. Not a joke. Same frame, same lenses, same coatings. Costco and Walmart both told Luxottica where to shove their price fixing.
Well, let's not hoist up Walmart on our shoulders just yet. Remember, they are an unapologetic, evil corporation who drives out any (if possible all) competition in the superstores vicinity. I will even go ahead and make the bold claim that Walmart did not merge with Luxottica simply over unethical price fixing, but rather because Walmart prefers to take the full profit of all optical product sales and rather not share the companies earnings with a fellow mega corporation, like Luxottica.
Ive worked for Luxottica (Sunglass Hut) for 4 years. Extremely toxic work culture. They raise the prices anywhere from $1-$30 on each pair of glasses every single year now. The employees get 30% off as their discount (which is nothing for a $400k-$500 pair of glasses) and about 2 times a year they get 50% off. Part time sales Associates are left alone in the store for hours expected to run the store by themselves. They laid off Regional Managers during Covid leaving other regional managers to manage hundreds (literally hundreds) of stores so now everything is slipping through the cracks. With that said the glasses are good quality, and I highly recommend everyone gets a nice pair of glasses to protect your eyes- the drug store $1 pair doesn’t cut it. Luxottica owns EVERYTHING, they make SO much money yet the company culture is TRASH. I would NEVER recommend ANYONE to work for them.
It's called a monopoly! And when I watched the full report on this Luxotica owner smirks when asked why they are so expensive....translated I do because I can!
He's the Italian version of Donald Trump. It's not exactly the most productive country in the world and surely not known for much other than tourism and maybe food but Italy has found a way to get even with the USA.
+mythirdaye When a business deceives its people and puts an impression to make it seem like multiple companies, it kind of is a secret. This company is basically running a ponzi scheme. They have their own insurance which it sells and allows you to buy their subsidized products on a loan from their own credit card company. I see you're point that most of the people who fall into this are sheep. None the less, it is still something that is unaware of.
+mythirdaye its actually illegal in most nations and not only promotes oppressive production (slave labor) but high corruption (buying politicians, etc) and THEM choosing who makes it in the industry instead of the consumer...its communism capitalized...
+cicada This is not a Ponzi scheme, Ponzi scheme are targeted at investors, making them believe you are making tons of cash and that you will share it with them, except that there is no such money. All money here is real, it is from the consumer, he pays for the credit, pays for the insurance and pays for the glasses with hard earned cash, and he gets what he paid for, the only thing is that the price tag is high because there is little competition.
+gubx42 you are right in your definition of ponzi but wrong in your excusing of this company. There is not little competition, there is no competition. It is an internationally illegal company but since its a cartel monopoly with the brands of the most exclusive companies reputations on the line, nobody does anything. Its weird to me why youre defending them when you obviously dont know anything about it
I got 2 prescription eyeglasses online for $30. I was worried that they would be a waste of money but I love them and they fit great. Firmoo is good and cheap.
The ending of the video is where I felt more could have been said about the lens industry. The choices cripple the customer to buy the latest and the greatest. The frames last a good couple of years (5 or even 10 if you keep them really well). The lens business is brutal, one cannot re-purpose the lens already made and the advertised technology keeps getting better.
Not Monopoly, Organized ( MAFIA ) crime at & elite level ; they own every eyewear outlet & every vision clinic & you can add in the 2 largest EyeMed insurance provider in the world !!! Think about it !
I'm not sure why, but that guy comes off as so fucking evil/shady. Like all he's missing is the pencil-mustache to twirl. I mean, half the time when answering her questions it looks like it's taking all the will power he can muster just to hold himself back from bursting out in triumphant evil laughter.
Lol well said. In their defense though, Leslie Stahl is a boorish and uncouth reporter. If Luxottica were American she'd be waving the flag and cheering for them. Hell she'd flirt with that CEO if he was American!
surbon514 The thing is monopolies can exist in a free market, but if they go to far, someone will come in and undercut them. You can't get them into stores, setup your own stores. Set them up in other stores not beholden to them. Make long term contracts with them. It's kind of funny when she brings up if they sell other brands in their store, it's like going to a Mercedes dealership then asking why they don't have any Kia's for sale and why they don't offer new Kia's.
He actually looks like he doesn't give a shit in all honesty. And why would he? People can be shocked at this but the next time they want to blow a couple of hundred bucks on a pair of shades they'll still get a pair of Ray Ban's or Oakley's because of brand culture. Nothing will change as a result of this news piece, well made and informative as it is.
Jaime M yeah my thouhts exactly.. althougt these are all american shops, then dont have nearly as much dominance as in US still they should be invrstigated
Jaime M its all about who can pay the most. In any government, decisions are made not according to whats best for the people, but what brings in the most 'donations' from big corporations.
The reason to fine Google for its market dominance in the EU could be used to fine these guys for sure. The fact they own so much of the vertical market in eye wear and their tactic of crowding out the competition such as Oakley is a clear example of why they are so evil. This sort of market dominance would like if Apple owned Verizon in America. You think they would offer a fair price to it's so called customers? Do you think they would want to offer a good experience for its Android users? Do you think they would even sell Android phones in their retail store? Do you think Apple would want to develop Android security patches to the Android phones that were in its network?!? Hahaha!!!!! I forgot to mention that in this scenario, Apple also owns AT&T, T-Mobile, and Sprint, Cisco, Comcast, Cox, and Frontier.
You can bet that Luxocitca is working that angle every day trying to take over their optics sections by buying their companies or squeezing their supply of products.
I love this lady "Do people REALLY wear these?" *comparing glasses* mmm they're pretty similar "Since Lucottica owns you..." " MARK, you're NOT answering my question"
+Maaz Sharief (Maazypaaz) DONT BE LOOKING AT CHANEL SHIT IN THE FIRST PLACE IF YOU CANT AFFORD IT DUMBASS REPORTER. THEY DONT SWIPE YOUR CARD FOR YOU STOP COMPLAININGGGG
+justin branch It seems you are not aware that the optical quality of those glasses is shit too. They claim their lenses are of higher quality but plastic is plastic. Moreover their lens coating sucks and gets easily scratched. I had $300 RayBan and $40 Reebok Aviators, both looked similar and both had plastic lenses. Both got scratched easily. In comparison, I bought IDEE Polarized glasses for $20 and they lasted longer than more expensive ones and had better lenses too. My experience doesn't mean that RayBan suck. But if somebody did lens comparisons between Luxottica brands and other cheap Chinese brands, I bet both would have similar optical quality. And if people just want to spend money on BRAND STICKERS, I have no problem with that. Its their money.
He's 100% correct. The market sets the price. Less expensive alternatives are available. More expensive alternatives are available as well. People will pay what they believe the product to be worth.
I got a pair of glasses last week. My insurance paid for it. I asked which ones does my insurance pay for and they pointed me to the wall of $69 frames. Most of them looked pretty nice. I got a really cute pair and I totally love them. They are quite sturdy and well made. Not just some plain looking bargain basement looking frame. Actually when I went to pick them up a few days later the frame that I got looked nicer than the showroom pair. Those had probably been handled by hundreds of people by the time I looked at them. When I was waiting for my eye exam I looked around in the place and a lot of the fancy 'designer' frames were quite frankly just absolutely heidious. Not to even get into the ridiculous cost.
@S. you do have a choice, just don't buy the glasses. Simple. Want a cheaper pair? There are some out there that cost $20. It may not say Ray-Ban on the side, but itll give you the same shade as the other glasses.
agreeing with the interview doesn't refer to answering questions and getting slapped by the questions. Sometimes, it's meant to answer the questions like this to make an illusion of how it really works, so that people would argue and even get to know what the brand really is for some. It's marketing.
Luxottica is doing nothing wrong. People buy these expensive glasses BECAUSE they are expensive. If Ray-Bans were $20, you would see a lot less people wearing them. Quality doesn't matter to most people wearing $300 sunglasses.
Sadly, function has turned into a fashion statement nowadays that there is no function at all except to look like a hundred bucks. And don't forget them $300 plastic headphones!
@@CBielski87 Those things are for the consumer to look out for. We are supposed to do our research, know what we're buying, and use the information to make smart purchases. Any "gotcha" by a company is on you as a consumer for buying in haste. The fact is sunglasses have always cost this much. RayBans, for example, were around $50-60USD in the 80s. Adjust for inflation and you have around the same price. Not everything is a big conspiracy to control your wallet.
Love love love Lesley♥️and love love love Luxottica♥️as a proud collector of their product I would say that it’s totally worth the price. Especially why they did for Chanel in the early 00s…my favorite pair of 5076-H from 2005 are still in greatest of shapes and makes me happy more than any other pair in my collection🤗♥️
10 years ago people were fooled to pay these exorbitant prices. Today they feel proud to be ripped off and will shame you for not partaking in it. One thing is not having a choice. Another is to do it out of sheer ostentation.
Love the excuses that they make in order to mark up these prices. But like the guy said they price it so high because these sheeple buy it for "fashion" or because it's trendy
Adam to be fair I was in an Oakley store earlier today and bought a pair of M2 for like $90 bucks customized and all and there was a table full of $50 dollar ones. .. Not bad for a pair considering I've paid much more for prescription glasses and sun glasses ( $600+)
Mark Keller The same with absolutely everything else that exists out there in the market. The seller will always sell for as high as he can and the buyer will always buy for as low as he can. The middle ground where they find each other is what we call "prices".
11:29 For those who don't make it that far, you don't wanna miss this part: Luxottica also owns the "2nd largest vision care plan" in the nation. Because of course they do.
He's just very intelligent, doing a tricky Interview, he was just smugging because he "turned the table around" and knew the interview was a success, most other CEO would have stormed out of the room...
@ONE NASTY QUESTION MARK , You are correct. It WOULDNT be just one pair, that i could afford. I can afford SEVERAL....but theyll NEVER get my money because i dont need them and dont WANT them. And now that I know theyre doing this, if i SHOULD happen to need them one day, id figure out a way to get a pair thats not through THEM. I will literally go out of my way to make sure THEY dont get my money. Even if the whole process costs me more than i would have paid THEM.
Here in Norway everything cost 3-5 times more then in USA. But prescription glasses complete with frames you can get here for 20 dollars, only reason for the horribly high prices in USA is the monopoly one company has on the market there inflating the prices artificially. Maybe Canada or Mexico is good alternatives to get glasses from?
Thank you for letting me know this Rondo. Know I know specifically where im going to get my glasses when and if I need them :-) Norway will get my money, not those other thieving bas tards.
@Gary McMichael think you missed the part where regular eyeglasses are included in the price gouging. you'll need them one day. but right, millennial are the problem.
Wrong !!! The Smart ones would start a Music Festival and get Blink 182 as their HeadLiner and uummmm i don't know......maybe get PaRappa the Rapper to be Business Partners and Toast each other at Dinner Parties.
@@nomaan1978 sounds about right. I work at Visionworks and we do a BOGO for customers without insurance. An example would be $150 Ray Ban Frame $210 Single Vision Hi-Definition lenses $150 CSUV Complete non-glare coating $90 for Transitions Some of our best options you can get for glasses And you'd pay about $600 for 2 pairs +$30 for each pair if you wanted to add a warranty These are retail prices But obviously, the company can't make money if they're selling 2 pairs of glasses for the price of one So you can see it as "corporate greed", but when it comes to glasses, it makes sense. You wear glasses pretty much every day, most of the Time to see with them. You don't want a pair of glasses that will scratch easily, or not protect your eyes from light or the sun, or UV rays from computers/digital devices So I'd pay extra for those things. I just got a pair of $650 glasses for free because my insurance covers it But I think glasses are fairly priced for the most part.
A guy at the optical place in a Walmart told me that they’re basically two places that sell in mass production frames. Buyers for designers and companies will look at the frames they want slap their label on it and then Jack up the price. If I can find some off brand that looks just as nice as a frame that has a Nike swoop on it and it’s less expensive ..you better believe it that I’m going to take the less expensive one.
Walmart eyeglass prices are no bargain either. My prescription progressive lens eyeglasses cost me nearly three hundred dollars at Walmart 3-4 years ago. I wish I was aware of Zeno optical back then.
I live in Pakistan and I paid $3 for my eye test, $4 for my frame, $3 for the prescription glass. The guy said $2 for prescription glass made from glass, $3 for better quality unbreakable plastic glass, so I went for the better one. For a total of $10 I bought excellent quality glasses for myself, I quote excellent quality glasses. In the west labour is more expensive maybe $25 to $30 should be fair.
noor khan lol I was just escape I've worn glasses which I've bought from Lahore for 15 years now and just recently my eye sight has slightly improved. There's nothing with the quality that you get from Pakistan. They have the same manufacturing and eye testing machinery that you get from any other place in the world.
Lasik is not allways an option just like contacts that being said this video weirded me out abit those frames are horrible prices my titanium frame cost 200$ in Europe and well normaly i drool at American prices but this overpriced trash you can keep
This is what drives people to buy their glasses online. I used to buy my glasses from retail locations but got tired of paying the high premiums and found I could get comparable quality online for way less money.
@@abethepunk Thats why I stopped buying retail lol I use coastal.com and get glasses for under $100 usually. My old pairs from retail places used to cost $400 out of pocket sometimes.
Well, is it that wrong wanting to see stuff sharp, not get a headache and don't look or feel like an absolute idiot with it? I sometimes get a frame for 50€, sometimes i pay 200€. Most imortant for me is the feel and look, because, well, I want to wear the for at least 2 years for 16 hours each day straight. On the otherhand, I only buy cheap sunglasses for max 20€, because I do not wear the that often and see enough with standard glass.
+anticeon Buy 10$ Chinese fakes .. with amazing glass lenses, perfect frames, the packaging, cases and everything included .. it's a 1:1 copy literally .. the chinese have become insanely good with copying ... damn I was used to the 90's where the chinese knock offs were crap.. today they rival or are equal to the products them selves
***** Well-regulated capitalism trumps any other economic system on the planet. When there isn't a monopoly in a capitalist industry, it works out great.
I worked at an optical lab and the costs to make glasses was so cheap. The markup is unbelievable. I buy my sunglasses at Dollar Tree for $1.00. They look stylish, are durable enough. If they do break, or get too many scratches, I just buy another pair for $1.00. I'll never pay hundreds of dollars again for glasses. No way.
LOL you are full of it. I work in the eyewear industry and if you really worked in an optical lab 1. You would not be buying cheap glasses at Dollar tree because there is no comparison and 2. There are no $1 glasses. 3. if you really did work in a lab you had no clue which makes sense why you no longer do it. Even if you get a "cheap" pair you want to at least get polarized sunglass and you can get some at Walmart for like $40. I agree they are marked up really high but people do buy them so they must think it's worth it.
prescription lenses even with extra coatings like anti-reflective and scratch coat, are literally $1-2 per lens blank. we charge $80 for anti-reflective coating that costs the company literal pennies. we sell two pairs of cheap frames with basic lenses for $89. cost to make - less than $20. The store can pay all the employee's wages for an entire month off of one day of sales. and we get paid mcdonalds wages plus a tiny commission but only if the store meets its sales goals. the entire industry is a racket.
![Tee Grizzley - Blow for Blow (feat. J. Cole) [Official Video]](http://i.ytimg.com/vi/wNLN5xsx5dc/mqdefault.jpg)
The interviewer is asking damn good questions. She's good .
Hahahahahaha
Whats her name.??
She got her head handed to her. IMO
She is the best
Indeed.
I like how she's not afraid to just confront people and ask them directly and call them out on things.
Call them out on what? Being a super successful business? I think the correct term for that is complimenting.
@@supremelordoftheuniverse5449 are you kidding watch the video she even straight cut in on one guy and said you're not answering my question.
@@supremelordoftheuniverse5449 On being anti competetive
@@thedog5k ... and for price gouging, price fixing
I felt poor af for buying $12 cheap sunglasses at the mall but after seeing this video I feel 100% better.
+sleepybird09 Yeah 😕
Cheap diamonds are THE THING =)
me too ^_^
sleepybird09 nah he just drinks it straight from the toilet
You're still poor though.
8:03 I love that she called him out for not answering her question. I want to see more journalists go back to doing this!
This is bad.. people wont want to interview for their channel
I caught that too!!
@@deamondepicksaxe This is CBS's 60 minutes.
That Italian CEO sounded like the mafia when he was discussing the disagreement with Oakley.
Power corrupts, and absolute power corrupts absolutely, to use a worn out phrase. Monopolies are bad for consumers, we can clearly see this here
Cyborg Manticore
As I always say…
It's not that power corrupts.
It's that, only the corrupt will earnestly seek power over other people.
@@tubebility You could be right. But this begs the question: Who isn't corrupt?
Alot of pausing and thinking of how to phrase his answers.hmmmmm. i move her journalism. To the point and blunt!
tubebility
L
He's a very competent business man, and really knows what he's doing. The consumers' ignorance is bliss to him. He's not going to kill brand loyalty to tell people what's really going on, that would be absolutely mad.
Completely agree. Also immensely satisfying to see how he doesn't lose his cool after the repeated "attack" questions. No surprises for him.
lol, there's plenty of cheaper alternatives from, say, Chinese companies. Quality is pretty decent as well (just look at videos showing knock-off Ray-Bans and how similar they are). eBay helps.
I would agree if I wasn't literally blind without glasses. Severe myopia is debilitating without MEDICAL EQUIPMENT and just because glasses are easy to come across these days doesn't mean I should have to pay over 1000% of his production cost simply for the convenience. The point of this video is to show how a capitalist economy can fail when it goes unregulated. Although he certainly played by the rules, he's now changed the rules of the market so that ONLY he can win and that's not how one maintains economic growth in capitalism.
Satisfying? You know the top is getting slimmer and sharper for each year? I'm enraged! Though of course he should be proud of himself, he's doing the best he can in a system that barely has any rules nor enough informed players. But I fail to see how you can find his dominance over your kin satisfying.
Just buy some $30 aviators from walmart or better yet some fake raybans
from the internet. Nobody would be able to tell, let alone, give a
shit, anyway. I have walmart glasses and many people think they are name
brand. In the end, is all about who is wearing it. If you are good
looking, even cheap sunglasses, will look good on you.
Updates about Luxottica since this video is very old:
1) Luxottica has merged with Essilor; the largest lens manufacturer in the world
2) Luxottica up-charges an average of 500% on its lenses and frames (most industries only up charge around 100%-200%).
3) Luxottica now owns approximately 80% of the eyeglass industry.
If you want to avoid giving EssilorLuxottica money, shop at any place not mentioned in the video, AND ask what lab their lenses are made at. If they say Essilor/Meridian, then that’s Luxottica.
Thanks for the information, the glasses seems to cost more then gold.... I think Polaroid made more honest sunglasses ate reasonable price, its a alternative
Thank you
Thank you.
I stick with Maui Jim every time I can.
bro aliexpress
The smirk on the CEOs face throughout the entire interview says it all.
i was going to say that too
He is like, I have made a fool out of this world
That evil smirk
He looks like the love child of Steve Ballmer and Putin, but he definitely takes after Putin more. Heh.
He has a smug and slapable face
I really like this reporter. She's not a bitch and actually goes hard on these psychopaths, wish more reporters were like this.
rexes92 what makes you think he's a psychopath?
He has the evil genius smile is why lol
She's still a 10...
rexes92 Like one commenter said. Hes a bond villain.
So true lol, he and the Lens Crafters president got trolled
Wow, thank god he's not a politician. He would probably own the world.
Larry O I agree! But... Isn't Trump just as bad if not worse? People think Business men are more honest and efficient than career politicians just because they talk like us. We know the truth now...
Larry O At least he would be better than Trump lmao
I don't think so. Mr. Trump is an American patriot.
Glad I don't have to wear one!hehe...
LOL just read this that's funny
How is this not a monopoly? This isn't capitalism. This isn't a free market. It's a monopoly.
That is why it's not in America...
Tristan B But they operate businesses in America. They're subject to our laws to some degree.
***** What American based company has a monopoly?
krowanders Well, in germany it wouldn't be possible. The amount of restrictions to buy a brand is INSANE,
krowanders Technically speaking it is the perfect example of a global Oligopoly. When a single company controls the majority of the "free" market, that company can impose certain externalities that reverberate throughout the market and consequently effect the rest of the market. We as consumers usually only focus on the prices, but it effects much more than that. The big company also limits the scope of competitiveness within the market because of the almost hidden effects it has on the rest of the market. such as, driving up materials cost, shipping, research, store locals I.E. your local kiosk or store front. The main difference between an Oligopoly and a Monopoly is that in a Monopoly ONE company controls the entire market share. While holding an Oligopoly is not illegal it effects the consumer in ways we wouldn't otherwise notice. While an oligopoly has very similar characteristics it is not a Monopoly unless it controls the entire market share. Hope I didn't rant too long :)
"It's an American brand owned by Italians" I love the cockiness in his tone and facial expression when he said that lol
👍👍👍
Confidence
He even sounds evil.
To be fair on him, just about every US citizen claims to be Italian just because their great-great-great-uncle's friend was from Italy. You can't be willing to falsely claim that you're Italian and then have a fit just because an Italian company owns a US brand.
@Cool.Hand nah he is a genius you would understand if you had a business or a large shop or something like that. He started from a village shop to international metropol. We should learn from him !
I worked in a optometry office/sunglass store locally-owned. And I can tell you the actual cost is cheap and the owner made a lots of money. Even more on prescription lenses.
I have to wear varifocal lenses which are more expensive than single vision lenses. I was quoted nearly £700 for new glasses from an optician. I went elsewhere and had top of the range varifocal lenses inserted to an old frame for a third of that. Best decision ever made.
In the last year many firms have increased prices because government support for a lot of businesses during the pandemic was non existent, they're looking to recoup losses sustained during that time and its set off a vicious cycle which is now based on greed. What these businesses forget is that everyone was in the same boat. These rising prices will force those greedy businesses out because people can't afford to buy their goods or services
That Italian dude is like a mafia boss.
And you are acting like a gangster.
He's very slippery, like a politician.
Alberto. what?? uh no?
Why does people assume smart Italians are mafia?
I bet he is jesuit trained
Classic monopoly in the eyeglass industry. The CEO clearly states that people are willing to pay for the name of the brand even though he owns all of the former brands that used to compete against him. Basically he's giving an impression that YOU have a choice and that you're willing to pay lots of money for stupid plastic and some metal.
+Carlos Malave Companies like Maui Jim actually make the high price worth it. They have some solid frames that can bend and twist and form back to shape and not break.
Jeremy Howard In that case ,i understand that the Maui brand has quality already built in. On the other hand, other brands are a brand name with an Italian or French name that is made in China.
+Carlos Malave It's not stupid plastic and metal to me. I like ray ban and I own a couple. the prices are high, but not prohibitive. I'd like them to be cheaper, but now I understand why they're going for 100€ where I live.
Anyway, I love my ray ban, so I wouldn't consider buying a pair a bad decision, because I'm willing to pay that price for them.
As another guy already said, this guy just knows what he's doing and unfortunately there isn't any real competition in the market.
Kudos to him. Bad for the consumer. With that said, Im still rocking my aviators B-)
Manuel João Mr. Joao, the same reason Apple Co. makes a lot of money in overpriced iphones and other products-- made in China. I understand that you like your Ray-Ban; but you could've paid less if it Ray-Ban wasn't bought out by the big competitor and btw, instead of Italy, it's made in China for more profits.
Carlos Malave
I know, but the difference being in the hundreds of dollars between the 2 products. Ray ban "only" cost around 100€, even if they only cost 20€ to make or whatever. 100€ is very affordable if you really like/want them (like I do). Apple, on the hand, has a price tag of 500/600/700.
It's not even close. The scope is entirely different. Companies will always try to maximise their profits and margin. I know sunglasses could be a lot cheaper, but they could also be a lot more expensive (obviously when you see people willing to pay 400€ for a pair).
In the end, for non-essencial products you will ALWAYS pay what you think the item is worth to you. You know the price, you like the item, you decide to want the item, you accept the price. No one forced me to buy my ray bans, but I really wanted them.
Would be awesome if they were cheaper of course, but they're worth the price for me.
I've watched this report numerous times since it debuted years ago. It always fascinates me how the consumer (Americans in particular) have lost control of paying reasonable prices, instead of inflated prices for acetate and/or metal frames.
I refuse to buy sunglasses brand new. There are thousands of people who tire of their sunglasses or barely wear them and then want to get rid of them. You can get some pretty great deals that way. As for Ray Ban? I don't see what's all the fuss. The iconic aviator style is made by many other brands and frankly most of them are as good or superior in quality.
Its all about supply and demand. A high value is often times placed on expensive things. Couple that with a society that can afford it, and the government manipulating inflation on freaking everything, and its a perfect storm for overpriced stuff
I remembered when I was a kid and I went to a Korean American women optometrist. I told the Korean American women that her Optometrist place was cheap and she got mad insulted telling her friend that she did not like me for saying that. Now that I am older I still stand by what I said. All the glasses in the Korean American women's store were either made of cheap plastic and metals which were made in China. Those glasses do not cost a lot yet without insurance that Korean American women would charge nearly a $100 or more which was unnecessary. Lol sis got mad at me for telling the truth.
- so who's your competition?
- walmart...
One day Luxottica will even own my eyeballs.
Haha
Like Minority Report
Nope. Those are already owned by your government!
Just like blind mag in repo the generic opera
lol. they do already because your balls focus on that glasses.
"is an American brand... own by Italians" .. I lol'd
That was his only non bullshity answer.
Lol indeed.
mrinanis Well, a brand is air, it's whatever it's perceived as. So it can be perceived as "American". Same for Hamilton watches being owned by the Swatch group for example. 80% of "American" brands nowadays are made in China or Mexico. At least "Made in Italy" stands for quality. Plenty of Americans pay a premium to have the prestige of something "Made in Italy", or the quality of "Made in Germany". That's perception too, kind of like national branding. Something "Made in China" or "Made in Mexico" could be identical, but perception is different.
Heck I think I'm even guilty of it. I live in Italy and operate a shooting range. Being American/Canadian when it comes to guns is "cool" here and my Italian partner leverages the heck out of my nationality when selling us. It seems sometimes where I'm from is more important than the hundreds of hours of development put into the course. Just like a brand can make a $10 piece of plastic worth $300.
+mrinanis Just like dodge and jeep
+mrinanis Gun Heretics?
+mrinanis
*Americans create, design, invent and everyone else just buys them.* Sounds like what China's doing.
10:13 _They understood that life was better together_
A modest villian
glorious consumerism
I used to wear designer glasses when I was younger and now I just order cheap no name ones online. No difference. My ray bans broke after 4 years.
Raybans broke after 4 years. Cheap glasses break after a month. Some cheap glasses even have glass that fade. But I agree they are a bit overpriced
@@kjrayo18 The sunglasses I bought from eye buy direct broke after 4 years. Sunglasses that I had purchased from a drug store broke after a couple of months though.
I dislike my prescription ray bans so much. They keep sliding down my face :(
I didn’t even know they were ray Bans when I bought them. I wasn’t paying attention and I overpaid :(
4 years that's good.
Lmao 4years and you are complaining ? Did they break up on their own like sitting on a desk and suddendly they cracked ? Lol
Wow. Thank you for making the video. You are truly a great reporter that every jounalists should learn from.
+1
+1
Totally agree with you
If you take the ingredients of a cake and throw them together in the oven will you get a great cake at the end? If you don’t have a cook placing all the ingredients together in the correct order, at the exact temperature and selecting the finest ingredients… You won’t have a cake.
If the cook it’s a chef and apart from the great taste he decorates the cake. What is most valuable the ingredients or the craftsmanship?
What if that Chef is your countryman and you as the owner of the bakery respect his labor and pay him top dollar for it and still make a good profit.
Would you risk the quality of the cake to have it made in another country paying slave labors to a poor bastard that at the end won't be able to deliver the same quality?
Is that so hard to understand?
Ray-Ban’s today are made in Italy and are far better than the ones made before. Italians get top dollar for the craftsmanship and Americans get a great product that is not only fashionable in the many incarnations Luxottica makes but also it’s functional.
Americans must understand that “THE PRICE OF CHEAP PRICES IS GREATER THAN ANY FINANCIAL GAIN” and the suffering it promotes are endless.
If not ask Wal-Mart and the many American businesses that have send your jobs abroad to give you a few dollars in discounts at the mall for garbage of substandard quality…
This is the worst report I have ever seen in 60 minutes.
I say this placing on my face my freaking 400 USD sunglasses… Mmmmmmm they look so fucking fine… I hope that “Mario or Luigi” or whatever his fucking name is has enough money to send his kids to college and have them make me better freaking sunglasses in the future.
AMEN
Luxottica happy customer…
+eblgraphics
>A fool and his money are soon parted
I always lose or break the expensive sun glasses. But those $4 PUGGS I bought that one time at the gas station on that road trip will probably survive the apocalypse..
Matthew The Great Coin Roll Hunter shopping Murphy's law
Matthew The Great Coin Roll Hunter Ahaaaaaaa. Fun-nee.
Matthew The Great Coin Roll Hunter 😂😂😂😂
Just make sure they're 100% UV protectant, or they'll actually harm your eyes more than not using sunglasses.
For real
"everything is worth what people are ready to pay" well he's not wrong,at least he's smart and honest
ohhh my friend. Sun glasses is not a first need object. We can survive without them. Tell me... if its not worth it, why people keeps paying so much money for a product that makes no diference in their lives.
not nice calling him that. he is right, the guy is smart and evil. perfect monopoly. before i buy any pair i check if it is owned by lux first.
You should check before buying any Christian Dior, Michael Kors, Louis Vuitton... all them do exactly the same than Luxotica, they just sell ilusions.
Oliver B you have a choice. You can buy 10$ sunglasses at Walmart or other stores. They serve the same functionally.
Mone Sabri people will pay $100 for a roll of toilet paper if you lock them in the bathroom with none after they take a messy dump, doesnt mean toilet paper is worth $100/roll
Back in the 90's I worked in a factory that made the metal frames for glasses. The unit price the factory sold the frames for was 56p (70 cents).
well that would be just the manufacturing cost but even if you add marketing, logistics and sales cost there is no way they should cost $550
That explains why online spectacle companies are able to be profitable while offering stylish frames with lenses people want to wear. It vindicates my view that notwithstanding the overheads traditional opticians have to pay the mark up on a pair of glasses is off the scale
She said “thats a no”
😂😂 i kinda like how blunt she is
You can bet your life she didn't say it to his face.
Don't forget this video is heavily edited to make the journalist and program look good.
That poor guy just didn't want to get fired.
the ceo sounds like a supervillian.
+Tou Xiong He needs their fate.
+Tou Xiong Exactly
+Tou Xiong Like a Capo I would say... " we didnt buy Oakley, we didnt buy our competition, they just understood that life was better together" put that piece of interview with The Godfather music and match perfectly
+Tou Xiong cause he is, italians are mean people
+calito44 lots of baseball bats and tommyguns involved there, lol
With that 600$ you could visit my country, chill for five days, eat buffets everyday and then get the exact same glass with prescription lenses and still you had 100$ left.
Hope your country isn't too far away from USA for me to travel there; you're not a travel agent, are you? -- lol.
Lol where are you from Redwan?
Redwan Hossain Shovon that “country “ is a cardboard box under the highway
@@iggypopisgod9 how ilitrate you are!! You can live a very good life in 600 USDs in Bangladesh,Sri Lanka Pakistan and perhaps also in India.U seem to be ilitrate American
@@brownhermit1399 LOl. No. Just another guy who hates capitalism. :p
I can imagine the Mafia-like negotiations that took place when buying Oakley. "Nice sunglasses you got there. It'd be a shame if they disappeared from the market."
I stand with Oakley. They put a shitload of engineering into their eyewear and, in most cases, don't even need to (ANSI tests, etc.). I will always buy from Oakley online. Never stepped foot into Sunglass Hut.
@@suomik1988 no matter where u buy as long as they are from luxottica and not some store uncredited by them
@@suomik1988 Love Oakleys, all ill ever wear. They're far more than just a name
So funny Michael... we were thinking the same thing. You said it well 🤣
@@JudithRose1992 😂😂😂and sad at the same time.
She is so blunt I love it😭
She is brilliant i want to see more of her work , anyone knows her name?
@@TheEdvinas694 Leslie Stahl.
No company should have complete monopoly over any industry
Thank you, Lesley Stahl. I haven't been able to buy glasses for two years. Now I know why glasses are so expensive. Thank you for exposing the deceptive truth behind Luxottica.
Lesley is just the host. She didn't write the story or produce the episode
The interviewer is damn good. She’s putting the companies in their place and keeping them from dodging questions.
I just bought new glasses at Costco for $178. The SAME EXACT glasses elsewhere got priced out at $538. Not a joke. Same frame, same lenses, same coatings. Costco and Walmart both told Luxottica where to shove their price fixing.
Well, let's not hoist up Walmart on our shoulders just yet. Remember, they are an unapologetic, evil corporation who drives out any (if possible all) competition in the superstores vicinity. I will even go ahead and make the bold claim that Walmart did not merge with Luxottica simply over unethical price fixing, but rather because Walmart prefers to take the full profit of all optical product sales and rather not share the companies earnings with a fellow mega corporation, like Luxottica.
Ive worked for Luxottica (Sunglass Hut) for 4 years. Extremely toxic work culture. They raise the prices anywhere from $1-$30 on each pair of glasses every single year now. The employees get 30% off as their discount (which is nothing for a $400k-$500 pair of glasses) and about 2 times a year they get 50% off. Part time sales Associates are left alone in the store for hours expected to run the store by themselves. They laid off Regional Managers during Covid leaving other regional managers to manage hundreds (literally hundreds) of stores so now everything is slipping through the cracks. With that said the glasses are good quality, and I highly recommend everyone gets a nice pair of glasses to protect your eyes- the drug store $1 pair doesn’t cut it. Luxottica owns EVERYTHING, they make SO much money yet the company culture is TRASH. I would NEVER recommend ANYONE to work for them.
It's called a monopoly! And when I watched the full report on this Luxotica owner smirks when asked why they are so expensive....translated I do because I can!
D DuBos - Monopolies are illegal in the US but corporations have taken over or government and have said, "just try it and we'll bury you."
He's the Italian version of Donald Trump. It's not exactly the most productive country in the world and surely not known for much other than tourism and maybe food but Italy has found a way to get even with the USA.
I applaud this lady for spilling the beans.
What beans? That a company knows how to efficiently manage multiple businesses around the world and meet consumer demand? Wow, what a dark secret.
+mythirdaye When a business deceives its people and puts an impression to make it seem like multiple companies, it kind of is a secret. This company is basically running a ponzi scheme. They have their own insurance which it sells and allows you to buy their subsidized products on a loan from their own credit card company. I see you're point that most of the people who fall into this are sheep. None the less, it is still something that is unaware of.
+mythirdaye its actually illegal in most nations and not only promotes oppressive production (slave labor) but high corruption (buying politicians, etc) and THEM choosing who makes it in the industry instead of the consumer...its communism capitalized...
+cicada This is not a Ponzi scheme, Ponzi scheme are targeted at investors, making them believe you are making tons of cash and that you will share it with them, except that there is no such money.
All money here is real, it is from the consumer, he pays for the credit, pays for the insurance and pays for the glasses with hard earned cash, and he gets what he paid for, the only thing is that the price tag is high because there is little competition.
+gubx42 you are right in your definition of ponzi but wrong in your excusing of this company. There is not little competition, there is no competition. It is an internationally illegal company but since its a cartel monopoly with the brands of the most exclusive companies reputations on the line, nobody does anything. Its weird to me why youre defending them when you obviously dont know anything about it
I got 2 prescription eyeglasses online for $30. I was worried that they would be a waste of money but I love them and they fit great. Firmoo is good and cheap.
they're expensive because ppl will pay the ignorant price you're asking.
Because they NEED them. There're fucking glasses for gods sake
Only some people only need prescription glasses.. the rest of the people blowing their money on sun glasses are fools.
Brian Worden yea
People don't NEED Ray-Bans
Dude, I needed glasses for my view and the Ray-Ban was the cheapest!! still more than $100 but still the cheapest!! It's not like I had a big choice!
The ending of the video is where I felt more could have been said about the lens industry. The choices cripple the customer to buy the latest and the greatest. The frames last a good couple of years (5 or even 10 if you keep them really well). The lens business is brutal, one cannot re-purpose the lens already made and the advertised technology keeps getting better.
That Italian is trying so hard at not busting out laughing 😂he just wants to say "MONOPOLY AHAHAHAHAHAHAHAH"
Hilarious!
The mob has moved into legit business
@@kirbyfitzgerald4636 hahaha
Not Monopoly, Organized ( MAFIA ) crime at & elite level ; they own every eyewear outlet & every vision clinic & you can add in the 2 largest EyeMed insurance provider in the world !!! Think about it !
🤣🤣🤣🤣
Thank God they don't make Condoms...
Glaive Nestor or do they.?
Don't give them any more ideas, the last thing we need is a chanel logo on a condom... sounds brutally painful.
search louis vuitton condoms. priced at $68 each
What about leather condoms ? Sounds pretty hot to me
I'm not sure why, but that guy comes off as so fucking evil/shady. Like all he's missing is the pencil-mustache to twirl.
I mean, half the time when answering her questions it looks like it's taking all the will power he can muster just to hold himself back from bursting out in triumphant evil laughter.
Lol well said. In their defense though, Leslie Stahl is a boorish and uncouth reporter. If Luxottica were American she'd be waving the flag and cheering for them. Hell she'd flirt with that CEO if he was American!
surbon514 The thing is monopolies can exist in a free market, but if they go to far, someone will come in and undercut them. You can't get them into stores, setup your own stores. Set them up in other stores not beholden to them. Make long term contracts with them. It's kind of funny when she brings up if they sell other brands in their store, it's like going to a Mercedes dealership then asking why they don't have any Kia's for sale and why they don't offer new Kia's.
He actually looks like he doesn't give a shit in all honesty. And why would he? People can be shocked at this but the next time they want to blow a couple of hundred bucks on a pair of shades they'll still get a pair of Ray Ban's or Oakley's because of brand culture. Nothing will change as a result of this news piece, well made and informative as it is.
Wow. Monopoly. Were is the EU now when they were complaining about microsofts monopoly.
Jaime M Strange, isn't it?
Jaime M yeah my thouhts exactly.. althougt these are all american shops, then dont have nearly as much dominance as in US
still they should be invrstigated
Jaime M its all about who can pay the most. In any government, decisions are made not according to whats best for the people, but what brings in the most 'donations' from big corporations.
Jaime M exactly. It's a hidden monopoly. Going to find away around this company asap.
The reason to fine Google for its market dominance in the EU could be used to fine these guys for sure. The fact they own so much of the vertical market in eye wear and their tactic of crowding out the competition such as Oakley is a clear example of why they are so evil.
This sort of market dominance would like if Apple owned Verizon in America. You think they would offer a fair price to it's so called customers? Do you think they would want to offer a good experience for its Android users? Do you think they would even sell Android phones in their retail store? Do you think Apple would want to develop Android security patches to the Android phones that were in its network?!? Hahaha!!!!!
I forgot to mention that in this scenario, Apple also owns AT&T, T-Mobile, and Sprint, Cisco, Comcast, Cox, and Frontier.
10 years later nothing has changed, it’s only gotten more expensive.
Luxottica dude will beat any poker player in vegas with that face.
he can beat Doyle while wearing luxottica spectacles :)
Ya
Face cold as ice
Dude is a mastermind creepy man. Let's be glad he's not a military dictator
Loll
At least not yet?
I wouldn't be surprised if he's in the mafia family.
He would cut his own Mother’s throat; and then justify it.😳😳😡😡
Mitzie Ransom
Or owner of a big pharma
Just got my prescription today...hope Costco or Walmart never sells out to Luxotica...that snake is trying so hard to sound innocent.
You can bet that Luxocitca is working that angle every day trying to take over their optics sections by buying their companies or squeezing their supply of products.
Sears and Target opticals are owned by luxotica already.
That guy just needs to be petting a bald cat and his world domination will be complete.
I love this lady
"Do people REALLY wear these?"
*comparing glasses* mmm they're pretty similar
"Since Lucottica owns you..."
" MARK, you're NOT answering my question"
12:38 "They're not too expensive" ARE YOU FUCKING KIDDING ME!?!?!?!? That Blue plastic SHITTT costs $400?!?!?
+Maaz Sharief (Maazypaaz) DONT BE LOOKING AT CHANEL SHIT IN THE FIRST PLACE IF YOU CANT AFFORD IT DUMBASS REPORTER. THEY DONT SWIPE YOUR CARD FOR YOU STOP COMPLAININGGGG
+justin branch It seems you are not aware that the optical quality of those glasses is shit too. They claim their lenses are of higher quality but plastic is plastic. Moreover their lens coating sucks and gets easily scratched.
I had $300 RayBan and $40 Reebok Aviators, both looked similar and both had plastic lenses. Both got scratched easily.
In comparison, I bought IDEE Polarized glasses for $20 and they lasted longer than more expensive ones and had better lenses too.
My experience doesn't mean that RayBan suck. But if somebody did lens comparisons between Luxottica brands and other cheap Chinese brands, I bet both would have similar optical quality.
And if people just want to spend money on BRAND STICKERS, I have no problem with that. Its their money.
This CEO guy is a freaking genius. And he knows that.
"Everything is worth whatever people are willing to pay" This cat is awesome!
He's 100% correct. The market sets the price. Less expensive alternatives are available. More expensive alternatives are available as well. People will pay what they believe the product to be worth.
I got a pair of glasses last week.
My insurance paid for it.
I asked which ones does my insurance pay for and they pointed me to the wall of $69 frames.
Most of them looked pretty nice.
I got a really cute pair and I totally love them.
They are quite sturdy and well made.
Not just some plain looking bargain basement looking frame.
Actually when I went to pick them up a few days later the frame that I got looked nicer than the showroom pair. Those had probably been handled by hundreds of people by the time I looked at them.
When I was waiting for my eye exam I looked around in the place and a lot of the fancy 'designer' frames were quite frankly just absolutely heidious.
Not to even get into the ridiculous cost.
@S. you do have a choice, just don't buy the glasses. Simple. Want a cheaper pair? There are some out there that cost $20. It may not say Ray-Ban on the side, but itll give you the same shade as the other glasses.
That is why he is the CEO.
The Luxottica boss is soooo shadyyy. Like, just answer the questions straightly. You were the one who agreed for the interview in the first place 😒
agreeing with the interview doesn't refer to answering questions and getting slapped by the questions. Sometimes, it's meant to answer the questions like this to make an illusion of how it really works, so that people would argue and even get to know what the brand really is for some. It's marketing.
It was a legit question that did not need dodging. What kind of person are you? Obviously not the straight forward type LOL!
Luxottica is doing nothing wrong. People buy these expensive glasses BECAUSE they are expensive. If Ray-Bans were $20, you would see a lot less people wearing them. Quality doesn't matter to most people wearing $300 sunglasses.
Sadly, function has turned into a fashion statement nowadays that there is no function at all except to look like a hundred bucks. And don't forget them $300 plastic headphones!
+RetroGuy76 I remember them too. Beautiful stuff. I loved the tiny 'BL' embossed on the side edge of the lenses.
idiots
+Jack Casey im not sure if i agree or not i collect sunglasses. I havent come across a good pair of cheap sunglasses in a very long time.
john smith what are you talking about?
Everything is worth what people are willing to Pay.
That's all the economics one needs to know.
what even is bait and switch, advertising manipulation, coercion, market elasticity, price gauging, collusion, etc....
I sell 'em for for more than I pay for 'em.....
@@CBielski87 Those things are for the consumer to look out for. We are supposed to do our research, know what we're buying, and use the information to make smart purchases. Any "gotcha" by a company is on you as a consumer for buying in haste.
The fact is sunglasses have always cost this much. RayBans, for example, were around $50-60USD in the 80s. Adjust for inflation and you have around the same price. Not everything is a big conspiracy to control your wallet.
39dollarglasses.com
Aditya Morey exactly this
really good interviewer asked all the hard questions and ain’t let anyone slide
This is the most authentic interview I have ever seen.
Love love love Lesley♥️and love love love Luxottica♥️as a proud collector of their product I would say that it’s totally worth the price. Especially why they did for Chanel in the early 00s…my favorite pair of 5076-H from 2005 are still in greatest of shapes and makes me happy more than any other pair in my collection🤗♥️
I'd model a Pixar villain after that CEO
+fv make it a mafioso!
10 years ago people were fooled to pay these exorbitant prices.
Today they feel proud to be ripped off and will shame you for not partaking in it.
One thing is not having a choice. Another is to do it out of sheer ostentation.
So long story short Luxottica has a massive monopoly over glasses so they raise up the prices as high as they want since there is no competition
Exactly! And the eye stores that sell them put their extra charge in as well. SMH. I'm never going back after finding online choices.
EstablishedHeritage Yeah. Online shopping has loosened their power a bit.
Basically yes and we are stupid enough to overpay.
Same sh different day!All companies do this .
thanks captain
Adam ruins everything told me why glasses cost so much
Love the excuses that they make in order to mark up these prices. But like the guy said they price it so high because these sheeple buy it for "fashion" or because it's trendy
The same as these high priced cell phones and computers ... especially the cell phones.
Adam to be fair I was in an Oakley store earlier today and bought a pair of M2 for like $90 bucks customized and all and there was a table full of $50 dollar ones. .. Not bad for a pair considering I've paid much more for prescription glasses and sun glasses ( $600+)
Mark Keller The same with absolutely everything else that exists out there in the market. The seller will always sell for as high as he can and the buyer will always buy for as low as he can. The middle ground where they find each other is what we call "prices".
Thanks. The frames are so good, I am recycling mine. Been wearing glasses since 1975.
Who is this lady? I like her
Leslie Stahl!
She is on a US television showed called 60 Minutes.
Really, she's been an investigative reporter for 40 years. Welcome to the daylight, sleepy.
@@JS-ep3sv 😂🤣😂
11:29 For those who don't make it that far, you don't wanna miss this part: Luxottica also owns the "2nd largest vision care plan" in the nation.
Because of course they do.
that Luxottica guy is so creepy
reminds of the guest host in the movie 'Hostel'
I suppose "creepy" is in the eye of the beholder..he didn't seem that creepy to me.
Pewdiepie once mentioned that whenever he meet a CEO of a company he feels like there isn't any soul in them. Maybe that was what you r feeling?
Yep, they sell their soul in exchange for riches and power for approximately 80 years in this life, and forget that eternity is waiting.
He's just very intelligent, doing a tricky Interview, he was just smugging because he "turned the table around" and knew the interview was a success, most other CEO would have stormed out of the room...
I dont care about ANY of the words that are coming out of their mouths. Those glasses are not worth that much and SHOULDNT cost that much....PERIOD.
I'll bet a limp it cost like $10 to make most of the glasses they sell close to $200.
@ONE NASTY QUESTION MARK , You are correct. It WOULDNT be just one pair, that i could afford. I can afford SEVERAL....but theyll NEVER get my money because i dont need them and dont WANT them. And now that I know theyre doing this, if i SHOULD happen to need them one day, id figure out a way to get a pair thats not through THEM. I will literally go out of my way to make sure THEY dont get my money. Even if the whole process costs me more than i would have paid THEM.
Here in Norway everything cost 3-5 times more then in USA. But prescription glasses complete with frames you can get here for 20 dollars, only reason for the horribly high prices in USA is the monopoly one company has on the market there inflating the prices artificially. Maybe Canada or Mexico is good alternatives to get glasses from?
Thank you for letting me know this Rondo. Know I know specifically where im going to get my glasses when and if I need them :-) Norway will get my money, not those other thieving bas tards.
Let me guess, you posted this on your smartphone? Iphone perhaps?
Consumers ask for it. Their prices are high and they buy it anyway.
"They are not too expensive."
Right, and the devil will give you back your soul.
Don't buy it.
Do Italians still think American streets are paved with gold.
Ray Ban Wayfarers cost $40 in the 1980’s. The exact same pair costs $160 today. Helluva markup.
Granted, $40 in 1985 is equivalent to $101 today.
This CEO looks like Dr. Evil, I bet he does "the little finger to mouth" thing in his executive committee reunions.
+Ryim arwa Thank God he quit
+Ryim arwa i would say, he does look "sleazy". He knows his company is evil lol
“Everything is worth what people are ready to pay.” Sums it all up.
You can bet it doesn't even cost "$30" to make them either. I need to win the lottery and start my own eye-wear company.
Which cost more, the Lens or Frames ? The entire Enchilada!
@Gary McMichael think you missed the part where regular eyeglasses are included in the price gouging. you'll need them one day. but right, millennial are the problem.
@Gary McMichael do you wear prescription glasses ? I didn't think so. go away if you have nothing intelligent to say.
Surprise surprise.....we’re being ripped off again. Sorry but if you’re spending $450 on sunnies, you’ve got more money than sense.
It's "more dollars than sense" it's a pun.
Frankly if you’re paying more than a hundred you’re paying for the marketing. It’s simply a suckers game
@@Ab-mz2k Yep, I got my wife's glasses for around $25 and another pair that turn into sunglass in the light and those were around $65.
@@xxshevilxx What were they? (I need a new pair of sunnies)
@@JohnHansenBeadle Just go to zenni.com
That's hard hitting journalism right there. Won't see that today.
Dumb consumers will buy their products. Smart ones will buy their stock.
except the stock prices are as high as the glasses price
I guess Im one of the dumb ones, I just bought 2 prescription transitions Raybans for $630 total.
Wrong !!! The Smart ones would start a Music Festival and get Blink 182 as their HeadLiner and uummmm i don't know......maybe get PaRappa the Rapper to be Business Partners and Toast each other at Dinner Parties.
@@nomaan1978 Do you not have insurance? I got RayBan glasses and paid nothing for the frames.
@@nomaan1978 sounds about right. I work at Visionworks and we do a BOGO for customers without insurance. An example would be
$150 Ray Ban Frame
$210 Single Vision Hi-Definition lenses
$150 CSUV Complete non-glare coating
$90 for Transitions
Some of our best options you can get for glasses
And you'd pay about $600 for 2 pairs
+$30 for each pair if you wanted to add a warranty
These are retail prices
But obviously, the company can't make money if they're selling 2 pairs of glasses for the price of one
So you can see it as "corporate greed", but when it comes to glasses, it makes sense. You wear glasses pretty much every day, most of the Time to see with them. You don't want a pair of glasses that will scratch easily, or not protect your eyes from light or the sun, or UV rays from computers/digital devices
So I'd pay extra for those things. I just got a pair of $650 glasses for free because my insurance covers it
But I think glasses are fairly priced for the most part.
A guy at the optical place in a Walmart told me that they’re basically two places that sell in mass production frames. Buyers for designers and companies will look at the frames they want slap their label on it and then Jack up the price. If I can find some off brand that looks just as nice as a frame that has a Nike swoop on it and it’s less expensive ..you better believe it that I’m going to take the less expensive one.
" To China, India, Brazil _and_ *above all, America* " Wtf? Hahahah
Huzufu I hope to assume they mean largest quantity.
reddaB But population of China India and Brazil is more than America
SVJ 007 Yeh but I mean maybe they sell the largest export quantity to u.s.a or something.
Huzufu Well she is hosting an American show
if anything cost more than 50 dollars in China , we buy it abroad.
The guy of Luxottica is very weird ! He look's like he hide something a big secret of this companies !
MOUHTADI dudes creepy af
He is part of the Illuminati
He looks sinister.
his manliness is qeustionable. ibought a ray ban for manliness refutation
400$ and salesgirl is like "Its not expensive" and I'mma here like, "girl you've lost your mind".
6:50 Epic LOL!!!! I love it!!!! That's a fucking CEO!!!! Genius!!!!
An American brand owned by Italians. What's wrong with it? haha
Reminds me of how nestle CEO wanted to own all the water.
It is an American brand, own by Italians
Like another Italian brand Lamborghini, owned by germans. What's your point?
😂😂
internet drone it's a business not a brand
Walmart eyeglass prices are no bargain either. My prescription progressive lens eyeglasses cost me nearly three hundred dollars at Walmart 3-4 years ago. I wish I was aware of Zeno optical back then.
I live in Pakistan and I paid $3 for my eye test, $4 for my frame, $3 for the prescription glass. The guy said $2 for prescription glass made from glass, $3 for better quality unbreakable plastic glass, so I went for the better one. For a total of $10 I bought excellent quality glasses for myself, I quote excellent quality glasses. In the west labour is more expensive maybe $25 to $30 should be fair.
Uzeyr Hassan
well in America there's a lot of people not smarter than a 5th Grader.
@Selvyn Quijada
Wow, do you include yourself in that statement?
that's damage eye sight man
noor khan lol I was just escape I've worn glasses which I've bought from Lahore for 15 years now and just recently my eye sight has slightly improved. There's nothing with the quality that you get from Pakistan. They have the same manufacturing and eye testing machinery that you get from any other place in the world.
here in Italy it's expensive and in Pakistan it's cheap I buy Oakley fuel cell sunglasses it's worth 35 thausands Pkr
Thanks for the video, real eye opener.
Ya. I would of never guessed designer sunglasses where expensive......
Lasik eye surgery is $500 vs eyeglasses $400. 🤔👓
Tampatec damn is it that cheap now? In the US?
Mine was 4,000. :/
Tampatec
$400.00 lasik !
Where Detroit?
Tampatec 4500$
Lasik is not allways an option just like contacts that being said this video weirded me out abit those frames are horrible prices my titanium frame cost 200$ in Europe and well normaly i drool at American prices but this overpriced trash you can keep
He summed it up himself,
"everything is worth what people are ready to pay"
You, the consumer, sets the price.
Who else wants to punch the boss villain?
Me
Eye-talins, am I right? (Not being racist; I'm part Italian.)
People with serious issues.
This is what drives people to buy their glasses online. I used to buy my glasses from retail locations but got tired of paying the high premiums and found I could get comparable quality online for way less money.
Have you tried Costco? Transition lenses are cool.
@@sophieca6906 No I haven't. I've always done Zenni online and had good luck with single vision (non-bifocal) prescription lenses.
Ray bans cost 4.95 a piece to make....let that sink in...
GLASSES ARE SO EXPENSIVE FOR ONE REASON AND ONE REASON ONLY ........... PEOPLE ARE STUPID ENOUGH TO PAY THAT PRICE FOR THEM AND THEY LOVE DOING SO.
Also people like to be able to see.
My rx costs 250-300 alone.
@@abethepunk Thats why I stopped buying retail lol I use coastal.com and get glasses for under $100 usually. My old pairs from retail places used to cost $400 out of pocket sometimes.
Well, is it that wrong wanting to see stuff sharp, not get a headache and don't look or feel like an absolute idiot with it?
I sometimes get a frame for 50€, sometimes i pay 200€. Most imortant for me is the feel and look, because, well, I want to wear the for at least 2 years for 16 hours each day straight.
On the otherhand, I only buy cheap sunglasses for max 20€, because I do not wear the that often and see enough with standard glass.
@@TigerTT My rx is -19, so I have to get high index.
I use $2 chineese eyewear. replace it every 6 month . worth it.
same lol. buy frames from China. even knock offs
+anticeon I use a pair of ray bans that cost 85 bucks... 15 years ago!
TheOzzization inflation
+anticeon $1 for mine. Look good and even have a slight correction in the lenses for driving. I've worn them for years. No problems.
+anticeon Buy 10$ Chinese fakes .. with amazing glass lenses, perfect frames, the packaging, cases and everything included .. it's a 1:1 copy literally .. the chinese have become insanely good with copying ... damn I was used to the 90's where the chinese knock offs were crap.. today they rival or are equal to the products them selves
It's a f****ing piece of plastic!
Its Capitalism
Then don't buy them! Buy cheap frames!
***** Well-regulated capitalism trumps any other economic system on the planet. When there isn't a monopoly in a capitalist industry, it works out great.
Its made of high quality that will last for a couple of years if you use it carefully.........its not just plastic its the feeling of owning one
TheAlmightyApe The problem is, capitalism encourages monopolies and exploitation more than any other system in the world.
The smirk on his face is the typical Italian smirk: "I am selling you some overpriced garbage and you are even happy for it."
I WILL NEVER BUY ANOTHER RAY-BAN
same
Chad i will
But they own all your other options though. Jokes on you
that dude is so obnoxious
LEGO also has a story bra... check it out... why so expensive?
Pradeep Chand SEKAR LEGO doesn’t have a monopoly. They have excellent engineering and marketing
he's telling you how it is.. very sorry if you if he hurt your feelings do you want a cookie.
You r so Antisemitic!
I worked at an optical lab and the costs to make glasses was so cheap. The markup is unbelievable. I buy my sunglasses at Dollar Tree for $1.00. They look stylish, are durable enough. If they do break, or get too many scratches, I just buy another pair for $1.00. I'll never pay hundreds of dollars again for glasses. No way.
LOL you are full of it. I work in the eyewear industry and if you really worked in an optical lab 1. You would not be buying cheap glasses at Dollar tree because there is no comparison and 2. There are no $1 glasses. 3. if you really did work in a lab you had no clue which makes sense why you no longer do it. Even if you get a "cheap" pair you want to at least get polarized sunglass and you can get some at Walmart for like $40. I agree they are marked up really high but people do buy them so they must think it's worth it.
How bout prescription glasses
@@osirusj275 don't need 'em anymore. I had laser surgery.
@@osirusj275 now you can get prescription glasses online for cheap and even cheaper if you order from abroad from a well-known Chinese marketplace.
prescription lenses even with extra coatings like anti-reflective and scratch coat, are literally $1-2 per lens blank. we charge $80 for anti-reflective coating that costs the company literal pennies. we sell two pairs of cheap frames with basic lenses for $89. cost to make - less than $20.
The store can pay all the employee's wages for an entire month off of one day of sales. and we get paid mcdonalds wages plus a tiny commission but only if the store meets its sales goals.
the entire industry is a racket.