![]() Billions of dollars influenced by one company The merger of Essilor and Luxottica also stopped the two companies from competing with each other in their previous core businesses - Luxottica in making frames, and Essilor in making lenses.Įuropean Union regulators approved the merger on a similar principle. Despite receiving complaints that there could be negative effects on competition, the deal was deemed OK because essentially, each company primarily operated in related, but not directly competitive fields - the lenses versus the frames. They also own or license many other eyewear brands, including Prada, Oakley, Armani or Tiffany and Co.Įssentially, the company tries to own a piece of everything to do with a pair of glasses. The combined company now owns or controls many of the popular names in eyeglasses that Canadians know and shop from, including LensCrafters, Sunglasses Hut, and Pearle Vision. Essilor and Luxottica to merge and create world's biggest eyewear firm. ![]() The company also owns many of the retailers that sell to Canadians, and even runs an American insurance company that pays out vision benefits. It makes everything from the lenses to the frames in a pair of glasses. The answer to these high costs, in part, may be due to the market dominance of a single player.ĮssilorLuxottica is a single company that reported more than $27 billion in revenue for 2019. Prescription eyeglasses can range anywhere from $240 to about $1,000 a pair in Canada, according to the Canadian Journal of Ophthalmology. We also repeat the following Tuesday at 11:30 a.m. Catch us Sundays on CBC Radio One at 12:00 p.m. The Cost of Living ❤s money - how it makes (or breaks) us.20, 2020.Ī global eyewear giant could be one of the reasons that eyewear is so expensive for consumers in North America.Īs part of a series answering listener questions, CBC Radio's The Cost of Living took a closer look at the cost of sight for Canadians and why it can be pricey. This story was originally published on Sept.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |