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(CBS News)   In a risky business move, the founder of Luxottica sits down for an interview with 60 Minutes. This headline would be funnier, but they vertically integrated comedy, so it doesn't need to be   (cbsnews.com) divider line 43
    More: Obvious, Luxottica, Lesley Stahl, Burberry  
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2066 clicks; posted to Business » on 09 Oct 2012 at 1:28 PM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2012-10-09 11:15:48 AM
When I found out Luxottica was buying Ray Ban I went and bought up every pair of aesthetically pleasing Ray Bans I could get. Sure, that was only like 5 or something, but I will have real B&L glasses till I die and never be stuck with crap-ass Italian knockoffs.

/so long as my taste doesn't change...
 
2012-10-09 01:33:43 PM
That is such a stripper name.
 
2012-10-09 01:45:03 PM
Who pays hundreds of dollars for glasses?
 
2012-10-09 01:46:48 PM

Vegan Meat Popsicle: Who pays hundreds of dollars for glasses?


Yeah I don't get it.

If you are paying that much, surely you knew it was just for the label.
 
2012-10-09 02:03:34 PM

Vegan Meat Popsicle: Who pays hundreds of dollars for glasses?


People who go to LensCrafters, or Pearle Vision, apparently. 

They're not as big of a share of the market as you'd think for eyeglasses, even though they're the biggest (Link) but what they did to Oakley sounds pretty awful. Kinda surprised the EU or FTC hasn't investigated. They're the second vision products company that I know of that also owns a vision insurance company. Cannot fathom why insurance costs are so high...
 
2012-10-09 02:03:51 PM
upload.wikimedia.org

"I did what, now?"
 
2012-10-09 02:13:22 PM

mesmer242: Vegan Meat Popsicle: Who pays hundreds of dollars for glasses?

People who go to LensCrafters, or Pearle Vision, apparently. 

They're not as big of a share of the market as you'd think for eyeglasses, even though they're the biggest (Link) but what they did to Oakley sounds pretty awful. Kinda surprised the EU or FTC hasn't investigated. They're the second vision products company that I know of that also owns a vision insurance company. Cannot fathom why insurance costs are so high...


I didn't go to A big chain for my last pair of glasses I went to a private optician. Even after my insurance coverage for exam, frame and lens benefit I was still on the hook for about 550 bucks. Now I know why.
 
2012-10-09 02:18:59 PM
zennioptical.com. Just bought 2 pairs of prescription glasses with anti-scratch/glare coatings for $35 a piece. They even have a virtual tryon where you upload a picture of your face, put in your pupillary distance and click on your irises so the software can get a sense of scale, and just like that you can see what the frames would look like on your ugly mug.
 
2012-10-09 02:23:19 PM
All I could think of when I watched it was this-

cdn2.sbnation.com
 
2012-10-09 02:25:52 PM
The mark-up on eye glasses is ridiculous, and it's difficult to do price shopping when nearly every main brand of glasses is owned by the same company...

Luxottica Group brands:

Arnette
ESS
K&L Eyewear
Luxottica
Mosley Tribes
Oakley
Oliver Peoples
Persol
Ray-Ban
Revo
Steroflex
Vogue
Anne Klein
Brooks Brothers
Bvlgari
Burberry
Chanel
Chaps
Coach
Fox
Dolce & Gabbana
DKNY
Donna Karan
Miu Miu
Polo
Paul Smith
Prada
Ralph Lauren
Ralph
Reed Krakoff
Stella McCartney
Tiffany & Co.
Tory Burch
Versace

Retail stores:
LensCrafters
Pearle Vision
Sears Optical
Target Optical
Sunglass Hut
Oakley
Other small ones
 
2012-10-09 02:57:27 PM
www.zennioptical.com
 
2012-10-09 03:01:47 PM

CoonAce: www.zennioptical.com


Shout it from the rafters!
 
2012-10-09 03:09:05 PM

Tanukis_Parachute: All I could think of when I watched it was this-

[cdn2.sbnation.com image 480x360]


Took about 5 seconds of him talking for me to think of that too.

"Why would you say that? I didn't say that."
 
2012-10-09 03:09:56 PM
They have monopoly on overprice branded eyeglasses. Who gives a shiat... You can still buy cheap glasses or knockoffs anywhere.

Now, De Beers, on the other hands.
 
2012-10-09 03:21:05 PM

WxGuy1: The mark-up on eye glasses is ridiculous, and it's difficult to do price shopping when nearly every main brand of glasses is owned by the same company...

Luxottica Group brands:

Arnette



I just bought a pair of those 6 months ago. I wear them for fishing because the polarized optics are really good, and the fact that everyone around here wears Costa Del Mar, they were different. But are they $295.00 really good? No.

But now that I saw that 60mins expose, I doubt I'll be buying another pair. Back to Smiths or Costas.
 
2012-10-09 03:26:39 PM

Masso: They have monopoly on overprice branded eyeglasses. Who gives a shiat... You can still buy cheap glasses or knockoffs anywhere.


Pretty much this.  Who cares of they're overpricing their goods?  Luxury brands do this for pretty much everything.
 
You can still get dirt-cheap glasses that work all the same.

 
 
2012-10-09 03:54:00 PM

HotWingConspiracy: Vegan Meat Popsicle: Who pays hundreds of dollars for glasses?

Yeah I don't get it.

If you are paying that much, surely you knew it was just for the label.


My sister buys a new pair of Sunglass every year, the newsest fashion by the hottest designer at the time. They run her at least $500 and it's not because she loses them or they break, it's because her benefits cover her up to $450 every year. She's been doing this for a long time and has quite the collection. I remind her she's a terrible human being when I notice the most recent purchase.

I hate the markup on sunglasses/glasses. It's robbery.
 
2012-10-09 04:19:28 PM
In 1995 I bought a pair of glasses. Unbreakable titanium frames, photo-greys, bifocals, with air-injected hardened glass because I wear them at work and don't want scratches, but want the protection of glass. They cost me $400. In 2011, I needed new glasses. The frames were still good, if out of style, so I ordered glass bi-focal, photo-greys. Cost without frames, $475.

/come-ON free market, you bastard!
 
2012-10-09 04:30:56 PM
This is why I'm glad my brother is an optometrist...
 
2012-10-09 04:47:16 PM
UNAUTHORIZED FINGER:/come-ON free market, you bastard!

It only works if you shop around.
 
2012-10-09 04:54:23 PM
Saw this piece. Where's Bain Capital when you need them for some slash and burn. I guess anti-trust laws don't extend to foreign companies operating in the US. That Oakley part was f'd up, too.
 
2012-10-09 05:02:58 PM

Chagrin: UNAUTHORIZED FINGER:/come-ON free market, you bastard!

It only works if you shop around.


Shop around where? To all the monopolized Luxottica branded stores?
 
2012-10-09 05:11:21 PM

Lego_Addict:
My sister buys a new pair of Sunglass every year, the newsest fashion by the hottest designer at the time. They run her at least $500 and it's not because she loses them or they break, it's because her benefits cover her up to $450 every year. She's been doing this for a long time and has quite the collection. I remind her she's a terrible human being when I notice the most recent purchase.


Um, medical insurance is in the US is basically prepaid purchasing. Since she's paid for the glasses anyway she might as well enjoy the benefits.

I already knew about Luxottica's utter dominance of the glasses market, so I enjoyed a private laugh when someone told her pre-school aged, "These are knock-offs, we don't buy knock-offs" while passing the $5 sunglasses kiosk the other day.
 
2012-10-09 05:35:31 PM
CSB:

Back in my high school days (when Roger Moore was still playing James Bond), I had a classmate who came from pretty humble beginnings, but started throwing a lot of money around during sophomore year. Other classmates and I (who had know this kid, and the circumstances of his relatively impoverished background, back to elementary school) wondered where all this cash was coming from. Dude didn't have a job or anything. Some hypothesized he might have robbed a bank.

Eventually, the dude fessed up to his newfound wealth. Every weekend, he would go around to a few of the upscale restaurants in OC beach communities (Newport, Laguna, Corona Del Mar, Dana Point, etc.) and say "I was here earlier this week and I think I lost a pair of Ray BanTM sunglasses. Could you check the lost and found?

Just as often as not, apparently, there was a pair there, which he quickly pawned or sold for $20 or so.

/CSB
//that was a lot of money, back then
///mah lawn, git off it.
 
2012-10-09 06:16:52 PM
39dollarglasses dot com
 
2012-10-09 06:17:36 PM

nelsonal: Lego_Addict:
My sister buys a new pair of Sunglass every year, the newsest fashion by the hottest designer at the time. They run her at least $500 and it's not because she loses them or they break, it's because her benefits cover her up to $450 every year. She's been doing this for a long time and has quite the collection. I remind her she's a terrible human being when I notice the most recent purchase.


Um, medical insurance is in the US is basically prepaid purchasing. Since she's paid for the glasses anyway she might as well enjoy the benefits.

I already knew about Luxottica's utter dominance of the glasses market, so I enjoyed a private laugh when someone told her pre-school aged, "These are knock-offs, we don't buy knock-offs" while passing the $5 sunglasses kiosk the other day.


I get your point. If they are available, why not use them. My beef with it is she falls for the $500 brandname crap and that she and the store abuse the system to claim sunglasses as prescription.
 
2012-10-09 06:37:40 PM
i have to wear a good quality sunglass because my eyes are compromised by the side effect of medication. mrs.Kritter knows this, she knows i need my sunglasses.

we have a few cross words recently and suddenly 'poof' both my pair of Ray-Bans magically disappear. it's just her, i and the dog in the house. know what i mean?

i tried putting up with a cheap pair and it hurt too much. went to a local opticians that sells real Ray-Ban, not some cheap fake knock-off on eBay. $185.00. A HUNDRED EIGHTY FIVE DOLLARS.

next time that biatch thinks its funny to make my sunglasses disappear i'm going to do something. i don't know what, but i'll come up with something. damn her straight to hell.
 
2012-10-09 06:41:36 PM

WxGuy1: The mark-up on eye glasses is ridiculous, and it's difficult to do price shopping when nearly every main brand of glasses is owned by the same company...

Luxottica Group brands:

--huge list--



Just looking at that list and reading the article, especially how Luxottica destroyed Oakley and then bought the pieces for cheap, methinks that Luxottica needs to be introduced to the Sherman Act.
 
2012-10-09 07:02:03 PM
Warby Parker.
 
2012-10-09 07:05:36 PM

Dinjiin: WxGuy1: The mark-up on eye glasses is ridiculous, and it's difficult to do price shopping when nearly every main brand of glasses is owned by the same company...

Luxottica Group brands:

--huge list--


Just looking at that list and reading the article, especially how Luxottica destroyed Oakley and then bought the pieces for cheap, methinks that Luxottica needs to be introduced to the Sherman Act.


That list also fails to include the fact that they own EyeMed VisionCare, the largest vision insurance company in the US. 159 million subscribers. Basically, if you wear glasses, you're probably going to run into a Luxottica business at some point unless you're trying hard not to.
 
2012-10-09 07:06:25 PM

Vegan Meat Popsicle: Who pays hundreds of dollars for glasses?


People who have a pair of Revos and then try to wear something cheap ever again. I get that the sticker shock is high, but you simply can't compare a good quality pair of sun glasses to something you can get at Target for $9.95. And the thing is, I still have Revos that I bought in 1995 - no, I'm not exaggerating. I used to work for Sunglass Hut way, way, way back in the day, and the first pair I bought with my employee discount were Revo-Ps. I've since owned one pair of anything other than Revo, and I hate them - and they're Oakleys, which are still decent shades.

Of course, one of my best friends is a regional manager for Luxottica, so it doesn't hurt that I get to take advantage of their quarterly employee discounts...
 
2012-10-09 07:13:07 PM
Glasses are like wine, people will pay more to say they did.
 
2012-10-09 07:19:26 PM

FilmBELOH20: And the thing is, I still have Revos that I bought in 1995 - no, I'm not exaggerating.


I can beat that. I still have a pair of Ray-Ban aviators AND a pair of Oakley Frogskins that I got in 1989.

Still wear the aviators.
Frogskins, not so much.
 
2012-10-09 07:38:58 PM
For some reason, none of the knock-off brands or cheap sports store sunglasses fit my head. They always sit at an odd angle. However, my pair of Arnettes fit perfectly, so I'm willing to pay the $80 for a pair of sunglasses that will last me more than five years (last pair broke at a show - my fault).

Fit is very important, since I have to wear sunglasses any time I'm outside at all. Haven't found anything cheaper that fits and is comfortable.
 
2012-10-09 07:44:08 PM

WxGuy1: The mark-up on eye glasses is ridiculous, and it's difficult to do price shopping when nearly every main brand of glasses is owned by the same company...

Luxottica Group brands:

Arnette
ESS
K&L Eyewear
Luxottica
Mosley Tribes
Oakley
Oliver Peoples
Persol
Ray-Ban
Revo
Steroflex
Vogue
Anne Klein
Brooks Brothers
Bvlgari
Burberry
Chanel
Chaps
Coach
Fox
Dolce & Gabbana
DKNY
Donna Karan
Miu Miu
Polo
Paul Smith
Prada
Ralph Lauren
Ralph
Reed Krakoff
Stella McCartney
Tiffany & Co.
Tory Burch
Versace

Retail stores:
LensCrafters
Pearle Vision
Sears Optical
Target Optical
Sunglass Hut
Oakley
Other small ones


No Maui Jim? Good.
 
2012-10-09 09:21:46 PM

Lego_Addict: They run her at least $500 and it's not because she loses them or they break, it's because her benefits cover her up to $450 every year.


WTF? Most plans I've seen are $50-150 and that's around every 2 years.
 
2012-10-09 11:14:27 PM

KrispyKritter: i have to wear a good quality sunglass because my eyes are compromised by the side effect of medication. mrs.Kritter knows this, she knows i need my sunglasses.
we have a few cross words recently and suddenly 'poof' both my pair of Ray-Bans magically disappear. it's just her, i and the dog in the house. know what i mean?
i tried putting up with a cheap pair and it hurt too much. went to a local opticians that sells real Ray-Ban, not some cheap fake knock-off on eBay. $185.00. A HUNDRED EIGHTY FIVE DOLLARS.
next time that biatch thinks its funny to make my sunglasses disappear i'm going to do something. i don't know what, but i'll come up with something. damn her straight to hell.


Dude, some people told you this yesterday. and now I have to agree--you need to get a divorce.
 
2012-10-09 11:47:29 PM
The first thing I thought after watching that 60 Minutes segment the other day is that I need to buy stock in Luxottica. Actually, that was the second thing I thought. The first thing I thought was, Holy crap, the head of that company is one incredibly smug and vicious SOB. And that's when I realized that company is a gold mine.
 
2012-10-10 09:31:03 AM

WxGuy1: The mark-up on eye glasses is ridiculous, and it's difficult to do price shopping when nearly every main brand of glasses is owned by the same company...

Luxottica Group brands:

Arnette
ESS
K&L Eyewear
Luxottica
Mosley Tribes
Oakley
Oliver Peoples
Persol
Ray-Ban
Revo
Steroflex
Vogue
Anne Klein
Brooks Brothers
Bvlgari
Burberry
Chanel
Chaps
Coach
Fox
Dolce & Gabbana
DKNY
Donna Karan
Miu Miu
Polo
Paul Smith
Prada
Ralph Lauren
Ralph
Reed Krakoff
Stella McCartney
Tiffany & Co.
Tory Burch
Versace

Retail stores:
LensCrafters
Pearle Vision
Sears Optical
Target Optical
Sunglass Hut
Oakley
Other small ones


Wow. Sounds like a monopoly
 
2012-10-10 03:22:26 PM
FilmBELOH20: And the thing is, I still have Revos that I bought in 1995 - no, I'm not exaggerating. I used to work for Sunglass Hut way, way, way back in the day, and the first pair I bought with my employee discount were Revo-Ps. I've since owned one pair of anything other than Revo, and I hate them - and they're Oakleys, which are still decent shades.

I too used to work for Sunglass Hut (started at Sunglass Company then the SH buyout happened) in the mid-90s, so my eyes were practically popping out of my skull when I saw this. Luxxotica was a second-tier maker back then. I'm just stunned that they bought RayBan and Oakley.

/just wore my mid-90s Revos a couple weeks ago
//won them in a sales incentive contest - also won a pair of Serengetis, Sunclouds, and Killer Loops
///Oakleys are crap and always have been
//you can pry my Gargoyles from my cold dead hands
/slashies
 
2012-10-10 05:57:31 PM

lelio: Lego_Addict: They run her at least $500 and it's not because she loses them or they break, it's because her benefits cover her up to $450 every year.

WTF? Most plans I've seen are $50-150 and that's around every 2 years.


That's what mine covers, $150 every year. LIUNA benefits are much better!
 
2012-10-10 11:11:43 PM
They own everything....funny, I have never bought one of their products. I buy el-cheapo walmart sunglasses.
 
2012-10-11 05:28:38 AM

Ingaba: CoonAce: www.zennioptical.com

Shout it from the rafters!


This.

My wife has gone glasses crazy since she found that site. She has a pair to go with every outfit she owns now. I have no style whatsoever so I have one pair of Buddy Holly type nerd glasses.

/Still own a pair of '86 Oakley blades
//They're totally awesome dude!
 
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