About Luxury Sunglasses
Luxury sunglasses are premium sunglasses that are highly expensive and are specially made for high-end customers who purchase products based on their labels than on features. These are mostly used as fashion accessories than to avoid direct intense light. Continuous exposure to harmful ultraviolet (UV) radiations can harm the retina of the eyes and lead to various other eye problems. The use of sunglasses can prevent sunlight and high-visibility intense light from damaging the eyes.
Technavio’s analysts forecast the global luxury sunglasses market to grow at a CAGR of 6.51% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global luxury sunglasses market for 2017-2021. To calculate the market size, the report considers the revenue generated through the retail sales of different types of luxury sunglasses.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Luxury Sunglasses Market 2017-2021
Technavio recognizes the following companies as the key players in the global luxury sunglasses market: Essilor, LOUIS VUITTON, Luxottica Group, and Safilo Group.
Other Prominent Vendors in the market are: Alexander McQueen, CHARMANT Group, De Rigo Vision, Guccio Gucci, REVO, Marchon Eyewear, and Marcolin.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is advent of innovative lenses and design in luxury sunglasses. The development of innovative and designer products as well as the enhanced living standards of consumers worldwide have increased the demand for luxury sunglasses. Key competitors are coming up with technologically advanced sunglasses. For example, Oakley uses Prizm, a revolutionary lens technology in sunglass lenses, which optimizes the performance by offering ultra-precise color tuning, designed for specific environments.”
According to the report, one driver in the market is premiumization in luxury sunglasses industry. With advanced technology and innovative features being introduced in most of the industries, the quality and innovation of luxury sunglasses is no exception and is crucial for the growth of the sunglasses industry. The players are involved in enhancing the quality of their products to execute proper branding to project the true facts about their products, which attract brand conscious customers. Luxury sunglasses are considered to be durable, block UVA rays and UVB rays, and promote healthy vision.
Further, the report states that one challenge in the market is increase in availability of counterfeit products. The global luxury sunglasses market has a large number of low-cost private labels. These private labels sell products that offer a high style quotient and innovative features at low price. This becomes challenging for the premium brands, especially in developing countries. Although these private labels do not offer proper UV protection or any other prominent benefits, customers buy sunglasses just to cater to their fashion needs. Such customers opt for the latest trends and do not seek the optical benefits these products offer.
Essilor, LOUIS VUITTON, Luxottica Group, Safilo Group, Alexander McQueen, CHARMANT Group, De Rigo Vision, Guccio Gucci, REVO, Marchon Eyewear, and Marcolin.