60 Minutes - Luxottica. Do you know who makes your glasses?
60 Minutes - Luxottica. Do you know who makes your glasses? on HackerTube: recommended by 5 Hacker News commenters across 4 separate months, 2014–2023.
A 60 Minutes segment on Luxottica, the company that owns most major eyewear brands and retailers and dominates the market. It shows how consolidation of brands and manufacturing affects glasses prices.
What HN commenters said
9 Hacker News comments link this video. Each one links back to its thread.
petilonNov 2022Recommends
Glasses are expensive because there is no competition. One company - Luxottica - owns pretty much everything. You go to LensCrafters and prices seem super expensive, so you go to Pearle Vision and that's expensive too, so you go to Target Optical and prices are still high and then you think maybe glasses are expensive, since you went to multiple stores and they all have similar prices. What you don't realize is that all those retail brands are owned by the same company - Luxottica [1]. They operate under several names, so there is an appearance of competition but there isn't. But wait, it isn't just stores, they also own eyewear brands such as Ray-Ban, Chanel, Coach, Oakley, Prada, Tiffany, and so on. Yes, all of those brands are owned by Luxottica [2]. Wait, not done yet. They also own insurance. Luxottica owns the vision insurance company EyeMed. [3] Still not done. Luxottica has merged with Essilor and now own multiple lens brands [4]. See 60 Minutes story on Luxottica if you're not outraged yet [5]. Where are the anti-trust enforcers in this country and other countries, and why are they not doing anything? [1] [link] [2] [link] [3] [link] [4] [link] [5] ▶ this video
in “Why are glasses so expensive? The industry prefers to keep that blurry (2019)” · View on HN
cheriotJan 2019Recommends
The 60 minutes episode on Luxottica and why glasses are so expensive was interesting context for reading about Warby Parker. ▶ this video
in “Warby Parker built a 1,400-employee company by focusing on team culture” · View on HN
interlocutorJan 2019Recommends
The reason glasses cost so much is because one company owns: (1) nearly all brand name frames including Ray-Ban, Oakley, Prada eyewear, Armani eyewear and so on, (2) nearly all retail stores such as LensCrafters, Pearle Vision, Sears Optical and Target Optical and (3) EyeMed, one of the largest vision insurance companies. See this eye-opening 60 Minutes story on Luxottica: ▶ this video Luxottica retail brands: [link] Luxottica eyewear brands: [link] Luxottica vision insurance: [link] In the US, only Costco and Walmart's optical departments are independent of Luxottica.
in “Why are glasses so expensive? The eyewear industry prefers to keep that blurry” · View on HN
wespadOct 2015Recommends
It's the same with eyewear. Check out the 60 Minutes story on Luxottica: ▶ this video They control over 80% of the global market, from manufacturing, to opticians, retail stores, and brands, including the second largest vision benefits company in the US.
in “101 Brand Names, 1 Manufacturer (2007)” · View on HN
phil21Mar 2014Recommends
These are really just design houses that aggregate brand names and manufacture largely in China. ▶ this video is a great watch if you have time. Nothing too surprising to those that understand where this stuff comes from, but certainly interesting to see it laid out.
in “Google Deal With Luxottica Will Bring Glass to Ray-Ban, Oakley” · View on HN
gerashJun 2023Cites it
Exactly, Luxottica is the worst: See this 60 min talk from a decade ago: ▶ this video but that does not bother EC apparently.
in “EU suggests breaking up Google's ad business in preliminary antitrust ruling” · View on HN
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pm90Jan 2019Cites it
Its a monopoly that abuses its power to extract money from hapless consumers, most of whom just want a pair of decent eyeglasses to function. I've made a conscious decision to avoid purchasing from them as much as I can, but do continue to buy from Ray-Ban. See: ▶ this video
in “Warby Parker built a 1,400-employee company by focusing on team culture” · View on HN
krishanathNov 2017Cites it
The reason eye glasses cost so much is the multiple monopolies of Luxottica. Luxottica owns: (1) nearly all brand name frames including Ray-Ban, Oakley, Prada eyewear, Armani eyewear and so on, (2) nearly all retail stores such as LensCrafters, Pearle Vision, Sears Optical and Target Optical and (3) EyeMed, one of the largest vision insurance companies. Luxottica retail brands: [link] Luxottica eyewear brands: [link] Luxottica vision insurance: [link] See 60 Minutes story on Luxottica: ▶ this video
in “Vision Insurance Is Making Glasses More Expensive” · View on HN
petilonOct 2017Cites it
The reason glasses cost so much is because one company owns: (1) nearly all brand name frames including Ray-Ban, Oakley, Prada eyewear, Armani eyewear and so on, (2) nearly all retail stores such as LensCrafters, Pearle Vision, Sears Optical and Target Optical and (3) EyeMed, one of the largest vision insurance companies. Luxottica retail brands: [link] Luxottica eyewear brands: [link] Luxottica vision insurance: [link] See 60 Minutes story on Luxottica: ▶ this video
in “A Closer Look at the $13B Premium Eyewear Market” · View on HN