Global Sunglasses Market 2017-2021

MRC Announces the Publication of its Research Report – Global Sunglasses Market 2017-2021

MRC recognizes the following companies as the key players in the global sunglasses market  LUXOTTICA GROUP, Safilo Group, Essilor, LVMH, and MAUI JIM

Other Prominent Vendors in the market are: Alexander McQueen, Fielmann, Lanvin, Michael Kors, Pivothead, REVO, Specsavers Optical, Marchon Eyewear, Marcolin Eyewear, Fastrack, Charmant, and De Rigo Vision.

Commenting on the report, an analyst from MRC’s team said: “The latest trend gaining momentum in the market is Growing adoption of sunglasses as fashion product. Manufacturers in the sunglasses market are continuously focusing on the development of new style, shape, color, size, and structure of sunglasses. These continuous innovations and product developments have led consumers with varied options to choose from according to the need and occasion such as office wear, casual wear, party wear, and beachwear. The popularity of prescription sunglasses among consumers of the target group has increased. This is because these prescription sunglasses eliminate the need of carrying two pairs of eyewear.”

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According to the report, one of the major drivers for this market is Premiumization of sunglasses. Technology advances and innovation that are being introduced in the sunglasses market are crucial factors driving the growth of the market. The manufacturers in the industry are trying to enhance the quality and features of their products to attract brand-conscious customers and offer them a high return on investment (ROI).

Further, the report states that one of the major factors hindering the growth of this market is Growing availability of counterfeit products. The major challenge in the global sunglasses market is the easy availability of counterfeit and fake products. Some of the highly imitated brands in the sunglasses market are Ray Ban, Gucci, and JIMMY CHOO. This presence of counterfeit brands leads to fragmentation of the market, thereby leading to lack of price standardization, lower margin for branded players, disheartening the brand equity of major players operating in the market, establishment of an uneven competitive scenario, and market share erosion.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

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