Opticians tend to dominate sales of spectacle frames in France, including those included in the luxury spectacle frames category. From mid-March in 2020, however, the French government implemented lockdown measures throughout the country, and opticians around the country closed.
Sales of luxury sunglasses also experienced a sharp decline in 2020, although less severe than luxury spectacle frames. The slightly better performance of sun glasses in the category is thanks to its larger presence in e-commerce channels, which continued to rise in 2020 as consumers could not visit retail outlets in person.
The Essilor Luxottica megamerger has had a considerable impact in eyewear. No group has the size to compete with the new entity, as it combines dual expertise in ophthalmic lenses and high-end spectacles.
Luxury eyewear is not expected to rebound immediately in 2021 to pre-COVID-19 levels. This is partially due to a shift in the category whereby opticians are losing their monopoly over sales in this category.
France’s new reimbursement policy in eyewear is expected to have a negative impact on sales in luxury eyewear in the forecast period. The new policy, which came into effect in 2020, makes it compulsory for all opticians to offer a selection of ‘100% health’ basic option in their shops with a ‘reste à charge 0’ price.
Although a relatively high number of opticians are expected to fall into bankruptcy following the economic turmoil of the COVID-19 crisis, e-commerce is expected to forge ahead thanks to new technology offering consumers the opportunity to ‘try on’ luxury sun glasses online. This is expected to be appealing to new generations of consumers in the forecast period.
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Understand the latest market trends and future growth opportunities for the Luxury Eyewear industry in France with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This report originates from Passport, our Luxury Eyewear research and analysis database.
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