2021 was a much more positive year for luxury eyewear, as all categories rebounded to growth, starting the recovery process. This proves that eyewear remains an essential item for consumers.
Luxury eyewear in Germany is relatively concentrated, with the top four companies all holding double-digit value shares in 2020. Safilo GmbH retained its leading position in 2020, offering a portfolio of fashion brands, including Hugo Boss and Dior.
The unit prices of luxury eyewear increased during 2021 in comparison with 2020. However, the shift towards e-commerce is not making it any easier for the category to return to the unit prices charged in 2019.
Luxury eyewear is expected to return to the pre-COVID-19 level of current value sales between 2022 and 2023. All categories, including luxury spectacle frames, as well as men’s and women’s luxury sunglasses, are set to contribute to growth, as all three are expected to register strong current value increases over the forecast period.
Luxury spectacle frames could face some competition from contact lenses; however, given the current circumstances in terms of home office arrangements, as well as the more hybrid approach to working and studying, consumers are more likely to prioritise the use of spectacles, at least for the majority of the time. This is one of the reasons why the luxury segment is predicted to record such strong growth, driven by demand for stylish designs and a certain level of status.
In the years to come, consumers are expected to look to eyewear stores, where they can find professional advice from opticians and have a full shopping experience, particularly for luxury spectacle frames. For luxury sunglasses, given that these are perceived more as an accessory, players are likely to focus on perfecting e-commerce, together with offering additional tools that will help with the sales process, with sales impacted by impulsive and fashion-driven purchasing behaviours.
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Understand the latest market trends and future growth opportunities for the Luxury Eyewear industry in Germany with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This is the aggregate of luxury sunglasses and luxury spectacle frames.See All of Our Definitions
This report originates from Passport, our Luxury Eyewear research and analysis database.
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