Having plunged by almost a quarter during 2020, retail current value sales of luxury eyewear will exhibit no more than the most marginal of rebounds during 2021. During the lockdown period from March-May 2020, the entire eyewear supply chain remained open.
Men’s and women’s luxury sunglasses were the most impacted the most by the pandemic in 2020, as consumers focused less on status symbols and fashion accessories and more on health and wellbeing. In 2021, these products struggled to recover due to the fact that it remained obligatory to wear face masks in outdoor areas until the end of June, which discouraged many consumers from buying a new pair of luxury sunglasses.
With its retail value share having more than doubled during 2020, e-commerce continued to grow in importance in luxury eyewear during 2021. It is particularly important for luxury sunglasses.
The pace of recovery in retail current value sales of luxury eyewear will accelerate during 2022. Apart from an anticipated post-pandemic economic recovery, demand will be supported by Italy’s ageing population.
In the years to come, local consumers are expected to continue to look to eyewear stores, where they can receive advice from professional opticians, rather than purchasing luxury spectacle frames through online stores or at other retailers. However, this will not be the case for luxury sunglasses, given that these are perceived more as an accessory.
Leader Luxottica renewed its licensing agreements with both Versace and Dolce & Gabbana during 2020, with both of these agreements set to run until 2029. Safilo Group SpA, which ranked fifth in luxury eyewear in 2020, is likely to be negatively impacted by the loss of the Max Mara and Dior licences in 2020 and 2021, respectively.
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Understand the latest market trends and future growth opportunities for the Luxury Eyewear industry in Italy with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Luxury Eyewear industry in Italy, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Luxury Eyewear
This is the aggregate of luxury sunglasses and luxury spectacle frames.
See All of Our DefinitionsThis report originates from Passport, our Luxury Eyewear research and analysis database.
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