Sunglasses in Italy

PROSPECTS

Shift towards lower-priced sunglasses and online discounting impact value sales

Sunglasses in Italy continued to be impacted in 2019 by the polarisation of demand between luxury and low-priced references, to the cost of mid-priced products. With more and more sunglasses sold at the low end of the price spectrum, value sales are expected to see a steeper decline in the forecast period compared to the review period.

Eye health awareness boosts demand for outdoor sunglasses offering UV protection

As eye health awareness becomes more prevalent, customers are increasingly interested in high-quality sunglasses that provide the best UV protection. General health awareness in the country has brought about more active lifestyles and, with it, further growth potential for sunglasses suitable for various uses including outdoor activities and sports.

Fashion remains important but consumers also seek blue light protection

Sales of sunglasses are closely linked to rapidly changing fashion trends. Italian consumers often own multiple pairs to express their style and update their look.

COMPETITIVE LANDSCAPE

Luxottica dominates due to owning leading brand within wide portfolio

Luxottica Group SpA continued to dominate value sales of sunglasses in Italy in 2018, mainly due to the strength of its Ray-Ban brand. The company continues to benefit from its wide portfolio of owned brands, including Ray-Ban, Oakley, Persol, and Vogue, and licensed brands such as Emporio Armani, Giorgio Armani, Prada, Chanel, Dolce & Gabbana, DKNY, and Bvlgari.

Italian companies dominate sunglasses and target aspirational millennial and generation Z consumers

National companies dominate sunglasses in Italy. Guccio Gucci SpA, Safilo Group SpA and Giorgio Armani SpA are among the leading players after Luxottica Group SpA.

Local company Marcolin SpA renews licence agreements

Venetian eyewear player Marcolin SpA is an interesting domestic company in terms of its manoeuvres to retain its position in the sunglasses competitive landscape. In 2018, it advanced its position in the rankings and maintained its value share of sunglasses but saw a decrease in value sales amid the generally weaker sales of sunglasses in Italy.

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