Prospects of Glasses Industry
Nowdays, buyers are keep close connections with Private label eyewear and in-house brands . So whether it is a lucrative business prospect or a fool’s errand? Who knows? We show somethings about private label, but you is supported to decide for yourself after taking a look at the facts in the following .
Companies all around the world all have their own names like Safilo and Luxottica,which have a share of a $95 Billion dollar global eyewear market.However private label and in-house brands are paving the way to a significant shift in competitive market,they also try their best to achieve more distribution to the market share.Go on , we’ll take a general look about some of the successful private label eyewear companies , knowing why it isn’t as hard as you think.
WHAT IS PRIVATE LABEL EYEWEAR?
We’re defining private label eyewear as optical products you buy directly from a manufacturer and the next is to put your brand name or your own label on it. It’s similar to putting your name on clothing commonly. You own brand ,the private label products.
Private Label on Amazon
Every time when people think of Private Label products,Amazon is the apparent front-runner .The online giant has becoming a big company which owns multi-billion dollar ,in the process ,the private label business model has greatly helped this, and they are now using this new style to develop their own brand.
For the beginning,Consumers were confusing about it , but Amazon’s strict rules and regulations gradually turned their attitude of doubt and opened the platform for private label sellers. The unbiased evaluation system allows consumers to match the quality of the products they buy. This is an almost foolproof system where consumers can verify that the quality of the products they purchase is good. Poor quality products can be reported quickly and not sold at all. Sellers with bad products will soon disappear.
The key to successful private label eyewear? Quality!
Quality wins everything. Only the retailers guarantee the quality, can Private label eyewear exist successful. In brief, private label eyewear needs to be just as good as the best brands out there, but at a ration price.
“In addition to its 7,000 retail stores and its roughly 10 production facilities ,the company owns some of the brands it sells including Ray-Ban,Oakley, Vogue, Oliver Peoples, Persol, Alain Mikli, Arnette and REVO which are bought in different years. These proprietary brands accounted for 70% of frame sales with Ray-Ban and Oakley making up nearly 45% of the sales.”
Here’s the important bit
“Some other brands like Bulgari, Burberry, Chanel, Coach, Dolce & Gabbana, Donna Karan, Paul Smith, Polo Ralph Lauren, Prada, Stella McCartney, Tiffany, Tory Burch, Versace, and Armani are licensed in the company. The agreements with these brands has exclusive meaning,there is no other manufacturer can make their glasses.”
Luxottica does not produce glasses in a small, antique factory in the rolling hills of Florence, where they outsource and manufacture a large number of glasses.It is unfounded to prove once again that the shame of poor production of Chinese products. Some of the best quality glasses in the world are made in China. More importantly, anyone who is willing to find a manufacturer can use it. This is why we invest time and resources:
· Undeniable Proof That Eyewear Quality Standards Are Still Importan
· How Eyewear Quality Inspection Can Put Your Brand Ahead of the Game
· The Struggle Between Cost and Quality in Eyewear Manufacturing
.The Best Eyewear Manufacturers in China, and How to Source Them
For example, private branded glasses far exceed the general trade of the pharmaceutical industry. Large retailers have created a target home brand that resonates with customers, that is, at Macy’s, 20% of revenue comes from the sale of private label merchandise, thanks to Aqua, Bar III, Charter Club, Club Room, Epic Threads First impression, Giani Bernini and other brands, Greendog, INC, for the fashionable urban female population between the ages of 18 and 40.
According to Statista.com:
“At first,the influence of private label brands used to be quite negative. In 2011, 17 percent of U.S. consumers felt PLB’s were big budgets for people ,they couldn’t afford the best; but because of the economic downturn in recent years, consumers have changed their mind.There are 33 percent of North American consumers coming to realize that these products are equally as good as the name brands they used to buy,and the products are more proper in terms of quality and value,.As a result, 94 percent of consumers in North America will continue to buy private label products .”
Retailers can obtain a massive of advantages by Private label brands . In addition to differentiation and loyalty, retailers who make use of a private label strategy gain a sizeable control over the products they offer. They help control over-pricing of products and better control production, marketing and profitability, helping to build customer recognition and value.
Some of the most devastating retailers in the eyewear industry have achieved success based primarily on their own branding strategies. According to consumer reports, Costco Optical has consistently achieved the highest overall satisfaction score among optical retailers. Costco uses non-branded products to enable them to seamlessly improve products and maximize consumer value by controlling commodity costs.
Warby Parker is an excellent example ,since the company witness a gap in the market, took a chance and subsequently built a business worth an estimated $1.2 billion within five years. They use an exclusive private label strategy to sell only Warby Parker frames and lenses.
WP places a strong focus on the customer experience and enjoys full ownership of the customer relationship. They are also known for their strong community activities, such as providing money or glasses to non-profit partners such as VisionSpring for every pair of glasses purchased by consumers. Who wants to lag behind such an inspiring initiative?
What About the “Small” Guys?
Small retailers are more profitable than large retailers,due to they implement a well planned private label strategy. When customers expect customization and personalization, they are in the bright , after all, they are“specialty” stores.
In addition,optical retailers have their own overall retail strategy unique to add a private label to eyeglass. Eyeglass lenses have no visible trademark for a consumer, and do not require packaging. On the other hand, cases and lens cloths are easy to brand and by doing this,they are readily available in small quantities to achieve environmental protection .
See where we’re going with this?
A small retailer can offer different productions by researching local need ,differentiate customers and go beyond the private label to create exclusive goods which are both unique and locally produced. The good quality is a good selling point and it also provide a way to build brand .Besides,some optical stores customize their unique eyewear for different person in their own factories. Like these Handmade buffalo horn rectangle sunglasses from Morgenthal Frederics.
Famous Brands v.s. Private Label
In terms of consumers ,they persue quality assurance of brands and not so much for their outside appeal. Traditionally, eyewear company established brands for a long period such as Ray-Ban, Oakley, and Revo have been the top optical shops. Prices tend to be rapidally inflated due to the nature rules of the eyewear trade which is lacking transparency.These rules are what Self-operated eyewear stores and startups essentially opposite.
As we can see,now private label and in-house brands are hitting a hit with their advantages including creative eyewear and simple pricing systems.
There are many companies such as Vision Express manufacture a variety of in-house brands.What;’s more, the quality is proper and priced significantly lower than some other famous brands.
These in-house brands aim at different styles for meeting different needs about , different lifestyles ,personalities, and even different occasions to wear glasses. The price is simplely accepted, making it all the more accessible to consumers.
In stark contrast to Oakley, Ray-Ban, Gucci and any other major eyewear brand that , these private label brands are subjected by the contract to license to the only supplier .,which in turn creates a product that is perceived and have their own styles.
We are willing to have a view about your thoughts on private label and in-house eyewear. Whether you have some experience in the successful business, take it easy to repost your ideas to the comment section below to share with our readers.