In this article, we will take a look at the 5 biggest eyewear companies in the world. If you want to see more companies in this selection, go to the 13 Biggest Eyewear Companies in the World.
5. Alcon Laboratories, Inc (NYSE:ALC)
Number of Employees: 24,389
Alcon Laboratories, Inc (NYSE:ALC) is a Geneva, Switzerland-based company that specializes in developing, manufacturing, and distributing eye care products.
Alcon Laboratories, Inc (NYSE:ALC) has a direct presence in over 60 countries and operates in more than 140 countries through its partners. The company has the distinction of being the biggest eye care device entity across the globe. Alcon Laboratories, Inc (NYSE:ALC) is a key player in the field of Custom LASIK procedures, which is expected to have a market size of $7.1 billion by 2030, compounding annually at an average rate of 11.1%.
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4. GrandVision
Number of Employees: 39,000
GrandVision is a Schiphol, Netherlands-based optical retailer with 7,200 retail stores spread across 40 countries and a strong e-commerce presence.
GrandVision claims that 45% of its employee headcount comprises professional eye-care specialists. The company has more than 30 distinct retail brands in its portfolio that cater to different markets. GrandVision is now focused on developing an omnichannel brand. Through the e-commerce platforms, users can make accounts that track their previous orders, which could aid in re-ordering items. Furthermore, the platform allows the scheduling of eye exam appointments. In Q3 2021, GrandVision’s revenue increased by 10% compared to Q3 2019, reflecting impressive growth surpassing the pre-pandemic levels.
3. Kering Eyewear
Number of Employees: 42,800
Kering Eyewear is a Padova, Italy-based luxury and high-end eyewear company with a group of powerful brands in its portfolio. Some of these brands include Gucci, Montblanc, Cartier, Dunhill, and Puma. Kering Eyewear designs and manufactures eyewear products for these brands, keeping in line with the brand identity.
In March 2022, Kering Eyewear announced the takeover of US-based Maui Jim for an undisclosed amount. The eyewear market is set to experience growth due to the deteriorating eye care amongst the masses, benefitting a company like Kering Eyewear. In December 2022, Kering Eyewear partnered with Dufry to launch a multi-brand concept eyewear store at the Zurich airport. The store is wholly dedicated to Kering eyewear’s portfolio of brands. In Q3 2022, Kering Eyewear reported group revenue of €5,137 million, reflecting an increase of 14% from the same period last year.
2. Johnson & Johnson Vision
Number of Employees: 141,700
Johnson & Johnson Vision is a subsidiary of New Jersey-based consumer packaged goods, medical devices, and pharmaceutical giant Johnson & Johnson (NYSE:JNJ). The subsidiary is based out of Irvine, California, and is operated through two divisions, namely Johnson & Johnson Surgical division and Johnson & Johnson Vision Care.
Johnson & Johnson Vision is part of the medical devices business, which will remain a part of Johnson & Johnson (NYSE:JNJ) along with the pharmaceutical division. The company is working on spinning off the consumer business as a separate entity. Johnson & Johnson Vision is pioneering innovation in the field of eyewear by launching sphere and multifocal lenses that can filter out blue and violet light at 60%. This benefits the user as the lenses reduce glare, halos, and starbursts, lowering the probability of intraocular light scatter.
Distillate Capital Partners LLC shared its outlook on Johnson & Johnson (NYSE:JNJ) in its Q2 2022 investor letter. Here’s what the firm said:
“Johnson & Johnson was among the 2 largest trims at around 1% each. Each stock was up 1% in the quarter compared to the 16% price decline for the S&P 500 and the positions were reduced as the valuations became somewhat less appealing, though still attractive enough to warrant inclusion.”
1. EssilorLuxottica SA
Number of Employees: 180,000
EssilorLuxottica SA is a Charenton-le-Pont, France-based vertically integrated eyewear company. The company is the benchmark in the eyewear market and is sometimes considered a monopoly due to its extensive presence.
EssilorLuxottica SA opened the biggest Ray-Ban store in the travel retail segment at the Hamad International Airport in Doha, Qatar, in 2022. The company made this strategic move, keeping in mind that the airport was set to receive thousands of tourists for the FIFA World Cup 2022. Furthermore, EssilorLuxottica SA reached an agreement with Swarovski as it became the exclusive global designer, distributor, and manufacturer of Swarovski eyewear products till December 2028. The company’s successful execution of its growth plans makes it one of the biggest eyewear companies in the world.
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