Spectacles Market in India-Marketing Topic

Spectacles Market in India Eye wear Industry Analysis Report in India Competitive Landscape of  Indian Spectacles Sector Essilor has remained the leading brand in the Indian spectacles sector throughout the review period, and the company has seen its market share almost double between 2002 and 2009. Situated in the premium end of the market, the brand has benefited from the strong growth in demand for high-value prescription lenses in India.

Essilor India, the national subsidiary of Essilor International, has also benefited from being one of the multinationals to enter the country very early, and it has now grown its distribution and retail presence across the country. Founded in 1998, Essilor’s Indian subsidiary has worked hard in the competitive environment to convince customers and opticians to accept plastic lenses over glass lenses. It has also used acquisitions to grow within India, and set up a manufacturing unit near the southern city of Bangalore. It has acquired 20 20 Optics in Hyderabad, Delta CNC in Ahmedabad and Sankar & Co. Optics in Chennai. In 2009, it increased its stake in GKB Rx Lens Pvt Ltd from 50% to 60%, and Essilor now accounts for it as a wholly owned subsidiary.

Two of the most important developments in the structure of the spectacles market were the successful entry of Titan Eye+ and the expansion of the watch brand Fastrack into this sector. In June 2004, the Fastrack brand of sunglasses was launched, at prices of Rs 700–2,000 per unit, which was cheaper than the country’s other well-known sunglasses brand Ray-Ban. This extension of the Fastrack brand into eyewear proved successful, and the company’s retail sales of sunglasses in 2009 are estimated at Rs 610.6 million. In 2007, the retail venture Titan Eye+ embarked upon an ambitious programme to launch a chain of eyewear and optical product specialists across the country. By November 2009, the company reported that it was operating 70 Titan Eye+ stores, staffed by optometrists who carry out eye tests, and displaying a plethora of brands of spectacle frames and lenses, contact lenses and sunglasses, as well as its own private label Titan Eye+.

The major supplier of sunglasses Ray-Ban Sun Optics experienced a significant loss of market share over the review period, mainly because Luxottica’s other brands were transferred to a different subsidiary, Luxottica India, in 2008, which adversely affected the value share of Ray-Ban Sun Optics in 2008 and 2009. Conversely, Luxottica India’s share jumped dramatically as it incorporated several popular brands such as Vogue, while the international parent also acquired the Oakley brand, another significant player in value terms in the Indian spectacle frames market.

Since 2006, multinationals have swarmed into the spectacles market within India in both lenses and frames. In the prescription lenses market, besides the leader Essilor, other brands including Zeiss, Hoya, Nikon, Kodak, Rodenstock and Transitions have all entered the market, and many of them have set up or acquired lab facilities. Most Indian suppliers are unbranded, although GKB and Indian Optics are two strong exceptions. Unbranded suppliers of lenses to the thousands of small, proprietary opticians that dot India’s urban landscape account for close to half the market.

In India, even today, the branded spectacles market mainly consists of demand from the metro cities. Northern India is the region with the highest presence of unbranded spectacle products, and New Delhi is the only market of significance in this region, which further demonstrates the very limited penetration of branded eyewear even in the major urban cities.

The spectacle frames market is completely fragmented, with even the leading company Luxottica India holding a market share of less than 3%. Industry estimates indicate that around half of the retail market for frames comprises unbranded products, both imported and Indian. Brands that performed well in the review period in frames include Esprit, Oakley and Vogue, which were perceived to offer good value for money to the Indian consumer, as they are not too expensive while also stylish and fashionable.

Safilo has also been aggressive in India and has increased its market shares accordingly, especially in the sunglasses subsector.

Essilor has been proactive in introducing improved products to the Indian consumer. In 2008, it launched Crizal A2 as the most transparent lens, and added to Varilux, its successful multifocal. The entry of premium brands, such as Nikon and Hoya, into the spectacle lenses market – and the growth of their sales within it – created more options for consumers and also led to growth in overall value sales.

Until 2006–2007, importers of spectacle frames and sunglasses purchased branded eyewear in a range of markets, and there was no consistency of supply for these brands to domestic retailers. Most of the international brands are now represented, however, through licensed distributors or marketing agents, and there has been a sustained effort to promote brands in India by ensuring their consistent availability through specific retailers. Source-Euromonitor International-Country Report India 2009 f you want Dissertations, Thesis, Case Studies on Spectacles Market in India, Research Proposals, Term Papers, Research Projects, Assignments, Coursework, PowerPoint Presentations and Synopsis, than contact Mahasagar Publications, Mumbai, India by calling +91 9819650213 or +91 8081344446  or visit website www.projectspapers.com