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A local Lens Crafters told her its pupil measuring machine was broken. eyewear market, Luxottica (LUX), owns both store chains.
Ultimately, Chi had to pay at a local optometry clinic to get her pupillary distance, or PD. And the Italian company, which also owns everything from brands like Oliver Peoples and Ray-Ban to the Sunglasses Hut chain, has cracked down on giving out the PD measurement.
In addition, Luxottica owns the Sunglass Hut retail brand and is a retail company in its own right, with over 7,000 stores worldwide, giving it a majority share of the eyewear market.
A single, huge international corporation owns three of the four eyeglass stores listed. Besides Lens Crafters, its retail subsidiaries include Sunglass Hut, Pearle Vision, Sears Optical, Target Optical, BJ’s Optical and Cole Vision Care.
Barry Lynn, director of the New America Foundation’s Markets, Enterprise and Resiliency Initiative, said if you define a monopolistic company as one “big enough to determine the terms of business within its industry,” then Luxottica qualifies.
It also controls retail shops, including Lens Crafters, Pearle Vision, Sears Optical and Target Optical.
And it owns the Eye Med Vision Care group, a vision insurance company.
Over the past 5 years, Luxottica, the world’s largest corporate player in the eyeglasses industry, steadily bought up other companies.