People wearing Specs or Sunglasses (anywhere in the world) must know this fact (I watched program called 60 Minutes on Bloomberg UTV yesterday and was shocked). A few years ago, the RayBan Aviator Sunglasses used to cost around Rs.2000 (around $40 in US) but now they cost upwards of Rs.5000 or 6000 (More than $150 in US). Why? Why are the prices of frames so high? When you walk into a Spectacle store, have you ever wondered why they show you only premium, imported frames (and hardsell them for quality and brand). The answer is an italian company called Luxotica. You may find it hard to believe but this relatively lesser known company controls the specs and sunglasses market throughout the world. It is a monopoly (we thought monopoly was no longer possible due to information revolution and govts tough stand on this subject). These guys not just make frames, sun-glasses with different brands (from Chanel to D&G, RayBan, and many more), they also own an insurance company (that refunds money for specs), many stores, and so on. Even in India, they have a big presence. Read these articles for more on this subject - online.wsj/news/articles/SB10001424052748704518904575365362932852610 cracked/article_18845_6-secret-monopolies-you-didnt-know-run-world.html (BTW - the above article also lists another monopoly - Monsanto - which is virtually responsible for all the American Sweet Corn that we love to eat) This is the video that I watched yesterday - cbsnews/video/watch/?id=50149025n
Posted on: Mon, 28 Oct 2013 05:07:31 +0000