{"id":642718,"date":"2017-08-21T04:04:51","date_gmt":"2017-08-21T04:04:51","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/08\/21\/ever-wonder-why-the-price-of-your-eyeglasses-is-nearly-the-same-as-an-iphone\/"},"modified":"2017-08-21T04:04:51","modified_gmt":"2017-08-21T04:04:51","slug":"ever-wonder-why-the-price-of-your-eyeglasses-is-nearly-the-same-as-an-iphone","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/08\/21\/ever-wonder-why-the-price-of-your-eyeglasses-is-nearly-the-same-as-an-iphone\/","title":{"rendered":"Ever wonder why the price of your eyeglasses is nearly the same as an iPhone?"},"content":{"rendered":"

Ever wonder why your eyeglasses cost nearly as much as an iPhone?<\/strong> It all comes down to a good old-fashioned monopoly on the eyeglass market for both spectacles and shades. Luxottica controls almost 80% of the eyeglass market in the US, owning almost all major brands and eyeglass stores. The company announceda USD 46 bn merger with Essilor International back in January<\/a>. The combined entity would hold a near 27% market share of the global market, with Johnson & Johnson coming in at a far second at a mere 3.9%.<\/p>\n

Luxottica\u2019s monopoly has allowed it to dictate terms to and bully its competitors<\/strong>, a new documentary claims. It dropped Oakley from its stores when the latter challenged it on pricing, then took over the company when its share price dropped. Oh, and they also own the second-largest insurance company in America. It is unclear why antitrust regulators have let it go. But by maintaining the illusion of variously branded glasses and stores, the company has managed to create the illusion of a variety of choices. We\u2019re not ashamed to say we learned this from the latest episode of College Humor\u2019s Adam Ruins, which breaks down the whole the story (watch, runtime: 4:17<\/strong><\/a>).<\/p>\n","protected":false},"excerpt":{"rendered":"

Ever wonder why your eyeglasses cost nearly as much as an iPhone? It all comes down to a good old-fashioned monopoly on the eyeglass market for both spectacles and shades. Luxottica controls almost 80% of the eyeglass market in the US, owning almost all major brands and eyeglass stores. The company announceda USD 46 bn […]<\/p>\n","protected":false},"author":1,"featured_media":642719,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[9004],"tags":[72,2388],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-642718","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-worth-watching","tag-enterpriseam","tag-worth-watching","wpautop","entry"],"acf":{"mongo_id":"d4bab04e-e161-49b0-b9c4-b20bdbbddeb5","order":"0","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2017\/8\/917.jpg","photo_position":"above","related_issue":[642693],"teaser":"","voice_url":""},"yoast_head":"\nEver wonder why the price of your eyeglasses is nearly the same as an iPhone? - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2017\/08\/21\/ever-wonder-why-the-price-of-your-eyeglasses-is-nearly-the-same-as-an-iphone\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ever wonder why the price of your eyeglasses is nearly the same as an iPhone?\" \/>\n<meta property=\"og:description\" content=\"Ever wonder why your eyeglasses cost nearly as much as an iPhone? It all comes down to a good old-fashioned monopoly on the eyeglass market for both spectacles and shades. Luxottica controls almost 80% of the eyeglass market in the US, owning almost all major brands and eyeglass stores. 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Authorities have invited both companies with a local presence and new players to compete, the local press reported, citing government sources. Eastern \u2014 which has been\u2026","rel":"","context":"In "COMPETITION WATCH"","block_context":{"text":"COMPETITION WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/competition-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/3\/256.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":558272,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/03\/smoke-drama\/","url_meta":{"origin":642718,"position":1},"title":"Smoke drama","author":"enterpriseam admin","date":"3 August 2021","format":false,"excerpt":"Here\u2019s why tobacco companies are still unhappy with the recently-amended terms of the license to set up Egypt\u2019s second tobacco company: JTI-Nakhla Tobacco, British American Tobacco Egypt and Al Mansour International Distribution Company filed two separate letters \u2014 copies of which were obtained by Masrawy \u2014 to the Madbouly cabinet,\u2026","rel":"","context":"In "Manufacturing"","block_context":{"text":"Manufacturing","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/manufacturing\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/8\/72.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":565113,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/21\/eastern-company-confirms-ongoing-tender-that-would-kind-of-end-its-tobacco-monopoly\/","url_meta":{"origin":642718,"position":2},"title":"Eastern Company confirms ongoing tender that would (kind of) end its tobacco monopoly","author":"enterpriseam admin","date":"21 March 2021","format":false,"excerpt":"Tobacco monopoly Eastern Company has confirmed we\u2019re about to see a new competitor: Several companies were invited to bid to become Egypt\u2019s second major tobacco company in a tender issued by the Industrial Development Authority (IDA), state-owned cigarette manufacturer Eastern Company said in a filing to the EGX (pdf). The\u2026","rel":"","context":"In "SPEED ROUND: COMPETITION WATCH"","block_context":{"text":"SPEED ROUND: COMPETITION WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-competition-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/3\/507.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":563687,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/13\/tobacco-license-tender-to-be-rolled-out-on-1-august\/","url_meta":{"origin":642718,"position":3},"title":"Tobacco license tender to be rolled out on 1 August","author":"enterpriseam admin","date":"13 July 2021","format":false,"excerpt":"Tobacco license tender goes live in August: Tobacco players will be able to bid for a license to establish Egypt\u2019s second major tobacco company from 1 August in the second iteration of a tender that was pulled earlier this year after attracting criticism for containing unfair terms, Al Shorouk reports.\u2026","rel":"","context":"In "COMPETITION WATCH"","block_context":{"text":"COMPETITION WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/competition-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/7\/182.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":574966,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/28\/golds-relationship-with-the-stock-market-is-changing\/","url_meta":{"origin":642718,"position":4},"title":"Gold\u2019s relationship with the stock market is changing","author":"enterpriseam admin","date":"28 September 2020","format":false,"excerpt":"Gold\u2019s relationship with the stock market is changing: Historically, gold prices and the performance of the US stock market have an inverse relationship \u2014 investors pile into the safe haven asset when markets decline, while a stock rally typically drives down the price of the metal. This traditional wisdom hasn\u2019t\u2026","rel":"","context":"In "Worth watching"","block_context":{"text":"Worth watching","link":"https:\/\/enterpriseam.com\/egypt\/category\/lifestyle\/worth-watching\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/9\/297.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":565543,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/14\/carmakers-struggle-to-charge-up-ev-future\/","url_meta":{"origin":642718,"position":5},"title":"Carmakers struggle to charge up EV future","author":"enterpriseam admin","date":"14 April 2021","format":false,"excerpt":"We have too many things to charge, and that's causing a bottleneck for electric vehicle makers: Battery-powered electric vehicles are expected to reach milestones in the next couple of years that will fuel their mainstream adoption. 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