EssilorLuxottica Group SWOT & PESTLE Analysis
COMPANY PROFILE -EssilorLuxottica Group
Business Sector :Fashion & Lifestyle
Operating Geography :Paris, Europe, Global
About EssilorLuxottica Group :
A vertically integrated multinational corporation, EssilorLuxottica SA is an Italian-French company based in Paris, France. The company is a result of the merger of the Italian Luxottica and French Essilor, which took place on 1 October 2018. The group is a leading designer, producer and marketer of ophthalmic lenses, optical equipment and prescription glasses and sunglasses. With the help of its 140,000 employees the company provides vision care and eyewear products to its customers. While its lens technology consists of brands such as Crizal, Essilor, Eyezen, Oakley, Ray-ban, etc., its eyewear portfolio consists of brands such as Arnette, Burberry, BVLGari, Versace, Tiffany & Co., and many more. Apart from propriety brands the company has over 20 licensed premium brands. The global leader serves in products and services in more than 150 countries across five different continents. In May, 2022, EssilorLuxottica SA announced the acquisition of 90.9 percent of Giorgio Fedon & Figli S.p.A.
EssilorLuxottica’s unique selling proposition or USP lies in being a global leader in the design, manufacture and distribution of ophthalmic lenses, frames and sunglasses. EssilorLuxottica’s mission statement reads, “Our mission is to help people see more, be more and live life to its fullest.”
EssilorLuxottica Group Revenue :
€19,820 million – FY ending 31st December 2021
€14,429 million – FY ending 31st December 2020
Competitive Analysis of EssilorLuxottica Group
1. Diverse brand portfolio 2. Market Leader in terms of frames and lens 3. Strong supply chain and efficient distribution network 4. Brand image which gives it the freedom for pricing power | 1. Frequent Changes in Leadership impacting the growth of the company 2. Low investment in R&D 3. Overpricing on majority of the products 4. Unfair controlling of prices led to penalty |
1. Expansion in Emerging Markets 2. Expanding brand portfolio through Merger, Acquisitions and Licensing 3. Unfair controlling of prices led to penalty 4. Rising demand for vision care | 1. Loss of sales due to counterfeit goods 2. Rise of E-commerce 3. Security threat resulting in the loss of data 4. Loss of revenue due to Covid-19 pandemic |
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Detailed SWOT Analysis of EssilorLuxottica Group
Strength
1. Diverse brand portfolio: The brand portfolio which has proprietary brands such as Ray-Ban, Oakley, Vogue etc. and also licensed brands such as Giorgio Armani, Burberry, Chanel etc is a right mix of elegance and style. The portfolio appeals to many tastes of people and is well balanced between licensed brands and proprietary brands. Varilux, the number-one progressive lens brand recommended by eye care professionals, Transitions, the photochromic lens brand worn by more than 70 million people worldwide, Crizal, Eyezen, Xperio, and, most recently, Stellest, are among the Group's portfolio of innovative lens technologies.
2. Market Leader in terms of frames and lens: In January 2017, the company announced a merger with Essilor forming an entity whose market capitalization stands at €46 billion, making it the largest eyewear company in the world. Before the merger, the global market share of Luxottica was 14% and Essilor 13%. The synergy thus formed of two naturally complementary products, frames and lens will come under one roof and look to serve vision needs of 2.5 billion people all over the world. 100 million prescription glasses and sunglasses frames are produced worldwide. 565 million prescription lenses and 66 million pairs of non-prescription sun lenses are produced worldwide.
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Weakness
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Opportunity
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Threat
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References used in EssilorLuxottica Group SWOT & PESTLE Analysis Report
1. Annual Report 2021 - https://www.essilorluxottica.com/sites/default/files/documents/2022-03/EssilorLuxottica%20DEU%202021_FINAL%20PDF_EN.pdf
2. Full year 2020 results - https://www.essilorluxottica.com/sites/default/files/documents/2021-03/PR%20EN_2021.03.12.pdf
3. Luxottica acquires 90.9% of Giorgio Fedon & Figli S.p.A. - https://www.essilorluxottica.com/luxottica-acquires-909-giorgio-fedon-figli-spa
4. Luxottica and Mazzucchelli: partnership sustainability benefits and supply chain considerations - https://www.aop.org.uk/ot/industry/eyewear-and-lenses/2021/06/29/luxottica-and-mazzucchelli-partnership-sustainability-benefits-and-supply-chain-considerations
5. Luxottica and Mazzucchelli: partnership sustainability benefits and supply chain considerations - https://www.livemint.com/companies/news/luxottica-group-launches-eyewear-brand-arnette-in-india-11625635442771.html
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EssilorLuxottica Group SWOT and PESTLE analysis has been conducted by Pulkit Mittal and reviewed by senior analysts from Barakaat Consulting.
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