Eyewear trends, focus on Privé revaux
The global eyewear market size is anticipated to reach USD 255.3 billion by 2027, exhibiting a CAGR of 8.1% over the forecast period. The rise in the adoption of influencer marketing techniques has led to meaningful customer interaction, which is expected to drive the market over the next few years. Endorsements by influencers have increased the demand for designer and premium eyewear globally. This is why we decided to focus on designer brands, such as Privé Revaux, a brand born on a shared passion with designer David Schottenstein who partnered with celebrities such as Jamie Foxx. All will retain some equity in the company.
Key players in the eyewear market are using influencer marketing strategies which leads customers to use trendy designs as showcased by famous personalities. Higher engagement rates offered by micro-influencers is further promoting emerging eyewear companies to leverage these strategies to capture higher revenue share.
Additionally, the adoption of such marketing strategies allows eyewear manufacturers to generate awareness regarding new product launches, create campaigns to target different sections of the society, as well as create a more relatable public image. Increased awareness helps companies to penetrate deeper into the market and cater to the needs of the niche population, which enables new and established players in the market to ensure continual business practices.
This is how Privé Revaux was founded in 2017 by Chief Executive Officer David Schottenstein. Actors Jamie Foxx, Hailee Steinfeld, and Ashley Benson are partners in the business.
The development of innovative products, such as anti-fatigue lenses, is expected to help users exposed to radiation from digital devices such as laptops, televisions, and smartphones. The development of such products aims to capture the niche crowd and offer attractive growth prospects to the eyewear industry.
SAFILO ACQUIRES A STAKE IN PRIVE REVAUX
Italian eyewear company Safilo Group has acquired a majority stake in celebrity-backed label Privé Revaux, which sells sunglasses and reading glasses co-branded through collaborations with the influential and famous.
The company is buying out the stake controlled by a group of investors including private equity firm TSG Consumer Partners. Safilo will own 61% of the company, which had about $20 million in sales last year, nearly doubling revenue from the prior year.
The brand expanded through wholesale deals with department stores including Kohl’s and Dillard’s, along with eyewear retailers like National Vision and shopping channel QVC. It uses an ecosystem of celebrities to promote its sunglasses and eyeglasses, teaming up with names like model Adriana Lima and actress Madelaine Petsch to develop limited-edition collections and boost the label’s allure. Its latest line was a partnership with Disney star and “Descendants” actress Dove Cameron.
SAFILO & Its U.S. footprint
Safilo, which owns the Carrera and Polaroid lines, adds another American brand to its portfolio. The Padua, Italy-based company bought American eyewear line Blenders in December in a deal that valued the label at $90 million. Safilo recently posted preliminary sales results for 2019 of 939 million euros ($1.02 billion), down from a peak of 1.28 billion euros in 2011. The company has been looking to add new partners after losing some of its key licensed names in recent years, including Dior and Gucci.
“There is a strategic fit. It was very clear to me,” Safilo CEO Angelo Trocchia said in a phone interview. Initial talks began months ago when he and Schottenstein first met. Trocchia said he’d combine design know-how with Privé Revaux’s ability to connect with millennials to bolster the brand and enter new markets. Under its new majority owner, Privé Revaux plans to start an online prescription lens operation and begin selling its glasses in Europe. Safilo does business in 40 countries around the world.
Safilo’s PPE solution
More recently, Safilo announces a PPE Protective Eyewear Solutions program developed for eyecare professionals and retail partners in the United States and Canada who are in need of protection for their office and store personnel, as they re-enter the workplace, as well as options to sell to their customers. The Italian group has quickly industrialized a quality range of affordable, durable, and even stylish protective eyewear solutions, in its own manufacturing facilities in the U.S. and Italy, leveraging on Safilo’s expertise as a leader in premium and performance sport eyewear segments.
Two options from Safilo Group’s Polaroid STAY SAFE collection, available globally, will be offered in North America as part of the overall program. These are the first two PPE devices developed by Polaroid to offer protection and safety in healthcare and professional settings but also to meet the daily protection needs for patients/end consumers and will be part of a complete range of Polaroid Eyewear personal protection products.
About PRIVE REVAUX
Privé Revaux Eyewear was established to disrupt the eyewear market as a purveyor of quality goods at a great value. It was built on a shared passion for style and quality from serial entrepreneur David Schottenstein along with an elite team including celebrity visionaries Jamie Foxx, Hailee Steinfeld, and Ashley Benson as well as VP of Celebrity Relations Dave Osokow and Creative Directors Rob Zangardi and Mariel Haenn. With more than 100 hand-crafted and polarized designer frames starting at $29.95, everyone can be anyone.
Privé Revaux offers polarized lenses as shown in the video below. From using polarized lenses that offer 100% UV protection in every pair of their sunglasses to outfitting their eyeglasses with blue-light blocking technology, we leave no stone unturned when it comes to creating the most affordable, high-quality, handcrafted eyewear on the market as per their claim.
Our comments
The lenses they provide seem to easily pop out often while cleaning them or if they fall and one of the arms just broke at the plastic part. The hinges are not spring-loaded which means they are rigid and will not "stretch" to fit larger heads.
Also, it means they could break easier due to their rigidity. This does not show the quality of the glasses. Since glasses usually come with a fancy magnetized case and a cleaning cloth so you feel like you are getting a high-quality product, however, it is clear that the glasses are not of a very high quality. People say “that's to be expected from a $30 pair of sunglasses”. The gold color has also been seen as copper rather than Gold by some users and the lenses were not dark enough.
Conclusions
In brief, we would recommend it for the ones who are willing to buy affordable glasses and want to look like Jamie Foxx in a pair of glasses designed by him. Other than that, the glasses designed and made by Privé Revaux are not of a high quality therefore we would not recommend it if you have the budget to go for something of a higher quality.
Written by Adam