Ray-Ban accused of inflating prices by 1000%

The lawsuit was filed on behalf of consumers in federal court in San Francisco.

EssilorLuxottica, the Franco-Italian owner of luxury eyewear brands Ray-Ban and Oakley, has been accused of price fixing in the US market. The lawsuit was filed on behalf of consumers in federal court in San Francisco.

The action group alleges that collusion with competitors in the U.S. market, particularly Frames for America and For Eyes Optical, allowed Luxottica to inflate the prices of its products by up to 1,000%.

In addition, EssilorLuxottica subsidiary EyeMed secretly entered into illegal agreements with thousands of eye care suppliers to “channel millions of consumers into purchasing the conglomerate’s over-priced eyewear.”

In addition to the Franco-Italian manufacturer, about 20 other companies are named defendants in the lawsuit. EssilorLuxottica itself has not yet commented on the situation.

EssilorLuxottica is a global eyewear company formed by merging two major players in the eyewear industry, Essilor and Luxottica. The merger was completed in October 2018, creating one of the largest and most influential companies in the optical and eyewear sector.

The company owned a vast portfolio of iconic eyewear brands such as Ray-Ban, Oakley, Prada, Versace, and many more. Luxottica’s brand portfolio and retail presence made it a dominant force in the global eyewear market.