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Ray-Ban maker accused in lawsuit of inflating prices 1,000%, Retail News, ET Retail

<p>Representative Image</p>
Representative Image

The French-Italian owner of the Ray-Ban and Oakley eyewear brands was sued for allegedly scheming with competitors to inflate prices by as much as 1,000%.

Paris-based EssilorLuxottica SA, the world’s largest eyewear company, is the “instigator and primary enforcer” of the price-fixing scheme in the US market, forming illegal agreements with Frames for America Inc. and For Eyes Optical Co., among others, according to the consumer antitrust complaint filed Friday in San Francisco federal court as a proposed class action.

The complaint also alleges that EssilorLuxottica’s vision benefits subsidiary, EyeMed, has formed anticompetitive agreements with thousands of eyecare providers to “channel millions of consumers into purchasing the conglomerate’s over-priced eyewear.” The consumers claim the unlawful collusion was concealed by an arrangement between the companies to keep the terms of their agreements from being publicly disclosed.

EssilorLuxottica didn’t immediately respond to an email seeking comment.

About 20 other luxury eyewear makers were also named as defendants in the suit.

The case is Fathmath v. EssilorLuxottica S.A., 23-cv-3626, US District Court, Northern District of California (San Francisco).

  • Published On Jul 22, 2023 at 05:18 PM IST

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