Nowadays, ray ban canada sale can be found selling for as much as $300 at high-end stores like Nordstrom (jwn, 1.34%) and Neiman Marcus. The brand recently opened its first flagship store, a sleek emporium within the heart of Manhattan’s shopping mecca, SoHo. And when you walk around capitals like London, Paris and Milan, it appears as if anyone remotely stylish is sporting the shades.
Yet not that long ago, in 1999, the emblem is in a shambles, using its once-pioneering wares on sale for $19 at countless service stations and convenience stores. And also the quality was awful: Ray-Ban was using antiquated tooling as well as its frames were flimsy.
It was actually at this rock-bottom point that Italian eyewear giant Luxottica bought Bausch & Lomb’s eyewear brands, with Ray-Ban as being the deal’s crown jewel, for $640 million in 1999. And as a result of an aggressive turnaround plan, Ray-Ban staged a remarkable comeback, one that it is working hard to help keep going. In 2000, Ray-Ban generated 252 million euros for Luxottica, or 10% of company sales. By 2014, that had risen greater than eightfold to 2.065 billion euros, or 27% of Luxottica sales. Ray-Bay now commands 5% in the global eye wear market, and it is the biggest sunglasses brand, in accordance with Euromonitor International data.
Before its decline, Ray-Ban had held a dominant spot in American popular culture, due to appearances in classic films from Breakfast at Tiffany’s to Top Gun. But seeking to boost sales, B&L transformed Ray-Ban right into a mass-market brand.
Audrey Hepburn sporting Ray-Bans from the film Breakfast at Tiffany’s. Photograph thanks to Paramount Pictures/Getty Images
In its capability to recover, Ray-Ban is one of the lucky ones. Few high-end brands that flirt together with the low-end live to inform the tale, ?as other brands have found when they’ve lowered prices within a bid to sign up for the “accessible luxury” market.? And so the Ray-Ban case instructive for several labels planning to win back their aura..
Luxottica’s Chief Marketing Officer, Stefano Volpetti, recently spoke with Fortune regarding how the organization returned luster towards the iconic brand name and what its doing to maintain the momentum going.
The Ray-Ban brand first emerged as being a major player in eyewear in 1929 if the Air Force asked Bausch & Lomb to develop a fresh type of eyewear that could protect pilots’ eyes from glare without compromising how well they can see. In 1936, Ray-Ban sold the resulting glasses, Aviator-style shades, to the public for the first time, and an American icon was created.
When Luxottica bought Ray-Ban, it says, the brand’s frames fell apart 4x faster than others of Luxottica’s other brands. In 2000, Luxottica consolidated manufacturing of ray ban 90 off from four outdated facilities in numerous areas of the world to your state-of-the-art facility in Italy, where Luxottica manufactured other brands in the portfolio. Northeast Italy is known as a hub for premium eyewear, using the additional advantage of proximity to quality parts suppliers.
Convenience stores and gasoline stations are not the best avenues for cultivating an upscale image. So Luxottica made the painful decision to exit 13,000 points of sale during the early 2000s, sacrificing revenue for the short term inside the belief that might pay back later. The company was making eyewear for luxury names like Bulgari, Chanel and Armani, so that it already had ins rich in-end stores. By 2004, Luxottica surely could leverage the improved standing of Ray-Ban to command higher prices again, selling the shades at Neiman Marcus and Saks Fifth Avenue. In 2000, a year after the acquisition, the starting price for a couple of Aviators was $79. Two years following that, who had risen to $89. And also by 2009, as Ray-Ban started using newer materials like lightweight carbon fiber and more sophisticated lens technology, the entry price had reached $129.”We found it necessary to clean the market of several pieces of low-quality, old Ray-Bans and clear the distribution,” says Volpetti.
In 2000, all Ray-Ban sales were for non-prescription sunglasses. Luxottica, tapping its core strength within the prescription-sunglasses area, brought Ray-Ban into its “optical” business three years later. Skip forward to 2015, plus some 30% of Ray-Ban revenues come from prescription glasses, which are generally pricier and much more profitable.
Ray-Ban also has moved into personalized products. In 2013, it launched Re-Mix, allowing customers for the first time to customize their glasses themselves by mixing different frames, materials and designs in 220,000 different possible permutations. Re-Mix now generates 40% in the brand’s online revenues. A year ago, Ray-Ban also started offering its shades in new and unusual forms, selling Wayfarers made of leather, denim and velvet, among other materials.
The company opened its first flagship in November, a 5,000 square-foot store in Manhattan’s hip SoHo area, that is Luxottica says is key to providing the kinds of experiences that can help Ray-Ban keep its market lead. Their grocer will provide live performances, film screenings, art shows and exhibits that showcase the brand’s long history.
Volpetti says Luxottica is set to utilize the teachings of your last fifteen years to successfully enter China. (Ray-Ban remains an overwhelmingly European and North American brand.) Which dexjpky53 selectively choosing what stores will carry the sunglasses in China, choosing better doors even if that means a slower entry. The marketing will emphasize Ray-Ban’s reputation of innovation and as the preferred sunglasses of the Hollywood set, something Volpetti says Chinese customers aren’t aware of yet.
Beyond China, the key to success for cheap ray ban sunglasses is to carry on and tap what managed to make it a top-notch name in the first place: good-looking shades that don’t try too hard to be fashion-forward, while boasting the newest technical advances. Such advances are the utilization in its Liteforce selection of super light and resistant material from the kind aerospace companies use. Ray-Ban is likewise about to launch its “Chromance” lens, which the company claims uses color enhancement technology so people can easily see colors and contrasts better.
“Provided that the emblem will continue to balance the two dimensions, technical innovation and counterculture stylishness, it’s likely to be fine,” says Joe Jackman, a retail industry consultant whose firm Jackman Reinvents targets brand revitalization. (Ray-Ban is just not a Jackman client.) “The manufacturer includes a clear and true DNA and as long it keeps the total amount they will read as authentic.”