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JUL 21: The Rs 330-crore domestic sunglasses industry is fast catching up
in India. Things are changing quickly, thanks to branded players’
blitz.
The domestic sunglasses industry, is dominated by glasses in the Rs
50-100 range, with no assured quality or design protection.
Although the Indian market is vast, it lacks design protection and is
largely dominated by unorganised players. But with people becoming
more brand conscious, the branded industry is also booming.
All branded players from Gucci, Armani to Dolce & Gabana at available
at showrooms in malls.
Although the market has not picked up as fast, whatever is launched in
Milan or Paris is immediately available here, says Harsh Chopra,
managing director, Ray Ban Sun Optics India.
The days of ‘restricted offering’ for the Indian markets are long
over. All the big brands with their complete models are available here
on Friday, says Mr Chopra, noting that the markets will now have to be
tapped by brands.
A big headache for the branded players is also the grey market. One
can find local players selling cheap glasses at road side.
These glasses are also available at opticians and local markets even
though they may be harmful to eyes.
The sunglasses trade too is very scattered, with no power centre, says
Bijou Kurien, chief operating officer, Titan.
Grey and unorganised sector together make up around Rs 200 crore of
the market.
Big brands in the grey market are available around 35% cheaper, Mr
Kurien says. Of the Rs 330-crore Indian market, the organised sector
(branded players) comprises only around Rs 100-crore share.
The rest are all small-time local players, selling products in the Rs
50-100 range and the grey market, Mr Kurien says. In the past few
years, things have started changing. The MTV culture has made young
Indians aware of the latest trends in eye-wear.
(The Economic Times)
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