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 percent.
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).
By Joel Rosenblatt
Read more:
Ray-Ban Maker Essilorluxottica’s Sales Rise on Solid European Growth
Luxury eyewear maker EssilorLuxottica on Thursday reported a rise in fourth-quarter revenues, citing sound growth amid a challenging environment, but its performance in China declined because of Covid-19 restrictions.
Stay connected with us on social media platform for instant update click here to join our Twitter, & Facebook
We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.
For all the latest Fashion News Click Here
