As if it is the news: EssilorLuxottica monopolized the market, inflate the prices tenfold
Finally, authorities managed to address the decades-old problem
EssilorLuxottica is being sued in the United States for allegedly inflating prices by up to 1000 percent. This was reported by the Bloomberg news agency on Saturday.
The world’s largest eyewear manufacturer, known for brands like Ray-Ban and Oakley, is said to be the “instigator and main perpetrator” of price-fixing in the American market. The lawsuit reveals that twenty other eyewear manufacturers also participated in these price-fixing agreements.
According to the class action lawsuit filed by consumers in a federal court in San Francisco, EssilorLuxottica is accused of making illegal agreements with entities such as Frames for America and For Eyes Optical.
Furthermore, a subsidiary of the French-Italian company, EyeMed, allegedly made agreements with opticians in the US that limited competition and prompted millions of consumers to purchase EssilorLuxottica’s overpriced glasses.
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