Industry News

Ray-Ban Launches its Online Portal

India: Eyewear market is poised to fight off counterfeit products that have flooded online space in Indian market. Ray-Ban, the premium eyewear player has taken a bold step by converting its Indian website into an ecommerce platform. Previously the company’s website functioned as a reference point only.

Ray-Ban has been hit badly because of the proliferation of fake products on online platforms. Last year, Luxottica Group, the parent organization of Ray-Ban, dragged online player ShopClues.com to the Delhi High Court, accusing the ecommerce site of hosting counterfeit products and misleading customers by offering heavy discounts.

Online retailing is growing at a fast pace in India and to tap the market potential global companies like Puma and Adidas had launched their own ecommerce platforms in the country. In November 2015, India had eased its policy for global single brand retailers who sell items under one label and allowed them to offer their products through company-owned ecommerce portals.

Ray-Ban appointed Bengaluru-based firm Ace Turtle to manage its online platform, which is said to have extensive expertise and experience in managing online portals as the company already manages ecommerce websites for fashion and lifestyle brands of Puma, Flying Machine and French Connection, as well as furniture seller Evok.

According to TechSci Research, eyewear market in India is projected to register high growth in coming years as consumers are showing high preference for premium products in every category and are trading up from low priced products to premium priced products. The expected customer size is likely to be much higher as country is the youngest nation in the world with large number of youths with surging personal disposable income and improving employment opportunities. Besides, this move from Ray-Ban is likely to instill confidence amongst consumers that they are buying authentic products from the most reliable source and will help eyewear industry to grow further.

According to recent report published by TechSci Research, “India E-Commerce Market Forecast and Opportunities, 2020”, the country’s e-commerce market is projected to grow at a CAGR of more than 36% during 2015-2020. E-services segment, which comprises online travel, online payments, online classifieds, etc., is expected to continue its domination through 2020. However, the e-tail segment that includes electronics, apparels & accessories, health and personal care, etc., is expected to witness significantly higher market growth compared to e-services segment over the next five years. During 2015-20, the western region is expected to remain the largest e-commerce market in the country. Major players operating in India’s e-tail market include Flipkart, Snapdeal and Amazon.