HKTDC Hong Kong Means Business

Hong Kong Means Business Hong Kong Means Business
  • Login / Register

Languages

  • EN
  • 繁
  • 简
SUBSCRIBE
  • EVENTS
  • MY FEED
  • CONTACT HKTDC
  • ABOUT HKTDC
  • hktdc.com

Section Menu

  • multimedia
  • market spotlight
  • first person
  • Venture Hong Kong
  • heads-up
  • inside china
  • life & style
  • hktdc research
  • Login / Register

Languages

  • EN
  • 繁
  • 简
SUBSCRIBE
Hong Kong Means Business

Section Menu

  • multimedia
  • market spotlight
  • first person
  • Venture Hong Kong
  • heads-up
  • inside china
  • life & style
  • hktdc research

https://hkmb.hktdc.com/en/1X0AK5AB

venture hong kong
SAVE FOR LATER
SHARE / SEND

"Scan QR Code" in WeChat and tap "..." to share.

Innovators make mark on eyewear

As the optical industry booms across the world, start-ups are integrating technology and environmental protection elements into spectacles through the direct-to-consumer sales model.

09 March 2020

Hong Kong International Optical Fair
The seminar took place during the 27th edition of the Hong Kong International Optical Fair

Digital start-ups are moving into the eyewear industry. Underlining the trend, market research agency Coresight Research discussed overseas start-ups’ experiences at a seminar during the 27th edition of the HKTDC Hong Kong International Optical Fair in November 2019, organised by the Hong Kong Trade Development Council. The seminar was designed to help the city’s small and medium-sized enterprises develop business strategies.

Direct marketing cuts costs

Albert Chan
Albert Chan, Head of the Hong Kong Office for Coresight Research, expects online sales of eyewear to grow

Coresight Research, which provides data-based market analysis for various industries worldwide. The agency estimated the total global eyewear market reached US$127 billion in 2018 and is expected to rise to US$141 billion in 2023. Physical stores account for 87% of global eyewear retail sales, the rest are online market sales, and it is expected that online sales will increase steadily in the future.

Albert Chan, Head of the Hong Kong Office for Coresight, said four giant companies dominate the global eyewear market - Essilor Luxottica, GrandVision, Johnson & Johnson and Alcon - but innovative start-ups are making their mark on online and offline glasses markets.

One novel method is the Direct to Consumer (D2C) model, which could reduce the retail price 90%, attracting price-sensitive customers to find new products at affordable prices and speed up the product-replacement cycle, Mr Chan said.

As product customisation and personalisation become a trend, 3D printing technology enables eyewear manufacturers significantly reduce production time and bring diversified eyewear products to consumers, he said.

Giving Lithuanian start-up Dear Deer Eyewear as an example, Mr Chan said the company uses 3D printing technology to field orders. A New York start-up King Children uses 3D projection software to map customers’ faces and make unique glasses for their unique characteristics.

New reality

Mr Chan said new digital technologies led start-ups to enter the eyewear market. As smart glasses become more popular, technology suppliers and lens manufacturers had been encouraged to study smart optical solutions and develop augmented reality (AR) glasses.

Lenses developed by Korean start-up LetinAR were a good example of this, he said. The company’s lenses can reflect light from a miniature display and direct it into the pupil, enabling users to simultaneously view virtual images and see real-world images through the miniature display.

Green glasses

A survey by Coresight Research showed that the four major products in the global eyewear market are lenses, eyewear frames, sunglasses and contact lenses. As customers pay more and more attention to environmental protection, the potential for sustainable eyewear products is huge, Mr Chan said.

"This is creating space for start-ups to develop new products and set them apart from their mass market competitors," he said.

One promising area is alternative materials. A start-up from Ukraine, Ochis, has developed what it describes as the world's first eyeglasses made with coffee grounds.

Australian eyewear company Dresden Vision uses a closed-loop injection system to turn empty shampoo plastic bottles into frame material, saying the entire process does not have any negative impact on the environment.

Related link
Coresight Research


BACK TO TOP ^
CONTENT PROVIDED BY
    Topics:
  • Eyewear,
  • Hong Kong,
  • optical fair,
  • MedTech
  • Eyewear
  • Hong Kong
Home

Article Topics

ARTICLE TOPICS

EYEWEAR24658
HONG KONG36026
OPTICAL FAIR92543
MEDTECH141964

ARTICLE TOPICS

EYEWEAR24658
HONG KONG36026
OPTICAL FAIR92543
MEDTECH141964

Innovation terms banner block

Social Share

FOLLOW US

GET WEEKLY UPDATES

newpaper-img

GET OUR WEEKLY EMAIL UPDATES

banner-img


I acknowledge that the above information may be used by the Hong Kong Trade Development Council (HKTDC) for incorporation in all or any of its database for direct marketing or business matching purpose (and may therefore become available to the public within and/or outside of Hong Kong for use by them), and for any other purposes as stated in the Privacy Policy Statement; I confirm that I have the consent and the authority of each individual named in this form to release their personal data for the purposes stated herein.


*For non-EU/EEA customers, please skip this box which is solely for EU/EEA customers as required by the relevant data protection law in the EU.

THANK YOU

Thank you for registering.

interest_article

YOU MAY BE INTERESTED IN

07 April 2021

Start-Up Hong Kong: Optimising Opportunities in the Greater Bay Area

01 April 2021

State Department Says Hong Kong Still Does Not Warrant Differential Treatment from Mainland China

31 March 2021

Hong Kong Toy Story: Trending Toys and Proprietary IP

29 March 2021

Navigating Covid-19: A Film Enthusiast

Related Events

RELATED EVENTS

28 April - 2 May 2021

HKTDC Lifestyle ShoppingFest 2021

7 - 10 August 2021

HK Atlier at The Inspired Home Show, Chicago, USA

10 - 12 November 2021

HKTDC Hong Kong International Optical Fair 2021

28 - 31 March 2022

Hong Kong Pavilion at FHA–Food & Beverage, Singapore
FIND AN EVENT

User login

  • Create new account
  • Request new password

Footer Menu

  • hktdc.com
  • ABOUT HKTDC
  • MEDIA ROOM
  • TERMS OF USE
  • PRIVACY POLICY
  • SITEMAP
  • 京ICP备09059244号

Footer Logo

Copyrights

Copyright © 2021 Hong Kong Trade Development Council. All rights reserved.

SHARE THIS STORY

EMAIL
LINKEDIN
WeChat
FACEBOOK
TWITTER
WHATSAPP

ID: HKTDCofficial

Don't have an account?

Create An Account

successfully added on your preferences.