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Ray Ban Brand Investigation
Transcript of Ray Ban Brand Investigation
Stakeholders for Ray Ban are as follows:
Luxottica (owner Leonardo del Vecchio),
Employees working for Ray Ban around the world store: employees and main HQ and other office employees.
Customers- that wish to buy Ray Ban products (Ray Ban inspires to be a vital community member amongst the customers, the company does this by the use of charitable projects, quality goods, celebrity endorsement, etc),
Cinalazaro- main supplier for the Wayfarer and Aviator style glasses for Ray Ban.
Vission and Mission
We at Luxottica aim at protecting the eyes and enhancing the faces of men and women all over the world, by manufacturing and selling ophthalmic eyewear and sunwear characterized by their high technical and stylistic quality, in order to maximize our customers' wellbeing and satisfaction.
Founded: a brand founded by an American company Bausch & Lomb in Rochester, New York in 1937.
Industry: - Ray-Ban falls under retail industry. Also it is involved in consumer discretion sector; meaning the goods that are sold are not necessities and have a soul purpose.
Profit/non-profit organization: Ray Ban is a profit organization. The reported net profit for Ray-Ban is 20.66. in Rs.Cs.
Employees (Mic,S,M,L) : 55,000 employees approximately. Ray Ban is a Large business;they have 200+ employees.
Incorporated/unincorporated: Ban is an unincorporated brand; they fall under sole proprietorship since Luxottica owns Ray Ban completely.
Main business sector: Ban is placed under the Tertiary business sector. Ray Ban is only involved in the selling of the product. It does not make its own glasses; Luxottica carries out the manufacturing of Ray Ban glasses. The company is called Luxottica, and it made 75 million glasses last year including Prada, Tiffany & Co, Coach, Versace, Bulgari, Chanel, Dolce & Gabbana, Ray-Ban and more.
The brand has a range of different products, for instance the most popular ones are:
• The New Wayfarer RB5184
• The Timeless RB5228
• The Clubmaster RB5154
• For Her RB5255
• The Carbon Fiber RB8411
Ray-Ban: Market Share for India is 30% reportedly.
7000 stores in USA alone.
Strengths and opportunities-
Ray Bans come in numerous styles and various color options including custom building your own Ray Bans.
Ray Bans appeal to all ages of all generations. Also 100% proven protection from the sun. Sunglasses mainly appeal to customers.
Partnerships that Ray Ban has help to publicise products and appeal to similar target audiences.
‘Never Hide’ and ‘Define Yourself’ campaigns contribute in publicizing products to customers.
Ray ban is famous amongst actors such as Tom Cruise whose movie ‘Top Gun’ 1986 singlehandedly raised the sales of Ray Ban Aviators by 40%.
Threats and Weaknesses-
other Ray Ban inspired brands are taking the customers from Ray Ban and are also selling for a cheaper price.
Ray Ban glasses are worth somewhere between $100 -$200+.
Customers see the trend made by Ray Ban with the Wayfarer sunglasses will soon be predicted to decrease.
Oakley: Market Share in India 50%. There are 200 Oakley stores throughout Europe, Mexico, Asia-pacific region, US.
Strengths and Opportunities-
Oakley is known for technological frames and HD optical lens.
In terms of protection, clarity and optics Oakley is preferred over Ray-Ban by many.
Oakley specialises in sport eyewear to optimise the performance and vision of athletes around the world. Thus having a wider range of products than Ray-Ban.
Also is a very strong contender in providing high definition optical lenses.
The price range is higher than that of Ray Ban: $100-$300. The price range is affordable in terms of the quality of the Clarity and vision in the Oakley products.
Weakness and threats:
Laser surgery is a big factor that may affect the sales of Oakley. Oakley will mainly be affected because customers usually head for stylish looks once they don’t require optical lenses.
In the field of stylishness Oakley isn’t a very strong contender. This is also a problem for almost any brand.
Strengths and opportunities:
Persol products especially sunglasses is used by pilots, motorbike racers, and race car drivers.
Persol is known mostly as the best brand for optimal eye protection from the sun with leading polarized lenses.
Persol sunglasses are durable they last for up to two years.
Steve McQueen brought about the rise of the Persol brand mainly by the use of the ‘Persol 714’ product.
From then on the Persol brand is widely acclaimed amongst celebrities. This can be seen by the massive price range: $200-$400.
Weakness and threats: The price is pretty high so it can be concluded that these products aren’t for everyone, unless if you are a wealthy individual.
All of the brands outlined above are owned by Luxottica which is an International Italian company. Luxottica is a giant in eyewear retail. Luxottica has 61.85% market share of the worldwide manufacturing of glasses.
INdigenous Design Competition for charity
Ray ban recently started a charitable competition with a partnership with Onesight (a Luxottica charity group). The competition is to find a unique and stand out Indigenous artwork that will be printed on limited edition Wayfarer sunglasses. The competition is created to promote the importance of vision and eye care in Indigenous communities. This competition is directed at Aboriginal artists who would like to show their importance of vision through cultural artwork. The proceeds made from the limited edition Wayfarer sunglasses, will give Onesight a boost into their community program which involves: free glasses, check-ups and just vision in general for the aboriginal (low socio-economic and indigenous individual).
The winner of the competition will receive $10,000, along with their artwork to be presented alongside the product launch at a National Exhibition.
leonardo del Vecchio
Competition- with other leading brands such as Oakley this is important because it could result in sales and profit decrease for Ray Ban,
Trends- it is sometimes impossible to control what is favoured by customers unless if you have celebrity endorsement in your business. That way the larger community will be more influenced in buying products. Other than that it is almost impossible to start a trend. In the case of Ray Ban; the Wayfarer style sunglasses are in high trend at the moment.
Imitation of products- The Wayfarer style sunglasses are being implemented in other products made by other organisations (mainly small businesses and medium businesses or large retail stores). The main factor is that other organisations sell the same style of product but at a smaller more affordable price, thus stealing Ray Ban customers.
Consumer confidence- Ray Ban has a major problem when it comes down to other individual/organisations selling fakes of Ray Ban products. Costumers have an issue with sorting and identifying fakes. This can make customers feel hesitant in buying products at small business stores that have products supplied by Ray Ban.
Employees and sales individuals at Ray Ban stores.
Sunglasses and Eyeglasses (Wayfarer, Aviator, etc)
Plastic, screws and glass for glasses manufacturing.
Opening and closing hours are from Monday - Friday:
8 am - 8 pm (EST)
Last year 50 000 ray ban sunglasses were sold
Money for quick orders and deliveries. Money for employees wages.
- To increase sales and revenue by 20% monthly.
- To save up for a new colorway or style of Wayfarer sunglasses over a 2 month period.
Non Financial Goals:
- To increase employees interest in business. So as to improve loyalty, effort and attendance.
- To improve companies public image. This is done by giving back to the community and obtaining a strong relationship with in the media.
The business started as anew. Then in 1999 the brand was sold to Luxottica and is now an existing business/brand. The business started out with a conversation between Bosch & Lomb and Lieutenant General John MacCready of the US Army Air Corps in, 1929. John MacCready said that his pilots required aviation sunglasses to protect pilots from the nauseous and headache symptoms of the rays omitted by the sun; at the same time being fashionable. In 1936 a prototype was created that would help with reducing the harmful rays of the sun whilst at the same time keeping vision clear. It was later remodelled with metal frames. May the 7th of 1937 marked the birth of the ‘Ray Ban Aviator’ sunglasses. ‘Ray-Ban’ literally means the ban of rays emitted by the sun.
Lieutenant John MacCready
Ray ban does not have an individual Ray Ban store. The products are usually sold on the internet from websites such as Sunglasshut (main dealer of Ray Ban glasses also owned by Luxottica)
Ray Ban products are nowadays mainly sold in eye care stores and optical check up centres such as OPSM and Sunglass Hut. These stores are a hot spot for brands similar to Ray Ban because of, when a person is told of their vision problems they find it convenient to buy a pair of glasses/sunglasses at the store they are in. These retail stores are mainly located in Shopping malls or if in suburban areas are located in town centres next to other retail stores and small business stores or also can be found on main roads.
Ray Ban does not have an individual vision and mission statement. Although Luxottica does have one:
strengths and opportunities
Maui Jim have a lot of range, variety and quality products. Another good aspect of their business is their connection to social media (facebook, twitter, etc)
wEAKNESSES AND tHREATS
Maui Jim is miniscule compared to other brands. They have a small market share and not much exposure to the wider community meaning they are not recognized by other customers and are not good contenders in the eyewear market. The use of celebrity endorsement is what keeps the brand afloat.