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Prominent market players in the market are focusing on strategic alliances, such as collaborations, partnerships, mergers, and acquisitions to widen their product portfolio, design innovative products, and expand their global footprint. For instance, in October 2018, Luxottica Group S.p.A. and Essilor International collaborated to build the combined holding company, EssilorLuxottica. The new firm caters to the growing demand for luxury eyewear and changing customer preferences across the globe.
Some of the prominent companies operating in the luxury eyewear market share are: