Executive Summary

• The global eyewear market, which includes spectacles, sunglasses and contact lenses, was valued at $121 billion in 2016. This market is forecast to grow at a compound annual growth rate (CAGR) of 2.4% to reach $136 billion by 2021, according to data from Euromonitor.
• We believe there is ample room for disruption in the eyewear industry, due to: 1) the high margins of eyewear products; 2) the emergence of online as a distribution channel; 3) the long waiting times for custom eyewear products; and 4) the improvement in new technologies, such as 3D printing and online vision tests.
• We expect more startups and disruptors in the eyewear industry to improve the processing of and reduce the pickup time for custom eyewear products, as well as potentially lower margins by undercutting retail prices.