Why are glasses so expensive?

For many of us, summer means a new pair of sunglasses. But bet your eyes popped when you saw the price tag.

The fanciest frames at LensCrafters often sell for $400-500. Holding those little assemblages of glass, metal, and plastic that cost $10-20 to make in your hand, you might wonder how exactly you were roped into paying so much.

The answer is basic economics. Most frames are manufactured by a single company, named Luxottica. The Italian company makes frames and sunglasses for an amazing list of brands and stores, including Prada, Chanel, Dolce & Gabbana, Versace, Burberry, Ralph Lauren,Tiffany...

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