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Japan|Japan's Eyewear Market Boom

Dec 7, 2018.Ichiro KumegawaTokyo, JP
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OWNDAYS President Tanaka Shuji

President Tanaka Shuji (41 years old) of OWNDAYS CO., LTD. said in an interview with Senken News, "The Eyewear market still have potential and can go beyond." OWNDAYS company sales in February 2019 reached 20 billion yen (up 33% from last year), and is expected to reach 50 billion yen in five years, targeting 100 billion yen in 10 years. The company acquired a glasses company with an annual sales volume of 2 billion yen and a debt of 1.4 billion yen 10 years ago. It’s equivalent to reviving the brand and the most exciting part of the interview report is here, "The previous negotiations regarding the vacancy location for eyewear were difficult, however in the last three years, we managed to push through and now, the downturn for the apparel industry and commercial facilities have created an opportunity for us.” says president Tanaka, and he’s right. The shopping center has entered a hollow state with many vacancies. Many anticipate that filling these vacancies would be none other than Japan’s biggest discount chain store, Don Quijote. In addition, the markets largest eyewear groups PARIS MIKI (Miki Holdings), JINS, Zoff (Intermestic Inc.), and OWNDAYS mentioned above are sharpening their claws. It has become apparent that the apparel industry is in a rut and in its place emerges the eyewear industry. It has nothing to do with the demographic transition of the macro population. Because of the aging population consisting of the baby boom generation (1970s to ‘74) and the deterioration in children’s vision, corrective vision devices are growing in demand. Furthermore new forces are emerging to replace leading companies such as PARIS MIKI in the current eyewear market.

In fashion goods, clothing led the frontlines from the 1960s to the 1980s. It  then passed on to handbags starting from 1990 to 2008 (the Lehman Shock that occurred in 2008), after which shoes, and SLG (abbreviation for small leather goods) unit costs continued to pummel. And now, the time has come for glasses and sunglasses to become a product of sensible fashion with an expanding market.