Eyewear & Ophthalmology Equipment Show - Milan Italy (Z1232)
Deputy Minister Dario Galli
visits the show
MIDO honors most attractive optical stores, explains eyewear consumer habits, is a business barometer
Milan, 24 February 2019. The 2nd day of MIDO (the international eyewear trade exhibition taking place at Rho Fiera Milano), was a Sunday spent in the world of eyewear, rubbing shoulders with public officials and celebrities, including Fabrizio Corona, Valeria Marina and Cecilia Rodriguez; awards bestowed on the most alluring eyewear stores in the world; and some intriguing surveys that measured market trends and consumer habits around the globe.
“Eyewear is an Italian tradition that, between major brands and SMEs, is now a leading global industry. This leadership also raises its head in pop culture where the bespectacled stars in TV movies are probably wearing Italian frames or shades. MIDO epitomizes the manufacturing prowess of the industry,as well as its ability to innovate, fueling a shared objective to propel high-quality Italian eyewear into the future”, stated Dario Galli, Italy’s Vice Minister of Economic Development.
The Ministry’s number-two met with MIDO and ANFAO President Giovanni Vitaloni at what has become one of the most eagerly anticipated events: the Bestore awards honoring the most magnificent optical stores in the world, chosen from among the many candidates from 35 countries. The winning stores are located in Buenos Aires and London. Argentina’s Infinit Eyewear received the BESTORE DESIGN award while Kite, located in Shoreditch in the he art of London, received the BESTORE INNOVATION award. The jury singled out Infinit Eyewear for the way its layout, materials, design, and furnishings contribute to creating an unforgettable shopping experience for eyewear enthusiasts in Buenos Aires. The award to Kite based in Redchurch Street in London was based on the superb quality experience customers enjoy in this shop where they receive a one-on-one style consultation with an eyewear expert in their own booth, state-of-the-art eye exams and sip an exclusive Bompas & Parr coffee or drink at the Eyebar.
Research was also center stage at the show today with the presentation of key findings about the eyewear market, consumers, trends, and designs. For MIDO, global trend analyst and forecaster WGSN studied the evolution of styles and trends in eyewear delivered in the “Accessories and Eyewear Forecast” presentation. Two classic MIDO surveys were also presented: the OMO-Optical Monitor, essential to understanding consumer behavior in the four global macro-markets, and MIDO Outlook, barometer of the eyewear market.
GFK unveiled the need-to-know findings of the 9th Optical Monitor survey. The study examined eyewear purchase patterns and trends of nearly 5,000 consumers in China, Russia, the US and Japan. Regarding purchase channels, data indicate that the lion’s share of shopping is still done offline; but, the popularity of online purchasing is growing across all continents and, above all, in Japan, where its growth is double-digit. Quality is the main driver for choice. Brand now plays a secondary role. Only in China, where consumers consider eyewear products true status symbols, is it still a key driver. In terms of market segmentation, the main consumer clusters claiming 55% of revenue streams are Sunglass Lovers, successful people keenly aware of their image; and the Young Fashion Hunters, young people who choose to allocate their (albeit limited) budget to new trends. Interestingly enough, these clusters are found not only in the four macro markets studied but also in the five top European markets – Germany, France, the UK, Spain and Italy, as pointed out in the last edition of the Optical Monitor – an unexpected finding, given the cultural and sociological differences between the Old Continent and the countries analyzed.
The 3rd edition of MIDO Outlook took stock of the current global eyewear market and future expectations. The 1320+ businesses surveyed in 98 countries by GRS viewed the current market as stable. On the brighter side, more than half the respondents (53%) expressed confidence in the future, especially in America and Oceania. As to concerns, the interviewees all viewed fiscal, bureaucratic, and regulatory issues, as well as retail prices and cost of labor, as the trickiest challenges they’re facing. Exports remain a key factor for companies; 40% of them generate more than half of their income abroad (with Western Europe and America the top consumers). The United States is the foreign country with the most networks around the world, while China is considered the one with the greatest future potential. In-depth analysis of the market reveals that opticians remain the favored channel for connecting with clients, although future investments will increasingly focus on e-commerce. Still speaking of distribution, private labels have cornered 35% of the market and are generally considered an attractive bet for the future. The area with the greatest expected market growth is IT systems for the eyewear world. Finally, with a view to staying abreast of the times, companies still consider trade shows the most effective tool for boosting their business (76%), followed by Internet websites (66%) and social networks (55%).
Eyewear & Ophthalmology Equipment Show - Milan Italy (Z1230)
Record - setting number of exhibitors for the international eyewear show – focus on continuity pays dividends
A record-setting MIDO, the 49th edition of the world’s leading eyewear show, opens tomorrow in Milan with 1,323 exhibitors, 110 of themfirst-timers, occupying 52,000+ m2 of net exhibit space.
Saturday to Monday, the 7 completely sold-out pavilions of Rho Fiera will host the top Italian and international players, manufacturers and buyers, designers, entrepreneurs, opticians, ophthalmologists and the entire global eyewear supply chain, keen to meet in Milan every year. The unpredictable but fantastic numbers, mirroring last year’s record, reflect enormous confidence in the trade show tool, the best way to begin the journey toward
MIDO’s 50th anniversary, coming in 2020. “The industry is vital and conveys confidence – remarks MIDO President Giovanni Vitaloni.
MIDO is approaching its historic half - century milestone in a climate that, despite international economic uncertainties, is still encouraging for our industry.
This is reflected in record levels of participation by exhibitors who eagerly bring their A - game to the leading industry trade event, full of energy and determined to pave the way to future success. For them, and for the droves of visitors we expect to see, we have prepared a MIDO filled with creative insights.”
The Ministry of Economic Development actively supports MIDO, which it sees as a pivotal event in promoting the growth of the country’s economic system. This is why 150 top buyers and
international journalists (in addition to the tens of thousands of pre-registered visitors), have been invited to attend MIDO. Thanks to the hosted buyers program orchestrated by the Italian Trade
Agency (ITA), they will have the opportunity to visit the show and experience the industry’s best first-hand.
MIDO’s gaze is focused on the future of eyewear. Proof of the rapid developments occurring in Italy and abroad is the expansion of the MORE! Pavilion and Lab Academy, the incubator of ideas, where companies that craft the most innovative products and apply cutting-edge business formulas are invited to display.
MIDO also offers unique insights to where global eyewear styles and trends are headed. Thanks to its partnership with authoritative trend forecaster, WSGN, projections of the most contemporary
and future-forward influences in product and lifestyle evolution will be revealed at the show.
“Not just about business – continues Vitaloni – MIDO is a true design show with the spotlight on eyewear.
A walk through its pavilions offers a full-immersion experience of futuristic sitting rooms, LED floors and gigantic lenses: a journey that sparks emotions and offers unrivaled opportunities for deepening insights.”
MIDO 2019 is fully invested in professional training and information at Otticlub, where the latest market data and product trends will be unveiled.
These include presentation of optical-industry studies and research
on Sunday,beginning with the semi-annual Optical Monitor, developed by GFK for MIDO and SILMO, a survey of eyewear purchase and use patterns of consumers in China, Russia, the
USA and Japan; and the 3rd edition of MIDO Outlook, the eyewear industry barometer.
The show will again honor the leading global optical shops. This year, BESTORE received entries from more than 35 countries for the Bestore Design and Bestore Innovation awards. The former
focuses on stores whose outstanding layout, materials, design and furnishings contribute to creating an unforgettable shopping experience; while the Bestore Innovation rewards the most
outstanding shop in terms of new ways of engaging in customer service, interacting with suppliers, communication, store history and professional, human and emotional aspects. The awards ceremony
takes place Sunday, February 26th, in the Fashion District plaza.
The wonder of MIDO will be broadcast live on MIDO TV featuring celebrities, exhibitors, opticians and eyewear devotees in non-stop
programming all 3 days of the show.
Thanks to a live streaming channel, TV content can be viewed
immediately at 3 dedicated locations, on the MIDO YouTube
channel and, of course, on the MIDO APP.
For real-time updates on all the events and to ‘live the wonder’ in all its dimensions, the new MIDO APP can be downloaded from Google Play and App Stores. The #MIDO2019 app was
completely redesigned to ensure a unique experience for visitors and exhibitors at the leading international eyewear show. A new tool that strengthens the dialog between exhibitors, buyers
and visitors, the app makes it possible to get your entry pass, browse the catalog and contact optical companies, follow events like the 2019 Bestore Awards, watch MIDO TV and, with the “myCard” function, create your own digital business card to easily
share with other #MIDO2019 participants.
Maintaining its clear focus on social media, the show will offer custom content on its official channels, especially on Instagram (@mido_exhibition), as well as posts through Stories, Facebook
(@MIDOExhibition), live broadcasts, and live tweets on Twitter (@MIDOExhibition).
Hashtags for the 49th edition are: #MIDO2019 and #Livethewonder.
Let the Wonder Begin!
Eyewear & Ophthalmology Equipment Show - Milan Italy (Z1231)
2018: A "WAITING“ YEAR FOR ITALIAN EYEWEAR
EXPORTS PICK UP IN THE SECOND HALF OF THE YEAR AND CLOSE SLIGHTLY ABOVE 2017 AT 3.7 BILLION EURO, UP BY +1.1% DOMESTIC CONSUMPTION LAGS, BUT PRODUCTION AND EMPLOYMENT ARE UP
Mido International Press Conference
THE GENERAL CONTEXT
The general context is not exactly brilliant; global commerce is down and global trade remains weak due to ever-growing uncertainties.
Among the many factors aggravating this state of uncertainty
are protectionist policies, tensions between the USA-China and in other areas (Iran, Venezuela), and the Brexit quagmire.
The Eurozone economy keeps growing at a slow but steady pace, with new jobs and lower unemployment driving up consumption, albeit still restrained by the general lack of confidence.
The ECB bond-buying (quantitative easing) program ended, and
although a monetary stimulus is still needed, easing restrictions
on long-term interest rates might cause them to rise, hence also
increasing the cost of credit.
The strong growth in the USA is also not immune to risks; the longest government shut-down in American history, which started at the end of 2018, might severely affect the GDP and hinder
At the end of 2018 the Chinese economy showed further signs of slowing down.
Exports and imports decreased, while restrictive credit policies aimed to offset and rebalance excess production capacity hindered investments.
In mid-2018 the government enacted economic incentives,
but private debt remains high.
Regretfully, Italy continues to slow down.
Exports are on a downslide, domestic demand is very weak, employment is stagnant, business confidence is lower and so are investments in 2018.
The Italian eyewear industry results reflect the above illustrated situation.
Export-wise, 2018 was stagnant.
The year certainly got off to a bad start, also because of adverse weather conditions postponing the sunglasses season. Exports however picked up pace late in the year, and ended up being
Slightly higher than 2017.
The domestic market at this point is unfortunately in a state of recession. Consumption decreased, and 2018 closed with negative results.
PRODUCTION, COMPANIES AND EMPLOYMENT
In 2018, Italian eyewear production totaled 3,865 million Euro, up by 1.6% from 2017.
Although 2018 was a moderately stable year for the eyewear industry, the sector's growth exceeded the national average.
The number of companies essentially remained the same with
867 businessesnati onwide, 4 more than last year.
Employment perspectives are good, especially because of substantial investments by the largest companies in the
Nearly 400 jobs were created. Without accounting for the
different types of contract, at the end of 2018, the eyewear
industry had 17, 673 employees, up 2.3% from 2017.
EXPORTS AND TRADE BALANCE
Exports of frames, sunglasses and lenses, accounting for 90% of the sector's overall production, remained more or less in line with 2017, rising slightly by 1.1%, for a total of 3,378 million Euro.
(Preliminary forecast by ANFAO based on the latest ISTAT data for January-November 2018).
In 2018 sunglasses exports were up by 1.2%, totaling approx. 2,525 million Euro.
Exports of frames increased by only 0.4%, totaling about 1,128 million Euro.
Imports increased by 3.8%, totaling close to 1,270 million Euro, thereby confirming the liveliness of the sector.
The Italian eyewear industry trade balance continues to be largely in surplus, (2,468 million Euro export/import balance in 2018), about the same as 2017.
EXPORTS BREAKDOWN BY GEOGRAPHICAL AREA AND COUNTRY.
Exports recovered in the last few months of 2018, especially in October and November, causing the optical-sunglasses year-end results to rise slightly above 2017 (+0.9%).
In some geographical areas however this recovery did not suffice to close the gap and offset the decline in exports suffered in the first part of the year.
Therefore, only Europe and America, which respectively account for 49.7% and 32.3% of the industry exports, posted growth higher
than the overall average.
Analysis of the two macro-product segments, frames and sunglasses, reveals differences in contribution to growth, primarily tied to the performance of sunglasses.
Analysis of the overall exports of sunglasses and frames in relation to specific geographical areas, shows that:
➢The main market for eyewear exports in 2018 continued to be
Europe, with a growth trend of 2% (+2.5% for sunglasses, 1.2% for frames).
➢In 2018 sunglasses-frames exports to the Americas were 2.2% higher than in 2017 (+4% for sunglasses, + -2.3% for frames).
We should also note the different growth within the two Americas:
in North America recovery and growth were solely attributable to
sunglasses, while frames played that role in Central and South America.
➢Asia, which now claims 16% of Italian sunglasses and frames
exports, suffered a 2.2% decrease in 2018. An opposite
performance was reported for exports of sunglasses (-3.9%)
and frames (+3.9%).
Also, given the extensive size of the Asian continent, we should note that the sunglasses negative trend primarily originated
from Western Asia.
➢Africa currently claims less than 2% of the industry current
exports, but its growth potential might be good, although yet untapped.
In 2018 the value of frames exports increased by 4.2%, while that of sunglasses dropped by 23.9%.
Overall, exports to Africa plummeted by 16.2% compared to 2017.
➢Oceania remains a marginal export area, with a less than
0.5% share. The value of Italian sunglasses and frame exports in 2018 dropped by 19% from 2017, with both sectors following the same trend.
➢With regard to imports, Asia remained the leading supplier market with a share close to 75% in 2018, almost solely attributable to
The exports analysis by country reveals that:
➢For the United States, (which has traditionally been the eyewear industry main exports market, with a share above 26%), overall exports of frames and sunglasses increased by 2.7% over 2017. Growth was mostly attributable to sunglasses, up by 5.9% in value.
The opposite trend applied to frame exports, down by -5.6%.
➢The trend of Italian exports towards different European counties reflects the general economic situation and the leading countries' slightly slower-paced domestic consumption.
Hence lackluster results were observed for traditionally relevant export countries while excellent performances were posted
in North and Eastern European countries that are just starting to
show an interest in Italian products.
In 2018 exports of frames-sunglasses to France essentially remained the same as in 2017 (-0.1%).
Frame exports fared well with a 4.1% growth trend, while sunglasses exports were down by -3.1% compared to 2017. Italian
eyewear exports to Germany were sluggish, as overall sales decreased by 1.4%, with sunglasses exports up by +1% and frames down by -4.9%.
The trend for exports to Spain was even worse, down by 4.2% from 2017 (-6.3% for sunglasses and +1.2% for optical frames).
The results for exports to the United Kingdom should be considered separately, as last year's good performance might have been fueled by preemptive purchases driven by Brexit-related concerns
regarding future export tariffs (especially for sunglasses).
Overall, exports were up by 7% from 2017 (+11.1% for sunglasses,
-2.4% for frames).
Overall exports to the Netherlands registered a 9.9% increase in 2018 (+11.7% for sunglasses, and +7.1% for frames).
As initially stated, some North and Eastern European countries
are seemingly starting to show interest in Italian eyewear. These two areas have good potential although their shares are still low.
Remarkable Italian eyewear exports were in fact reported for
Sweden and Norway in the North, and Poland and Hungary in the East.
In Sweden overall exports for 2018 increased by 23.7% (+32.2% for sunglasses and +12.9% for optical frames); in Norway exports were up by 21.4% (+17.6% sunglasses and +28.8% optical frames); in Hungary the overall trend rose by +18.2% (+21.4% sunglasses and +7.7% optical frames); lastly, for Poland overall exports of optical frames and sunglasses recorded a 2.9% increase from 2017 +2.1% sunglasses and +3.5% optical frames).
➢Let’s now conclude with a look to the eyewear export trends for the industry "emerging" countries.
From a market share standpoint these numbers are still
unremarkable, but some are starting to be noteworthy, especially in view of the circumstances.
Such is the case with China, which now claims an overall share of the eyewear industry exports in excess of 5% (5.1% in 2018).
Clearly it's still quite low for a country as large as China, with far greater potential, but this share nonetheless affects the industry's
exports and might determine its overall results.
Listed below, ranked according to their current Italian eyewear industry export market share, are the 2018 trends for these
China -2.6%(-1.4% for sunglasses and -6.3% for frames)
Mexico +14.2% (+13.4% for sunglasses and +15.7% for frames)
Turkey -1.1% (+0.5% for sunglasses and -7.9% for frames)
South Korea + 1% (-0.4% for sunglasses and +42.1% for frames)
United Arab Emirates -6.1% (-12.4% for sunglasses and +22.6% for frames)
Brazil -6.8% (-11.3% for sunglasses and +0.7% for frames)
Russia +0.5% (+1.5% for sunglasses and -0.9% for frames)
Israel -19.7% (-25% for sunglasses and +0.2% for frames)
South Africa -9.7% (-17.3% for sunglasses and +11.4% for frames)
Japan +10.4% (+6.8% for sunglasses and +18.1% for frames)
Saudi Arabia -28.8% (-30.4% for sunglasses and -24.1% for frames)
India +18.6% (+18.1% for sunglasses and +19.8% for frames).
THE ITALIAN GLOBAL EXPORT MARKET SHARE
According to the latest data, the global export market for sunglasses and frames estimated worth was 18 billion Euro in 2018 (-1%), about the same as 2017, while Italy's market share
was 21%, slightly higher than in 2017, and second only to China.
If only high-end exports had been taken into account, Italy would still be in first place with a share close to 70%.
EXPORTS BY VOLUME
Overall, the Italian eyewear industry exported about 103 million pairs of eyeglasses in 2018, about the same as in 2017 (-0.2%).
Of the overall total pairs exported, 69 million were sunglasses (67%) and 34 million were optical frames (33%).
More specifically, the exports volume for sunglasses (-01%) and frames (-0.3%) remained stable compared to last year.
THE DOMESTIC MARKET
In 2018 the domestic market suffered yet another setback, and closed in negative territory for the second consecutive year.
Sell-in figures compiled by ANFAO show a 0.8% decrease in
Sell-out figures, and therefore consumption, reported by GfK for
Specialized eyewear channels are down by 0.7%, for an overall value of nearly 2.9 billion Euro.
Sunglasses and optical frames were the most affected (-4.9% and
-4.6% respectively), while optical lenses seemed to hold and increase in value (+2.5%), especially due to the high refractive index and progressive lenses market sectors.
The market trend for frames and sunglasses remains focused on high-end (luxury), and low-end (i.e. private label products), to the detriment of mid-high range offerings.
Also with regard to sunglasses, the market share of traditional optical channels continues to decrease and shift in favor of online sales channels.
The overall forecast for 2019 is not exactly brilliant, and many factors might further undermine growth, including Brexit, the end of Draghi's quantitative easing program, the USA-China trade conflict, the European elections, the global economy slowing down, Federal
Reserve interest rate hikes, and lower crude oil prices.
All of these factors further increase uncertainty and undermine confidence.
Nonetheless, there are still a few positive aspects to consider, such as the constant growth of the United States economy, which drives global growth and boosts stock market prices.
Infact yield rates for developed markets are expected to be the highest recorded in the last five years.
Moreover, government debt estimates have only risen slightly so much so that the yield of developed countries' government securities should be better than in 2013.
With specific regard to Italy, experts' reports seemingly agree on the same forecast: in 2019 the Italian economy will slow down
This would hold true whether or not the GDP settles
at 0.6%, as estimated by Banca d'Italia and the International Monetary Fund, or drops to 0.2% as predicted by the European Commission.
In either case, Italy would remain way behind the other European countries.
Italy's financial stability is mostly at risk not only due to low growth, but because of its high government debt.
In 2019 Italy will have to finance its public debt by borrowing
at least 400 billion Euro from markets, a fourth of which
from foreign countries.
The ability to attract foreign capital will be closely tied to its ability to convey confidence in its policies and mitigate politicians’ unruly conducts that may drive foreign investors’ capital away and that,
under the elections might become even more frequent.
We, like all Italian entrepreneurs, can only hope that our Government will recover some sense of responsibility and once again start focusing on issues of crucial importance for economic growth and development:
Europe, Italian businesses, jobs and employment, investments.
In fact, government and private investments are critical to start growing again and close the negative growth gap with the rest of Europe.
The 2019 forecast for the Italian eyewear industry certainly has to account for all of these factors. Nonetheless, 2018 also ended with a few positive notes, such as the recovery of exports to the United States, higher employment and production, by which we can be
a little more optimistic about the future.
Regretfully, based upon the latest sell-in data available, the same cannot be said about domestic consumption.
Eyewear & Ophthalmology Equipment Show - Milan Italy (Z1204)
Once again sold-out, MIDO doubles down on its commitment to offer exhibitors and visitors more and more tools to analyze the industry, its performance and markets
|Exhibit space sold out for months, record numbers of m2 sold and participating businesses (1316), expansion of pavilion 6 and the Lab Academy – areas with an innovative business format that are making their debut at a trade show – visitor preregistrations on the rise, and a new App. These are the latest developments from the leading global eyewear
show, set to take place February 23-25 at Fiera Milano Rho. This year, the focus is on continuity, to reinforce the achievements of recent years that saw record numbers in terms of visitors and exhibitors.
In the last few editions, MIDO has proven its ability to keep the focus on business while at the same time offering opportunities to broaden insights. This year it has partnered with global trend forecaster, WGSN, for an eye-opening presentation of developments in styles and lifestyles to give eyewear insiders relevant tools to make smarter decisions. MIDO also keeps topics of industry interest, like the key issue of raising awareness around preventive eyecare, top of mind with a meeting featuring international trade professionals.
MIDO’s digital presence gets an upgrade this year with a new APP with enhanced graphics and contents. Users will be able to access their entrance pass, consult the entire catalog (where they can read exhibitor profiles), send email and visit their websites. The App also makes it possible to follow MIDO events, like the presentation ceremony of the coveted BeStore Awards. Not to mention single-tap access to one’s own social channels for quick sharing of posts and tweets. The App is available on Google Play and the Apple Store.