Fedao: loss for more than 400 million Euros due to counterfeit sunglasses

According to the Spanish Federation of Optics Industry Associations (Fedao), opticians and manufacturers lose over 400 million euros a year due to 'blanket-top' sales of sunglasses.

Each year some 27.5 million glasses are sold in Spain, of which eight and a half million, 31% of the total, are sold by blanket-top salesmen, according to the latest available figures. But various other distribution channels exist that are totally uncontrolled: bazaars and shops sell 2.6 million pairs and another 2.4 million are distributed through promotions. This means that some 14 million pairs are sold outside the legal channels. Fedao estimates that the Spanish industry loses 415 million euros, a figure calculated by establishing the average price of a pair of glasses at 29.63 euros.

Opticians and authorized sellers earn 148 million euros a year by marketing sunglasses. This amount accounts for 11% of their annual turnover. Without the street market in sunglasses, the optics industry would quadruple its turnover.