One European company owns Ray-Ban, Oakley, the shops that sell them and the insurer that pays for them, and the reason glasses are so expensive is not the secret 80 percent monopoly of internet legend but something quieter and much harder to break

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Walk into a Sunglass Hut, try on a pair of Ray-Bans, consider the Oakleys next to them, glance at a Prada frame, and pay using your EyeMed vision insurance. That feels like four separate choices. It is closer to one. The frames, the brands, the shop and the insurer all belong to a single company, ... Read more