Modo Eyewear, a prominent player in the glasses frame industry since 1990, is rapidly increasing its global presence with its two renowned brands, Modo and Eco. Headquartered in New York, the company operates its international business from Milan under the leadership of CEO Giovanni Lo Faro. Modo Eyewear sets itself apart by offering distinctive products while also championing charity and sustainability initiatives.

The Modo brand caters to a sophisticated clientele, focusing on innovative designs and falls within the mid-to-high-end price range. On the other hand, Eco positions itself in the medium-low bracket and has gained recognition for its notable sustainability efforts. Lo Faro aims to make Eco distinct from Modo, providing an environmentally-friendly alternative with its own unique style and design characteristics. However, over time, the two brands have influenced and reinforced each other’s success.

Sustainability lies at the core of Eco Eyewear’s offerings. The brand prioritizes eco-sustainable materials and implements efficient logistics to reduce waste. Furthermore, Eco has made significant contributions through the “One Frame, One Tree” initiative, planting a tree for every pair of glasses sold. In just 13 years since its launch, this initiative has resulted in the planting of an astonishing 3.3 million trees in Africa.

Modo Eyewear’s commitment to philanthropy extends beyond its efforts with Eco. The company has taken steps to provide glasses to underprivileged schoolchildren in India, ensuring they have access to proper eyewear. With a widespread presence encompassing 20,000 retail locations across over 80 countries, Modo Eyewear remains steadfast in its social mission. In fact, the company has even developed a comprehensive Sustainability Report to further emphasize its dedication.

While the United States serves as Modo Eyewear’s primary market, contributing to 50% of its revenue, the company also boasts a strong presence in Europe. It has achieved remarkable sales in Italy, Western Europe, and the UK. To cater to customers worldwide, Modo Eyewear collaborates with international distributors, enabling convenient access to its products.

While prescription glasses contribute significantly to Modo Eyewear’s revenue, the company has also made substantial strides in the sunglasses segment. CEO Lo Faro highlights that sunglasses are often individual choices made by consumers, while prescription eyewear necessitates a relationship with an optician. Nonetheless, Modo Eyewear has observed growth in both segments, showcasing its versatility and adaptability.

Modo Eyewear enjoyed impressive double-digit revenue growth until 2021, with an average annual growth rate of 30%. However, the challenges presented by war and inflation in 2022 led to single-digit revenue growth. Despite these obstacles, the company remains unwavering in its commitment to innovation and delivering functional value to opticians.

Looking ahead, Modo Eyewear has plans to introduce a new product in a relatively unexplored category within the glasses segment. The company continues to prioritize its philosophy of innovation, value, and social purpose. With its expanding global footprint and unwavering dedication to sustainability, Modo Eyewear is poised for further success in the industry.

Useful links:
1. Modo Eyewear Official Website
2. Eco Eyewear Official Website