The virtual Hong Kong Optical Fair opens today, hosted as part of the Autumn Sourcing Week organized by the Hong Kong Trade Development Council for various product categories. The ITA Agency (also known as Italian Trade Commission) organizes an Italian Pavilion every year in the Optical Fair, bringing Italian Eyewear exporters to the Asia Pacific market. Under the effect of the pandemic, the digital platform is an essential way to connect business opportunities beyond borders. This year Optical Fair has included in HKTDC’s Online Autumn Sourcing Week, ITA hosts 20 Italian companies from the Italian eyewear sector.
Italy boasts a centuries-old tradition in eyewear, both on an artisanal basis and industrial scale. Eyewear is an increasingly essential element of fashion and all the big names and luxury brands have entrusted the creation, production, and distribution of eyewear to licensees. It is essential to underline that half of the major licensed producers are located in Italy, which thus covers 50% of world license production and 25% of the world market.
Italy is one of the strongest eyewear producing country in the world, which symbolizes quality design. Italy produces 25.6% of world eyewear production in 2019 (prescription frames, sunglasses, ophthalmic lenses); 40% sunglasses, and 23% frames. In the luxury segment, the market share of Italian production has risen to 70%. The Italian eyewear market is characterized by a strong export trend, and about 90% of production is destined for foreign markets.
Hong Kong has an undisputed role as an eyewear hub, which is demonstrated in the 28th edition Optical fair, and Italy remains a faithful relationship with the Hong Kong trading market. In terms of import data, Italy is ranked the second (after China) of frames export to Hong Kong, with a market share of 9% and an export in 2019 of almost USD 79 million and for special frames (corrective, sports and sunglasses), with a market share of 36% and an export of 352 million US dollars. It is important to highlight, for the specific category of sunglasses, Italy maintains the first position, with a market share of 44% and an export value in 2019 of 350 million US dollars. Although it has shown a decreasing trend since 2019 compared to 2020, affected by the epidemic in this difficult year, throughout the years, Italian eyewear producers maintain a strong relationship with the Asia Pacific market, it is believed that positive figures will show after the epidemic is over.
The ITA at the Optical Fair 2020 gathers twenty Italian exhibitors to form an Italian Pavilion, who will exhibit their most innovative products on the event website and will be able to set an agenda of B to B meeting appointments on HKTDC’s online platform. Interested parties may search for Italian business partners through the Autumn Sourcing Week system.
Furthermore, publications articles, specifically dedicated to the participating Italian companies will be published on the online version of the V Magazine, the largest local media of optical sector. You may find more information for your potential Italian business partner through the articles.
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ITA’s support will also extend to a media campaign, aimed at increasing the visibility of the Italian companies present. A banner will therefore be active on the fair’s website, which will lead to the page of the individual companies and will remain online for 3 months, thus allowing the Italian Pavilion to maintain an open window in the Asia-Pacific optical trading market.
Visit the Italian Pavilion in optical fair via the Autumn Sourcing Week platform link below, https://asw.hktdc.com/en/fairs/optical
Should you have any questions or would like to request more details, please feel free to contact the Italian Trade Commission Hong Kong Office through [email protected] or call 2846 6500.