EYEVAN, a pioneer in Japanese eyewear, capitalizes on the shift in global supply chains, leveraging Japan's reputation for reliability and technological prowess. Despite challenges posed by Japan's changing demographics, EYEVAN maintains a steadfast commitment to quality and craftsmanship, expanding its international footprint with strategic ventures like its flagship store in Los Angeles. With an eye on sustainability and personalized experiences, EYEVAN remains at the forefront of the fashion eyewear industry.
Right now is a pivotal time for Japanese makers. Policies like the US Inflation Reduction Act are forcing corporations to diversify their supply chains for reliability and to reduce country risks, with nations such as China. Japan is known for its reliability, advanced technology, and a weak JPY, so for the time being Japan has never been a more cost-effective option. This means that Japanese firms have an opportunity to expand their existing global market shares. Do you agree with this sentiment, and in your opinion, what do you believe to be the advantages of Japanese companies in this current macroeconomic environment?
Speaking of the reliability of made-in-Japan products in the eyewear sector, we understand that although brands like Dolphin JINS and Zoff are advertised as made-in-Japan Japanese brands, the products themselves are essentially made in China or South Korea. Montenegro Masunaga on the other hand was the first company to introduce this sort of eyewear as a manufacturer; offering made-in-Japan products. There are many others made in Japan that have their house eyewear brands including DITA, JACQUES MARIE MAGE and Barton Perreira, so I would say that many of the high, luxurious brands are basically made in Japan.
When we set out to create this eyewear brand, we didn't have any sort of global brand that originated from Japan. This is what we wanted to introduce, to become a global brand. By reviving launching the EYEVAN 27857285 in 2013 we have begun to move forward to the target.
One of the largest eyewear players is a brand called Luxottica, which is an Italian group. Their revenue is around JPY 2 trillion, which is about USD 13 billion. They have decided to build a factory in Japan, and they produce millions of units globally. Just to create tens of thousands of units they are creating this factory in Japan. Most of their products are made in Italy or China, but just for the sake of producing 20,000 units per month, they are building this factory in Japan.
Everyone recognizes that made-in-Japan products are the best in terms of quality and this fact has been proven globally. With this JPY depreciation, we do see an opportunity and I do think this is an advantage that we could enjoy. As for production capacity, producing eyewear takes many processes so with the supply chain disruptions during COVID things became difficult. Many firms are exiting the market thanks to these issues along with the aging of production workers. What this means is that the volume is declining every year. On the other hand, With under the JPY depreciation, we are getting massive orders from an overseas perspective since they can get products for much cheaper from an overseas perspective; this is an opportunity for us.
According to industrial reports, the global eyewear market is set to reach USD 182 billion by next year with an annual compound growth rate of 5.5%. How do you foresee the evolution of fashion eyewear over the next 12 months affecting EYEVAN?
We are focusing more on offline, real experiences, and more personalized purchases from our customers rather than an online channel. Compared to the rest of the world, I think it is characteristic of the Japanese market that customers tend to purchase over the counter or offline. Our company in particular offers high-end luxurious products that are quite expensive, so our focus is on real-life experiences at our flagship stores.
During the COVID-19 pandemic, many companies looked to e-commerce channels as a way of reaching their clients who could not physically visit stores. Now, with lockdown restrictions lifted companies are trying to bring customers back to their stores, and thus are providing unique, in-store experiences. Could you elaborate a bit more on the type of experience customers can expect when they visit your flagship store?
There are services such as eye examinations and adjustments that cannot be experienced online. Eyeglasses are perfected through an eye examination by a skilled staff member and adjustments made to suit the wearer's facial structure.
In addition, at our store, a customer can actually customize their preference in terms of color or patterns and then place that order in-store. We have all sorts of color and pattern variations to meet the needs of customers. Each component of the eyewear can be replaced with a customizable part.
Those looking for a customized product do need to make a reservation in order to come into our store, and not only will they be able to customize their own eyewear, but they will also receive guidance from our experts.
The eyewear industry is highly influenced by trends posed by influencers and social media, however, challenges persist with high costs and environmental concerns, so there is a need to swiftly adapt to evolving trends. How does EYEVAN react to the challenges posed by the fashion eyewear industry?
Speaking of sustainability, we offer consumers the opportunity to use our products for a very long time. We offer very good products that can be used for an extended amount of time, we're talking five to ten years. That's our take on sustainability. On the other hand, let's take Uniqlo as an example, people tend to purchase products every year and just replace them by throwing away the old jeans or socks, but this is not the model we are looking to replicate.
Take for instance a material we offer such as tortoiseshell, which is a real, authentic material. Watches are another example of a product that can be succeeded, with people passing vintage watches down to the next generation. This is the kind of approach we are after, and this is why we introduced our tortoiseshell series because although it can be broken we can restore it, something that plastic cannot offer.
Out of all of the various EYEVAN brands that you offer your clients, which do you believe has the most potential for future growth from a business perspective?
Eyevol is one area where we see a lot of potential because the characteristics of this brand are that the products are lightweight and have very broad applications, not only sports. We started this brand by offering sunglasses, but have since expanded the horizons of the brand by offering various series such as the kids series optical frames. We are also considering the development of the kid series.
Compared to ordinary acetate products, it uses a method called injection molding, which is inexpensive and suitable for mass production, although it does not allow for fine-tuning. Compared to ordinary acetate products we don't have a sort of plastic mold which is suitable for mass production. With this cheaper, mass production method you can't really do any fine-tuning. Due to the lightweight material and the broad applications we do see a lot of potential in the brand.
Your brand EYEVAN E-0505 offers timeless designs, as well as Japanese genuine craftsmanship and creativity. How does the titanium used in the construction of the EYEVAN E-0505 contribute to both lightweight construction and enhanced durability compared to traditional materials?
We introduced our model 7285 series brand "EYEVAN" to the Global Expo International exhibition for the very first time back in 1985, and I would say that this particular model has historical significance for us. Back then we used to use an alloy but since then we have shifted to using titanium in the frame construction. The technology has evolved in particular in the Sabae region and we've made contributions to cultivating that technology resulting in such products and brands as the EYEVAN E-0505. In 2018 we revived the EYEVAN E-0505 and a core component was the lightweight and robust characteristics of the titanium frame.
Titanium is seen very positively from a medical perspective since the metal was commonly used for medical purposes before and it doesn't cause any allergies. The Sabae region began specializing in the processing of titanium. Usually, when producing fashion eyewear there can be issues with the durability and strength of the frames, but by using titanium we can offer strength and durability alongside comfort and superior design.
Whenever people discover they have an eye problem, they usually have three options; glasses, contact lenses, or Lasik surgery. Many nowadays are looking to Lasik since it basically removes the issue right away, while others will select contact lenses because they are easier to use. Some do select glasses as they prefer the old-fashioned approach, however. What is your take on this choice and what do you believe is the correct choice for those who have developed eye conditions?
The reason we would recommend glasses is because they don't harm people's eyes. My wife is actually an eye doctor, and usually, doctors don't go through these corrective surgeries such as Lasik. The fact that doctors themselves will not go through surgery is proof enough. I would recommend a combination of eyeglasses and contact lenses.
Your EYEVAN Webb brand model has a square mixed front design with originally designed rivets. The design inspired by parts of classic cars is engraved on both the outside and inside of the frame. Can you tell us about the techniques employed in the construction of these frames and how they contribute to the durability and comfort of the user?
First and foremost, the beauty of the shapes is one of the reasons why this has become our best-selling product. We use our technology to handle the acidity of the fabric and this material gives the product a shiny touch. We spend around 100 hours going through the ten process steps to polish the surface.
Usually, we start with very rough chips before getting to a very detailed grain to give the material its shiny touch. By taking advantage of this beautiful front we can accommodate for different sizes depending on the size of your face. The nose pads can be adjusted depending on how tall your nose might be. This is all in order to make sure we have the optimal size for all the frames to fit on your face.
What is the significance of the classic car-inspired design?
There isn’t a particular significance of the classic inspired design. The point here is that it is a universal design that is everlasting.
It is meaningful that it is a universal design that can be used forever, not just referring to a specific classic car.
When talking to others in the industry we have heard of the challenges associated with Japan’s shrinking demographic. This has resulted in the made-in-Japan being placed in a threatened position since there are issues with skill inheritance while the domestic market to purchase products is increasingly shrinking. As a company that promotes made-in-Japan products, what challenges and opportunities do you see due to Japan’s changing demographic?
We do share a sense of crisis when it comes to production capacity since it's declining in suburbia. We have to commit to manufacturing downstream, and that is our main business. Speaking of factories, we want to pursue the upstream as well despite the aging population and the low birth rates, but this is really a mass market, so the market we are tackling is kind of different. The way we go about manufacturing takes a lot of manpower. As the personnel costs rise so do our base costs, which means that prices for the consumers are on the rise as well. Fortunately, there is a certain number of people who can appreciate the value added, so even if the Japanese market continues to shrink, we would not be hugely affected by that. We aren’t too concerned because there are people who can always find value in what we offer, not only in Japan but the rest of the world as well.
We share the sense of crisis that Sabae’s production capacity is declining. Although our main business is sales, we feel we need to commit to production(manufacturing). The mass market itself is shrinking due to the declining birthrate and aging population, but the market we are targeting is slightly different. Our products require a lot of labor, and as labor costs rise, so does our base cost, which means higher prices for consumers. However, fortunately there are a certain number of people who understand the added value of our products. Even if the Japanese market continues to shrink, I do not think our products will be significantly affected. I am not too worried because there are definitely people not only in Japan but around the world who will find value in what we offer.
Not only are you operating domestically, but you also have local subsidiaries in the US and Europe. Additionally, you have wholesale stores in more than 50 countries worldwide. Are you looking to further expand your international sales network, and if so, where and how?
We are using distributors and sales agents in overseas markets, depending on the country. In North America we do see more room for potential growth and the same can be said in Europe too, particularly Italy.
Last year you joined an investor in opening an EYEVAN store in Los Angeles. Can you tell us more about the reason for opening this store?
We had hoped to eventually open a flagship store in Los Angeles, so as a start towards that we worked with a partner, basically running this joint venture in the form of a shop inside of a shop. It is a good start because we will be able to rely on our partner for the actual operation and management of the store.
There are different requirements depending on the country you are operating in. A location may require an optometrist or eye doctor. There are restrictions or limitations in place in every country, however, they are all different from location to location. If any similar opportunities are presented, we would like a presence in other major cities across the US.
Can you define your company in one sentence for us?
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EYEVAN is defining and communicating Japanese culture through the medium of eyewear to the rest of the world, demonstrating the highest quality made-in-Japan products that anyone would be proud of.
For more details, see: https://eyevan.com/en/
To read more about EYEVAN, check out this article about them
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