In two short years Privé Revaux, has disrupted the eyewear industry with their high-quality, affordable frames. Founder David Schottenstein has a true “David vs. Goliath” story, if you will – Privé Revaux launched with an elite team of celebrity partners that include superstars Jamie Foxx, Hailee Steinfeld, and Ashley Benson with a vision to take on eyewear juggernauts like Luxottica. With a background of extensive retail expertise, David saw an opportunity within an extremely overpriced and saturated market to bring unprecedented value to customers, especially for an accessory that is so commonly misplaced/broken. Schottenstein has what he describes “the worst margins in the industry,” but his vision wasn’t to make a lot of money per sunglass sold from mark-ups, rather achieve sales volume that ultimately supports quality materials, innovation and high-end design. It is with this customer-appreciating business model that has catapulted the young brand to hit over $20 million in revenue, millions of glasses sold and is on track to triple that in 2020.
With celebrity at the core of their business, Privé Revaux has launched three extremely successful capsule collections. The first with Rivedale star Madelaine Petsch in April 2018. The Privé Revaux x Madelaine sold out within 24 hours and the brand followed up a year later with the Madelaine Petsch M3 collection which was equally as successful.
This summer, the brand launched the Benzo collection with brand partner Ashley Benson – a campaign that went viral and also featured upgraded materials (over $100 worth of extra features) that retailed for only $39.95 per pair. This coupled with powerful celebrity partners, and impressively over 100 A-list celebrities seen out and about wearing the $30 glasses with their couture including Jennifer Lopez, Katie Holmes, Cara Delevingne, Blake Lively, Rita Ora, Mila Kunis, Jessica Biel, Chrissy Teigen, Hailey Baldwin, Camila Mendes, Julianne Hough, Nick and Joe Jonas, Snoop Dogg, Odell Beckham Jr., Steph Curry, George Clooney, Matthew McConaughey and many, many more, has created an unstoppable buzz and immediate consumer interest.
The celebrity factor has helped to build a brand that fashionable consumers are proud to wear, even without a traditional “designer label” attached. The brand’s celebrity-coveted image and low price has led to a powerful market size in the United States, which alone could project Privé Revaux to become a $1 billion company. With this escalating success, the two year old company has been able to expand from their initial focus on sunglasses into affordable, yet quality and stylish anti-blue light glasses, reading glasses and more innovations to come in 2019. Each new addition represents a significant market size with a massive opportunity for future growth.