Business environment

The global eyewear market is expected to grow by 5% p.a. in the next five years. This growth will be driven primarily by global socio-economic trends, product innovations and trends in the overall industry.

The optical retail sector is relatively stable and characterized by steady repurchase cycles over the span of a year due to the fundamental importance of eye care to millions of people around the world.

At a national level, retail competition is generally characterized by local competitors and banners that are easily identifiable for consumers in those markets. The optical retail market is also still highly fragmented with a large portion of market share in the hands of independent retailers. This is often due to the history or still prevailing local eyewear market regulations and subsidies that tend to protect smaller but less efficient players. While market share held by independents differs by country, it generally remains above 50% in most of GrandVision’s markets although it is slowly but steadily decreasing over time.

There are many regional and national optical retail chains, but only a few multi-country chains and even fewer that are truly international. With our leading market position, size, global presence, and advanced capabilities, GrandVision is well positioned to continue to tap the growth potential of its markets by responding to favorable long-term trends that are driving demand.