Annual Report 2019

Our core activities

We optimize our highly adaptive business model to meet different regulatory environments and market structures. At the same time, we manage our stores and services to address the specific needs of each market we operate in, and closely regulate our supply chain.

We pride ourselves on bringing high-quality and affordable spectacles, sunglasses and contact lenses from the design and manufacturing stages to our retail brand stores around the world. Our core activities include the production of our Exclusive Brand eyewear, the selection of third-party branded products, running a retail omnichannel network across 40+ countries, and providing award-winning eye care services for customers.

Our Product Value Chain

We collaborate with strategic suppliers to select on-trend frames and sunglasses, as well as contact lenses and eyewear products for our stores around the world. Our teams closely oversee their production and manufacturing processes to ensure safety and quality. To complete the journey from our manufacturing facilities to stores, we ensure prompt product transportation and delivery. Customers can then browse our selection in stores and online.

In 2019, our Exclusive Brand frames made up 66% of our total optical sales, while sunglasses accounted for 40% of our total sunglasses sales.

We also have our own sun business unit, Solaris, which operates through a four-channel strategy:

  1. Solaris corners in optical stores
  2. Dedicated stand-alone Solaris stores
  3. Department store displays
  4. Pop-up shop concepts

Solaris offers a variety of fashionable third-party products, as well as a line sold under its own name. In 2019, we increased our Solaris footprint by 7%, reaching more than 4,500 points of sale compared to the previous year.

The strength of our retail omnichannel network

GrandVision operates more than 30 major optical retail brands across 40+ countries that mainly target mid-to-low market segments. In Belgium, France, The Netherlands, Mexico, Spain and Switzerland, we operate a second brand that serves the mid-to-high market segment.

In 2019, we grew our store network to 7,406 stores, an increase of 4.4% compared to the previous year. While our global digital efforts accelerated our global omnichannel, and our e-commerce sales grew by 66% year-on-year. We also achieved a significant increase in digitally influenced store sales driven by omnichannel tools such as online appointment booking, mobile-first websites, store locators and advanced CRM.

Our brands' success and strong performances contribute to their reputations. In 2019, we were honored in the following ways:

We work hard to make our customers happy

Our customers are our priority, and our goal is to deliver top-notch service in our stores. Our simple, safe and honest customer journey includes eye screenings, contact lens fittings, eyewear style advice, as well as after-care services.

Thanks to our hard work and ongoing customer service and experience improvement, we are able to report high levels of customer satisfaction. We measure this through our NPS score, an index on a scale from 1 to 100 showing the willingness of our customers to recommend our products or services to others.

In 2019, we have increased our NPS score from 62 in 2018 to 65 in 2019, which puts us in the 'Excellent' range.