Chapters
Annual Report 2018

Business environment

The social challenges stemming from the changes in the world around us effect the market dynamics, thus supporting the long term growth of the global eyewear market.

The global eyewear market has seen an average growth rate of nearly 4% over the past decade and is expected to continue expanding by approximately 4.6% each year over the next five years. Evolving consumer megatrends, shifting market structures, technological changes and

category growth are major drivers of this growth.

Acting on these markt trends and opportunities is decisive to GrandVision's success, therefore we have been refining our strategic priorities in line with these.

GrandVision's response to the ever evolving market trends

Favorable demographics

  • Rapidly growing and ageing population
  • Emerging middle classes

Our portfolio is positioned in some of the world’s best structural growth markets, and our growth across each category is underpinned by emerging markets.

Evolving consumer megatrends

  • Healthy lifestyle awareness
  • Fashion consciousness
  • Shopping reinvented – consumers embracing benefits of omni-channel

We are transforming customers into lifetime fans with a reshaped customer value proposition. This means updating our store experience and product and implementing a new digital and social native concept.

Evolving market structure

  • Market deregulation/consolidation
  • Growth in online eye wear market
  • Scale benefits for big players

Our focus on key central capabilities and operational excellence to drive economies of scale in areas such as category management, procurement, production, omni-channel and marketing.

Technology & category growth

  • More high-value products
  • Growing contact lens category
  • Expanding high-quality sunglass market

We are enhancing our operating model and digital capabilities to help capture a higher share of growth in the sunglass and contact lens categories.