Annual Report 2017

Our Value Creation Model

We operate in a world driven by constantly changing trends, and so we therefore continuously innovate and adapt our business model and develop products and services that meet the needs of our customers for eye care, visual correction, protection and prevention. We do that by maintaining a dialogue with all of our stakeholders and we take our social and environmental impact into consideration.

Our Value Creation Model reflects the insights gained from our assessment. It also shows how we use the resources and expertise at our disposal to create value for our stakeholders. We start by taking a good look at the environment we operate in and then we define the type of “input” – or different type of capital, we need to invest in order to generate value. Our business model transforms this capital – such as the skills and knowledge of our people, our physical store network, our Exclusive Brand products, our strong retail brands and GrandVision brand identity, and others – in order to make a positive contribution not only to the development of the business in general, but also to improve the lives of our customers and employees, and manage better the impact of our operation along our supply chain. The outcome of our activities also contributes to the United Nations Sustainable Development Goals (SDGs). These 17 goals were adopted by the 193 countries of the UN General Assembly and include 169 targets, covering a broad range of sustainable development issues. These include ending poverty and hunger, improving health and education, making cities more sustainable, combating climate change, and protecting oceans and forests.

CONTRIBUTING TO THE SDGS

After comparing our outcomes against the SDGs, we have identified contributions to the following three goals:

  • Goal 3: Good health and well-being – We contribute to better quality and safety of life by increasing the awareness of eye health and improving the accessibility to high quality and affordable eye care. In this way, we support the socio-economic inclusion of people who suffer from undiagnosed eyesight problems.
  • Goal 8: Decent work and economic growth – We contribute to alleviation of poverty and personal and professional development by creating high-quality employment opportunities, providing access to professional training and fair pay of employees and taxes. Also, by providing high quality and affordable eye care globally to more and more people we contribute to the development of literacy and the educational standards required for economic development.
  • Goal 12: Responsible consumption and production – By reducing our environmental footprint, we contribute to sustaining the environment for future generations.

We intend to align our targets with the SDGs to further operationalize our objectives in the coming years. We have also developed non-financial KPIs to help us measure our progress against the SDGs, for example we track our CO2 production and transportation emissions (for our Exclusive Brand products) and we are refitting our stores with LED lighting. These will be presented more extensively in our upcoming 2017 CSR Report.