Annual Report 2017

In focus

GrandVision expands through Walmart in Mexico

The rapid expansion of middle classes in emerging markets is helping to drive eye care penetration. In Mexico, where many still do not have access to high quality corrective eyewear, an aging population is also contributing to a growing need for affordable, high quality eye care.

Optical stores are main distribution channel for eyewear in Mexico and people rely heavily on the expertise of eye care specialists. Optometry has been practiced there for many decades, and the country is home to the oldest and largest optometry school in Latin America.

Opticas Lux and MasVision are GrandVision’s retail banners in Mexico. The business has made education and training a differentiator in its market since 1942, and a cornerstone of its customer-centric and personalized service approach. With these two retail banners, GrandVision has become a market leader in Mexico with 622 stores at the end of 2017.

In 2016, GrandVision accelerated its expansion in Mexico by acquiring 181 optical stores within Walmart stores, through its other local banner – MasVision. In 2017, MasVision added 62 more Walmart stores to the business. The stores were rebranded as MasVision and converted according to its standardized store format. MasVision also implemented an optical training program to enhance the competencies of the former Walmart employees and help them be more successful at work.

The expansion has greatly strengthened MasVision’s penetration and brand awareness in Mexico and immediately improved sales performance in rebranded stores.

Javier Martinez Rangel, store manager at MasVision, shares:
“I worked at Walmart Optics for 5 years when MasVisión acquired the chain. The best quality of the new concept is that it empowers both staff and customers. Our staff role evolved into a customer advisor role, as now we engage more with customers to help them choose the best, most suitable product and/or treatment. That makes them feel better informed and taken care of. And ultimately – generates more sales value.”