Chapters
Annual Report 2020

Stakeholder dialog

GrandVision has a diverse set of stakeholders with specific interests and motivations whose input is key to determining the focus and attention of our organization’s efforts. We strive to stay in continuous dialog with them. These dialogs take place on different levels within our organization and are often a part of our daily business. Our Management and Supervisory Board members attend the most important stakeholder dialogs, in which a variety of stakeholders are present. This approach enables us to effectively identify and address their interests and concerns, and to develop and maintain a holistic approach towards our CSR strategy.

To increase visibility and transparency around these interactions, we introduced the table below to provide insight into our stakeholder groups and how we interacted with them in 2020.

Stakeholder group

What they expect

How we engage (incl. frequency)

Main topics in 2020

Our response

Employees

Safe and respectful work environment, equal development and growth opportunities, fair compensation

Established culture of regular dialog through our biannual appraisal process, as well regular employee satisfaction surveys throughout the whole organization

Attracting, developing and nurturing talent in eyecare and customer service; Developing high-quality, permanent and fairly-paid employment opportunities; Strengthening talent management; Ensuring employee safety via new ways of working and procurement of PPE during COVID-19 pandemic

We focused on strengthening succession planning, internal recruitment, developing desired leadership culture, increasing continuous performance feedback and more talent development opportunities (training).

Customers

In 2020, we identified the following consumer megatrends:

  1. 'Save Time': Seeking convenience
  2. 'Save Money': Smart customer behavior is on the rise; Save where you can and spend a more generous budget where you prioritize it
  3. 'Save Me': Customers are increasingly health aware
  4. 'Save the World': Sustainability is a key topic and will impact future consumer behavior even more
  5. 'Let me be me': Individualization is on the rise

We connect regularly with our customers in-person throughout our store network, and instore communications, as well as through our highly personalized digital CRM approach, and last but not least through our regular communications via our digital platforms (websites, social media, others). Please read more on this in our dedicated case studies and chapters:

Optimized omnichannel customer journey; High-quality affordable product assortment - global catalog; Eyecare blogs/info; Ensuring customer safety via new ways of working and procurement of PPE during COVID-19 pandemic; Sustainable products and business practices

We were flexible to adopt new channels to offer access to eyecare/eye health advice and products, as well as to adjust our global product offering, including more sustainable products and recycling opportunities. We further strengthened the work and outreach of our Eye Care Council as a source of expertise for the entire GrandVision retail network and to ensure we deliver a high-level retail experience, including the latest eyecare developments, and expert advices across multiple channels. At the same time, we created a COVID-19 Task Force to ensure our stores across the world had access to PPE and outfitted stores consistently for the most customer safety possible.

Suppliers

Longterm commitment and cooperation, fair and clear contractual agreement, acceptable payment terms, compliance with laws of data protection

Our Strategic Sourcing and Procurement team is responsible of establishing and maintaining a fair, transparent and efficient relationships with our suppliers. They make sure that we work with suppliers that align with our Supplier Code of Conduct and international standards, including the Universal Declaration of Human Rights, and the International Labor Organization’s Declaration on the Fundamental Principles and Rights at Work. All suppliers receive and acknowledge a copy of our policy, and we verify their alignment through regular third-party audits. Our employees engaged in procurement take responsibility and accountability for policy compliance.

Human Rights protection in our supply chain

In 2020, we conducted a human rights due diligence exercise to identify and reassess salient human rights issues in our supply chain, particularly among our strategic suppliers. We analyzed our current policies, and based on the outcome, we planned further steps and actions to tackle uncovered human rights risks and opportunities. Read more about this in Section 2.2 'Strategic sourcing and product procurement.'

Investors/Shareholders

Transparency, profitability, corporate governance, broader value creation

GrandVision communicates with financial markets directly on a regular basis. These exchanges with shareholders, analysts and potential investors are based on publicly available presentations and discuss price sensitive information that is also publicly available. GrandVision organizes conference calls for analysts and investors on a constant basis during the year. Next to that GrandVision holds General Meetings at least once every year.

EssilorLuxottica transaction; Share price; Dividends; Active communication with shareholders related to COVID-19 pandemic measures. Litigation and arbitration processes

We are committed to maintaining regular, transparent communication with our shareholders. We do this through presentations, conference calls, General Meetings and other proactive communications as needed, for example, broad communication updates on the effects of the COVID-19 pandemic on our business, and the we measures took. Also, we share recurrent updates as needed related to the key events EssilorLuxottica transaction process. In 2020, we held a virtual AGM due to the pandemic restrictions.

Public sector/Regulatory authorities

Compliance with laws and regulations e.g. Dutch Corporate Governance Code, EU Directives; Transparency in reporting and communications; Responsible tax policies and practices

We engage with regulatory authorities in a variety of ways, e.g. by publishing annual reports, quarterly updates, participated in (ESG) benchmarks, and (depending on circumstances) we work with local governments and authorities. Learn more about this in Section 3.4 'We are a responsible corporate citizen.'

Education of employees and suppliers on GV codes of conduct; information/data privacy and security regulations, MDR compliance

Intensified our Code of Conduct trainings via e-Learn; Achieved GDPR implementation; established Quality Management Systems in line with ISO13485 in order to ensure compliance with EU MDR

Broader society/Community

Access to affordable high-quality eyecare and eyewear; Cleaner, greener and more transparent ways of doing business; contribution to local communities

We established a yearly plan of actions and communications to raise awareness of the importance of eyecare and eye health, and contribute to local communities via charitable initiatives. Learn more about these in Section 3.3 'Giving back to our communities and reducing environmental impact.' We also strive to improve the environmental performance in our stores, offices and manufacturing sites. We communicate regularly on this via our social media channels, websites, as well as annual reporting.

COVID-19: Keeping our customers and employees safe; supporting communities in need; environmental performance of stores, offices and manufacturing sites; sustainable products and recycling practices

Held charitable mission trips in own countries instead of going abroad; COVID-19 Task Force and updated store and office safety procedures; Made efforts to continue improvement of environmental performance of stores, offices and manufacturing sites; introduced more sustainable products and recycling programs in the markets.