Specsavers Optical Group Limited[1] is a British multinational optical retail chain, which operates mainly in the UK, Ireland, Australia, New Zealand, Canada, and the Nordic countries. The chain offers optometry and optician services for eyesight testing and sells glasses, sunglasses, and contact lenses. It also sells hearing aids. In the United Kingdom in 2012, it had the largest single market share of the four major opticians, with 42% of the market.[3][4]
As well as stores in the United Kingdom, Specsavers are present in Ireland, the Netherlands, the Nordic countries, Spain, Australia and New Zealand. The company ventured into hearing services in 2002. Their Hearing Centres division provides hearing tests and hearing aids within the Specsavers optical stores, providing services from more than 400 locations.[8]
The co-founder of Specsavers, Mary Perkins, was appointed a Dame Commander of the Order of the British Empire in the Queen's Birthday Honours List in 2007, in recognition of her services to business and the community in Guernsey.[9]
In April 2004, Specsavers acquired the Blic Optik franchise from its Swedish owner Optimum Optik AB.[10][11] In 2007, finance director John Perkins became joint managing director, with his father Doug Perkins.[citation needed][12]
In The Sunday Times Rich List 2011, published in the United Kingdom on 8 May 2011, Douglas and Dame Mary Perkins and family were ranked 56th in the list of Britain's Wealthiest People. Their personal worth was estimated at £1.150 billion, with Dame Mary becoming Britain's first self-made female billionaire.[13][14]
In May 2021, it was announced that in March 2021 Specsavers had entered the North American market with its purchase of 18 practices from Canada-based Image Optometry.[15][14]
Advertising campaigns
In February 2007, Specsavers was ranked No. 46 of the United Kingdom's 100 Heaviest Spenders on TV Advertising, spending £27 million.[16] Specsavers' long running advertising campaign is based on the popular strapline "Should've gone to Specsavers".[17] A common theme of these adverts is a character making a mistake because of poor eyesight. These include a sheep farmer who shears his sheepdog, and an elderly couple who ride the Infusion rollercoaster after mistaking the seats of the ride for a bench.
In 2017, Specsavers officially launched a range of eyewear designed by the popstar, singer and actress Kylie Minogue.[23]
Criticism of internet retailers
In March 2005, Specsavers publicly criticised Glasses Direct, an internet retailer, claiming that an internet service "did not meet required standards" and "could not offer advice from dispensing opticians".[24] In 2006, James Murray Wells, the managing director of Glasses Direct, claimed that four major high street retailers including Specsavers were "leading a campaign to stop prescription glasses being sold over the internet".[25]
Structure
Specsavers store along the Kauppurienkatu street in Oulu, Finland
The firm operates most of their stores under a 'Joint or Shared Venture Partnership', consisting of a partnership between an Optometry Director and a Retail Director.[26]
This is similar to a franchise agreement; however, unlike many franchises, a customer from one branch of the company should expect to get equal service from another branch. It also differs in that Specsavers own shares in the franchisee business rather than just providing goods and services under a franchise agreement. In other territories such as Sweden, Norway and Spain, they operate a normal franchise agreement.
In May 2020, Specsavers set up a video consultation service for the first time, to check people's eyes and hearing aids during the COVID-19 pandemic.[29]
JobKeeper controversies
On 15 September 2021, it was revealed in a 7.30 exposé that Specsavers had taken advantage of the Australian government's JobKeeper scheme.[30] JobKeeper was designed to subsidise wages for Australian workers during the COVID-19 emergency from April 2020 to March 2021.[31] The intended recipients of JobKeeper were companies struggling financially throughout the pandemic. Specsavers applied for the subsidy, receiving over A$90 million during these six months. Despite having a strong year across the optometry vertical, including reported profits for Specsavers, this subsidy resulted in an increase of revenue by more than 100% year on year.[32]
Outcry resulted from this report due not only to Specsavers not requiring the full subsidy, but also that the profits which were sourced from tax contributions in Australia were immediately directed offshore to Specsavers headquarters in the known tax haven of Guernsey.[32]
Specsavers received additional criticism for repaying only A$4 million in JobKeeper payments,[32] when other companies like Cochlear, CIMIC and Mirvac had already repaid larger amounts.[33]
Business strategy and future
The Perkins have stated that they intend to maintain family control of the firm, which currently employs two of their three children in senior roles. Continued expansion into Europe is planned. It is also intended that the company will continue to supply hearing aids.
The Perkins attribute their success to their franchise model, and to the deregulation of the UK Opticians market by the ConservativePrime MinisterMargaret Thatcher in the 1980s, allowing opticians to use previously forbidden advertising and marketing techniques to rapidly take over a market that had belonged to independent local opticians.[34]
The Perkins have said of the remaining local opticians that "their days are numbered", and in fact their major competition now comes from large chains such as Boots Opticians and Vision Express.[35]
In February 2016, it was announced that Specsavers would be the sponsors of the County Championship cricket competition in England and Wales, for the next four years;[36] a deal which was extended in 2018 to include Test series held in England including the 2019 Ashes series. In January 2017, Specsavers were in negotiation to have shops undertake certain front line medical care linked to sight and hearing, in both the United Kingdom and the Netherlands.[37]
In May 2020, Specsavers announced a plan to cut 450 jobs amid a "dramatic downturn" caused by the COVID-19 pandemic. The company had previously tried to avoid making redundancies by implementing pay cuts and reducing working hours.[38]
Optometry is a specialized health care profession that involves examining the eyes and related structures for defects or abnormalities. Optometrists are health care professionals who typically provide comprehensive eye care.
The British Optical Association (BOA) was founded in February 1895 as the first professional body for ophthalmic opticians (optometrists) in the world. The British Optical Association Museum and Library was founded in 1901; it retains the BOA name but is now part of the College of Optometrists, located in Craven Street, Charing Cross, central London.
An optician is an individual who fits eyeglasses or contact lenses by filling a refractive prescription from an optometrist or ophthalmologist. They are able to translate and adapt ophthalmic prescriptions, dispense products, and work with accessories. There are several specialties within the field.
Vision Express is a British eyewear company established in 1988, now owned by EssilorLuxottica. It sells spectacles, sunglasses and contact lenses.
Pearle Vision is an American chain of eye care stores. It is one of the largest franchised optical retailers in North America. The company was acquired by Luxottica, an Italian eyewear company, in 2004. As of December 31, 2018, Pearle Vision operated 110 corporate stores and had 419 franchises throughout North America.
The General Optical Council (GOC) is an organisation in the United Kingdom which maintains a register of opticians and regulates the services provided by dispensing opticians and optometrists. The stated function of the GOC is "to protect the public and promote high standards of professional conduct and education amongst opticians".
The College of Optometrists is the professional, scientific and examining body for optometry in the United Kingdom, working for the public benefit. Their headquarters is at 41-42 Craven Street, London WC2, of which no 41 is a Grade II listed building.
Essilor International is a French multinational corporation specialized in the design, manufacture and sale of ophthalmic lenses, optical equipment and instruments. It is the world's largest manufacturer of ophthalmic lenses. Founded in 1972 out of the merger of two French companies operating in the sector, Essel and Silor, it is headquartered in Charenton-le-Pont, near Paris. It is, since October 2018, a subsidiary of EssilorLuxottica which arose out of a merger between Essilor and the Italian eyewear corporation Luxottica.
An eye care professional is an individual who provides a service related to the eyes or vision. It is any healthcare worker involved in eye care, from one with a small amount of post-secondary training to practitioners with a doctoral level of education.
Dollond & Aitchison was one of the oldest chains of retail opticians in the United Kingdom, having been established in 1750. The business was absorbed into Boots Opticians in 2009 and stores were rebranded under the Boots Opticians name, completed in 2015.
Boots Opticians Limited operates a chain of ophthalmic and dispensing optician stores in the United Kingdom. The company is a subsidiary of Walgreens Boots Alliance (58%) and De Rigo (42%).
Optometry is a health care profession that provides comprehensive eye and vision care, which includes the diagnosis and management of eye diseases.
Dame Mary Lesley Perkins, is an English billionaire who is the co-founder of Specsavers, the British retail optometry chain.
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Vision Action is a registered charity in the United Kingdom, which provides optical aid and services to developing countries in Africa.
Carl Wilhelm Laubman was an Australian optician, inventor, and co-founder of Laubman & Pank.
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Douglas John David Perkins is a Welsh billionaire businessman. He is the co-founder of Specsavers, an international optical retail chain.
Zenni Optical is an American online retailer of prescription glasses and sunglasses. Founded in 2003 by Tibor Laczay and Julia Zhen, it is based in Novato, California.
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