Specsavers

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Specsavers Optical Group Ltd
Type Private
Industry Dispensing Opticians
Founded 1984
Headquarters St Andrew's, Guernsey
Key people Doug Perkins (Chairman & Joint MD)
John Perkins (Joint MD)
Dame Mary Perkins
Products Spectacles, contact lenses; hearing aids
Revenue

10% £1.7 billion (2011/12)[1]

£1.5 billion (2010/11)[2]
Owners The Perkins family
Employees over 30,000[1]
Parent Specsavers International Healthcare
Website www.specsavers.co.uk
www.specsavers.ie
www.specsavers.com.au
www.specsavers.co.nz
www.specsavers.se

Specsavers Optical Group Ltd is a global retail chain, which offers optician services, along with eyeglasses, contact lenses and hearing aids. In 2012 it had the largest single market share of the four major opticians with 42% of the UK market.[3][4] The company had a total turnover of £1.5 billion in 2010/2011[2] and £1.7 billion in 2012,[1] with 1,648 stores in the United Kingdom, Guernsey, Ireland, Norway, Sweden, Finland, Denmark, the Netherlands, Spain, Australia and New Zealand.[1]

History and market position[edit]

A branch of Specsavers in the Horsefair Centre in Wetherby, West Yorkshire.

Specsavers are a high street opticians, selling spectacles, contact lenses and hearing aids. The group was launched in 1984 by husband and wife team Doug Perkins and Mary Perkins on the island of Guernsey in the English Channel and at the end of 2007 the group had over 1,390 stores with 26,000 employees. As well as stores in the UK, they are present in the Netherlands, Scandinavia, Spain and most recently 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.[5]

Specsavers also sell designer optical collections by Jasper Conran,[6] French Connection and Red or Dead.

Specsavers' main competitors in the UK are Boots Opticians and Vision Express.

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.[7]

In 2004, Specsavers acquired Swedish Blic Optik franchise from its owner Optimum Optik AB.[8][9]

In 2007 Finance Director John Perkins became Joint Managing Director with his father Doug Perkins.[citation needed]

In The Sunday Times Rich List 2011, published in the UK 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 £1,150m with Dame Mary becoming Britain's first self-made female billionaire.[10]

Advertising campaigns[edit]

In 2005 Specsavers won the Retail Week 2005 award for Marketing Campaign of the Year.[citation needed]

In 2006 Specsavers was ranked 46 of the UK's 100 heaviest spenders on TV advertising, spending £27 million.[11] Readers Digest magazine voted Specsavers the most trusted brand of opticians for the fifth year running.[citation needed] In 2011, Specsavers was voted most trusted optician for the tenth year running by Reader's Digest.[citation needed]

Specsavers' long-running advertising campaign is based on the popular strapline "Should've gone to Specsavers".[12]

Specsavers' use of Édith Piaf in advertisements has caused some adverse comment in the press in spite of the fact that full permission had been granted by the estate of the performer.[13]

Specsavers have also made satirical ads featuring Postman Pat and the Postman Pat characters and location to advertise.

Criticism of internet retailers[edit]

In 2005 Specsavers publicly criticized Glasses Direct, a UK Internet retailer, claiming that an internet service "did not meet required standards" and "could not offer advice from dispensing opticians".[14]

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".[citation needed]

Also in 2006 Wells sought election to the General Optical Council, arguing that internet retailers and their customers needed representation. In response the Managing Director of Specsavers, Doug Perkins, wrote to Specsavers branches asking the company's opticians to rally round one of their own candidates "..candidates with the interests of hands-on, professional practitioners at heart". The General Optical Council had previously stated that it believed internet sales of glasses could pose a risk to "public safety" and its priority was maintaining high standards of eye care for the public, and not members' commercial interests. Murray Wells withdrew from the election after it became clear he would not win a ballot.[citation needed]

Structure[edit]

Specsavers operates most of their stores under a system which is called the 'Joint or Shared Venture Partnership'. This is similar to a franchise agreement between Specsavers and the franchisee; however, unlike many franchises, Specsavers stores work under the policy that 'any Specsavers customer is our customer', thereby meaning that a customer from one branch of Specsavers can expect to get equal service from another branch.[weasel words] It also differs in that Specsavers own shares in the franchisee business rather than just providing goods and services under a franchise agreement. In newer territories such as Sweden, Norway and Spain, they operate a normal franchise agreement.

Relationship with Guernsey[edit]

The headquarters are based in Guernsey, where the founding partners were resident when the company was formed.

Specsavers is the largest private employer in Guernsey, providing 500 jobs. Guernsey is a Crown Dependency and has substantially different company reporting standards to the UK, greatly reducing information available on Specsavers operations and profitability.[15]

Business strategy and future[edit]

The Perkinses have stated that they intend to maintain family control of the firm, which currently employs all three of their children in senior roles. Continued expansion into Europe is planned. It is also intended that the company will continue to supply hearing aids. The Perkinses attribute their success to their franchise model and to the de-regulation of the UK Opticians market by the Conservative Prime Minister Margaret 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.[16] 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 The Chemist and Vision Express.[15]

References[edit]

  1. ^ a b c d "Specsavers Annual Report 2012". Specsavers. 30 June 2013. Retrieved 2 September 2013. 
  2. ^ a b "Specsavers' Dame Mary Perkins". growingbusiness.co.uk. 25 May 2012. Retrieved 2 September 2013. 
  3. ^ "Real Business - Dame Mary Perkins on building a £1bn empire". realbusiness.co.uk. 2012. Retrieved 11 September 2012. 
  4. ^ "Specsavers founder sees plenty of challenges ahead". The Guardian. 27 October 2011. Retrieved 2 September 2013. 
  5. ^ "SpecSavers Annual Report 2005/06". specsavers.co.uk. [dead link]
  6. ^ "Stylish Designer Eyewear by Jasper Conran | Designer Glasses & Spectacles for Men & Women". jasperconran.com. Retrieved 28 June 2011. [dead link]
  7. ^ "Dames Commander of the Order of the British Empire". "HM The Queens [sic] 2007 birthday honours list". direct.gov.uk. 25 January 2013. p. 9. Retrieved 2 September 2013. 
  8. ^ "Optimum Optik AB completes sale of Blic Franchise AB to UK group Specsavers Optical Group Ltd.". highbeam.com. Nordic Business Report. 19 April 2004. Retrieved 2 September 2013. 
  9. ^ (Swedish)"Vår historia och mer information om vår optikkedja". specsavers.se. Retrieved 2 September 2013. 
  10. ^ Beresford, Philip (8 May 2011). "The Sunday Times Rich List 2011". The Sunday Times. 
  11. ^ Simms, Jane (9 February 2007). "Top 100 Advertisers spend less on TV". brandrepublic.com. Retrieved 2 September 2013. 
  12. ^ Hastings, Rob (9 May 2011). "Want to be a billionaire? You should have founded Specsavers". The Independent. Retrieved 2 September 2013. 
  13. ^ Moore, John (27 March 2008). "Moore confessions: Je regrette Specsavers". The Guardian. Retrieved 2 September 2013. 
  14. ^ Ryle, Sarah (27 March 2005). "The man who found specs appeal on the web". The Observer. Retrieved 2 September 2013. 
  15. ^ a b "542186.ece". The Times. (subscription required)
  16. ^ Hanson, Sarah (March 2009). "Clear vision". Director magazine. Retrieved 2 September 2013. 

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