Case Studies - Specsavers
Guernsey based Specsavers is the UK's largest chain of opticians, with over 600 stores. Having established themselves in their home market they were looking to build on their success by looking at international opportnities
Specsavers had entered continental Europe through the organic development of a chain of opticians in the Netherlands. They could see that the chains concept translated well into European markets but that it was going to take time to develop into a business with critical mass.
The company's own internal analysis had identified further growth opportunities with Scandinavian and Nordic countries being most attractive, but they needed to evaluate the optimal growth strategy
what we did
Specsavers asked Partners In Retail to conduct a detailed review into the characteristics of these markets, to identify the key operators, evaluate their business offer and to assess their suitability for adaptation to the Specsavers model.
Partners In Retail assessed the four target countries and identified the priority order of attractiveness. We also identified the key acquisition targets in each market.
Following our recommendations, Specsavers entered each of the markets and acquired 5 of the top 6 acquisition targets identified. It now operates over 300 opticians stores across Sweden, Denmark, Norway and Finland.
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