Specsavers
| Company type | Private |
|---|---|
| Industry | Optometry, retail |
| Founded | 1984 |
| Founder | Doug Perkins, Mary Perkins |
| Headquarters | Guernsey , Guernsey |
Area served | United Kingdom, Ireland, Australia, New Zealand, Canada, Nordic region, Netherlands, Spain |
Key people | Doug Perkins (Co-founder), Mary Perkins (Co-founder), John Perkins (Joint Managing Director as of 2007) |
| Products | Eye examinations, spectacles, sunglasses, contact lenses, hearing devices |
Number of employees | Not specified |
| Parent | None |
Specsavers Optical Group Limited is a multinational optical retail enterprise headquartered in Guernsey, with primary operations spanning the UK, Ireland, Australia, New Zealand, Canada, and the Nordic region. The company specializes in optometry and dispensing optician services, offering eye examinations alongside the retail of spectacles, sunglasses, contact lenses, and hearing devices. In 2012, Specsavers commanded a 42% share of the UK market, positioning it as the largest among the four principal optical retailers in the country.
During the 2018/2019 fiscal year, Specsavers reported revenues amounting to £2.78 billion. The group operated 2,111 outlets across various locations including the UK, Guernsey, Jersey, Ireland, Norway, Sweden, Finland, Denmark (where it trades under the Louis Nielsen brand), the Netherlands, Spain, Australia, New Zealand, and Canada.
History and market position
Established in 1984 by Doug and Mary Perkins on Guernsey, Specsavers has broadened its reach beyond the UK to encompass Ireland, the Netherlands, Nordic countries, Spain, Australia, New Zealand, and Canada. The company expanded its service portfolio in 2002 by introducing hearing care services through more than 400 Hearing Centres integrated within its optical stores.
The retailer features exclusive branded eyewear collections such as Jeff Banks, Timberland, Hackett London, and Quiksilver for men; Converse and Tommy Hilfiger for both men and women; as well as Roxy, Cath Kidston, Karen Millen, and Kylie Minogue targeting female customers.
Mary Perkins, co-founder of Specsavers, was honored with a Dame Commander of the Order of the British Empire in 2007 in recognition of her business achievements. In 2004, Specsavers acquired Blic Optik in Sweden. By 2007, John Perkins had joined Doug Perkins as joint managing director while serving as finance director.
The Perkins family was placed 56th on The Sunday Times Rich List in 2011 with an estimated net worth of £1.15 billion; Mary Perkins notably became the first self-made female billionaire in Britain. In March 2021, Specsavers expanded into North America by purchasing 18 practices from Canadian firm Image Optometry.
Advertising campaigns
In February 2007, Specsavers was ranked 46th among the UK's 100 Largest TV Advertising Spenders, allocating £27 million to television promotions. The brand’s enduring marketing effort revolves around the slogan "Should've gone to Specsavers," commonly depicting individuals making errors linked to impaired vision, such as a sheep farmer mistakenly shearing his sheepdog or an elderly pair confusing rollercoaster seats for a bench.
At times, Specsavers' advertisements have generated debate, including those featuring Édith Piaf’s music, which was used with permission from her estate. Other marketing initiatives have incorporated iconic characters and celebrities like Thunderbirds, Postman Pat, Mr. Men, and John Cleese portraying Basil Fawlty.
In 2017, Specsavers broadened its product lineup by introducing an eyewear collection designed by pop icon Kylie Minogue, thereby strengthening its position in the celebrity-endorsed fashion market.
Criticism of internet retailers
In March 2005, Specsavers publicly challenged Glasses Direct, an online eyewear retailer, asserting that its service "failed to meet necessary standards" and lacked professional guidance from dispensing optometrists. The following year, James Murray Wells, Glasses Direct’s managing director, accused four major high street chains—including Specsavers—of orchestrating efforts to prevent prescription glasses from being sold online.
Structure
Specsavers predominantly runs its outlets through a 'Joint or Shared Venture Partnership' model involving an Optometry Director and a Retail Director. While similar to franchising, this arrangement differs as Specsavers holds equity stakes in each partnership rather than solely providing products and services. In countries such as Sweden, Norway, and Spain, the company employs a conventional franchise system.
The business ventured into the hearing aid sector by capitalizing on the Any Qualified Provider framework within the English National Health Service beginning in 2009.
In response to the COVID-19 pandemic, Specsavers introduced a video consultation platform in May 2020 to facilitate eye and hearing aid assessments remotely.
JobKeeper controversies
On 15 September 2021, a report by 7.30 exposed that Specsavers had received over A$90 million through Australia’s JobKeeper wage subsidy program between April 2020 and March 2021. Despite reporting robust profits in its optometry division and experiencing revenue growth exceeding 100% year-over-year during this period, the company still accessed these government funds.
The issue arose because Specsavers did not require the full subsidy amount while continuing to generate profits—subsidized by Australian taxpayers—that were subsequently transferred offshore to its headquarters located in the tax haven of Guernsey. Furthermore, Specsavers faced scrutiny for repaying only A$4 million of the JobKeeper funds, whereas other corporations such as Cochlear, CIMIC, and Mirvac returned substantially larger sums.
Business strategy and future
The Perkins family aims to retain family ownership, with two of their three children occupying senior leadership positions. Strategic focus remains on expanding further across Europe and maintaining growth in hearing aid offerings.
They attribute their achievements to adopting the franchise approach combined with deregulation of the UK Opticians sector during Margaret Thatcher’s Conservative government in the 1980s. This deregulation enabled opticians to engage in advertising and marketing tactics that propelled growth beyond that of independent practitioners.
The Perkins family has observed that competition today primarily stems from large chains such as Boots Opticians and Vision Express, rather than smaller local independents.
In February 2016, Specsavers secured sponsorship of the County Championship cricket competition across England and Wales for four years; this agreement was extended in 2018 to cover Test series hosted in England, including the notable 2019 Ashes series. By January 2017, Specsavers had begun exploring opportunities to expand into frontline medical services related to vision and hearing care within the UK and the Netherlands.
In May 2020, due to a "dramatic downturn" caused by the COVID-19 pandemic, Specsavers announced plans to reduce its workforce by 450 positions after initially avoiding layoffs through measures such as pay reductions and shorter working hours.