4. Expand in current markets, also through bolt-on acquisitions

The national optical retail markets are still highly fragmented, with a significant proportion of independent retailers operating either relatively small chains or single stores. This provides the opportunity to expand through bolt-on acquisitions of such businesses in existing markets, and to then integrate these into the existing GrandVision network.

GrandVision continuously reviews potential acquisition opportunities both in mature and emerging markets, and pursues these once a sound business case has been established. It also considers pure-play online propositions, such as the 2014 acquisition of Lenstore.co.uk in the United Kingdom, if and when there is added value to offer its customers, synergies with the existing business, and service and quality levels are not compromised.