“Should’ve gone to Specsavers”. Millions of Australians have. Last week they were voted Australian Retailer of the Year and Retail Employer of the Year. A remarkable success story for a company which has grown to nearly 300 stores in just five years since coming to Australia.
I visited their Asia Pacific HQ in Melbourne to learn more about how they did it. Specsavers, founded by Doug and Mary Perkins, have found a winning formula, which has taken them to a 50% market share in the UK and already 30% in Australia. Each of their stores is owned by local partners – an optometrist and an optical retailer – with a shared stake in the business. Specsavers bring to the party research-led high volume manufacturing, clever marketing (including sponsorship of referees’ kit) and lots of technical help.
At their large plant in Melbourne I watched high tech machines precision grinding lenses to fit over 1,000 different potential frames. The factory is expected to produce over 4 million pairs of glasses this year. Specsaver have created around 3,000 jobs in Australia, and have helped to establish a new Optometry degree programme at Deakin University, to expand the supply of optometrists here.
Napoleon described Britain as a “nation of shopkeepers”. Certainly British retailers have been remarkably successful around the world. In the last couple of years we have seen High Street icons like Top Shop, Paul Smith and TM Lewin opening here. They bring an innovative approach that Australian consumers seem to appreciate.