Envisioning a New Growth Path in Vision Care

A world leader in vision care had considerable success with acquisitions, but after many years of beating industry growth averages, its organic growth rates had slowed. Moreover, despite its sizable global market share, the company was struggling in emerging markets and faced disruption from new channels, competitors, and technologies.

BCG helped the company develop a new five-year growth strategy. In addition, BCG helped expand growth-related capabilities and reignite a growth culture within the organization. The collaboration focused in four areas:

• Generating new ideas to broaden opportunities
• Exploring and prioritizing options
• Focusing investments on 11 critical growth engines
• Helping test, learn, and scale new ideas
• Coordinating the growth program, engaging several hundred senior management team members, and institutionalizing success metrics

The collaboration with BCG is paying off. The company substantially improved the fundamentals of its core business, deployed new marketing approaches, increased its agility, and successfully entered new, fast-growing markets.

In the four years since the strategy was developed, revenues have grown at a 17% compound annual growth rate. In addition, market capitalization has nearly doubled.