Finland’s optical sector enjoyed 5.2% growth in 2010

Small companies still have almost a quarter of the market share and 36% of the total number of optical stores.

The strong growth of the optical retail sector in Finland continued in 2010 with turnover increasing by 5.2%, reaching a new record total of EUR 325.6 million. The growth was also in line with the overall development of the specialty retail sector in Finland.

The biggest company in the sector is Instru optiikka which has a 32% market share and turnover of EUR 102.6 million. Other major optical chains are Silmäasema with 19% market share, Specsavers (13%), Synsam Cazze (6%) and Fenno Optiikka (5%). Almost a quarter of the total market share is held by independent companies.

The total number of stores in the optical sector was 820, which was at the same level as in 2009. In 2010 the average turnover per optical store was EUR 397,000 . Instru optiikka had 173 stores, followed by Silmäasema (121), Specsavers (91), Fenno Optiikka (70) and Synsam Cazze (60). The smaller companies which are not part of the chains had a total of 299 stores.

About 96% of the companies in the sector are small businesses employing less than 10 people. There are only 20 larger companies in the Finnish optical sector.

Source: Kaupan Maailma