Eyewear specialist retailer and optician Specsavers has taken significant steps to secure its future by placing the business into a family trust. This strategic move aims to protect the company from being sold to private equity firms, ensuring its longevity beyond the lifetimes of co-founders Dame Mary Perkins and her husband Doug, who sit on the executive board and are both in their late 70s.

Specsavers holds a strong family presence within the company, with their son John Perkins serving as the chief executive, and their daughters Julie and Cathryn holding senior positions. In addition, two of Mary and Doug Perkins’ grandchildren are already employed by the company. By establishing the family trust, Mary Perkins expresses her desire to leave a lasting legacy for Specsavers.

The journey of Specsavers began in the mid-1980s when Mary and Doug Perkins founded the company on the Channel Islands. Since then, it has experienced remarkable growth and expanded into an international business. With approximately 42,000 employees globally and a network of 2,300 franchise stores, Specsavers has become a prominent player in the eyewear industry. Last year alone, the company sold an impressive 22 million pairs of glasses and half a million hearing aids. These strong sales contributed to Specsavers’ outstanding financial performance, with total sales reaching £3.4 billion and profits totaling £446 million.

A key element of Specsavers’ brand identity is its widely recognized tagline, “should have gone to Specsavers.” This catchy phrase has resonated with consumers and played a significant role in driving sales for the company.

Placing the business into a family trust is a strategic move by Specsavers to guarantee that it remains under family control and cannot be sold to private equity firms in the future. This decision underlines the founders’ commitment to preserving the company’s legacy and supporting its continued growth. With the active involvement of the Perkins family within the business, Specsavers is well-positioned to thrive in the eyewear industry.

By establishing the family trust, Specsavers has implemented a measure to safeguard its future. With its extensive store network and global reach, the company is poised to maintain its position as a leading eyewear retailer. As Mary and Doug Perkins approach their 80th birthdays, their forward-thinking approach ensures that Specsavers will continue to operate with the same values and dedication for generations to come.

In conclusion, the decision of Specsavers to place the business into a family trust reflects the founders’ vision to protect the company’s future and prevent it from being sold to private equity firms. With the active involvement of the Perkins family, including their children and grandchildren, Specsavers is well-positioned to continue its growth and success in the eyewear industry. As the company celebrates its achievements, it looks forward to the future with a steadfast commitment to providing quality eyewear and maintaining its global presence.

Helpful links:
Specsavers official website
Specsavers on Wikipedia