Synsam Group

What Synsam Group does

Synsam Group AB (publ) is the leading optical retailer in the Nordic region, operating approximately 600 stores under the Synsam, Synsam Outlet, and Profil Optik brands across Sweden, Denmark, Norway, Finland, Iceland, and the Faroe Islands, complemented by e-commerce channels and a premium concept (NK Eyewear & Optics) at Nordiska Kompaniet department stores. Founded in 1968 and headquartered in Stockholm, the company manufactures and retails prescription eyewear, sunglasses, contact lenses, and provides clinical eye care services. A vertically integrated production and innovation center in Frösön, Sweden, designs and manufactures acetate frames and sunglasses (Alicia Lind, Isak V) with capacity scaling from 100,000 frames in 2025 to a planned 250,000 by 2028.

The core revenue engine is the Synsam Lifestyle subscription service, launched in 2020, which leases eyewear to customers with annual replacement rights and channels returned frames into the Synsam Outlet circular channel; this subscription base of 871,000 customers (as of mid-2025) accounts for 53% of total sales, with a stated 2029 target of 1,210,000 subscribers. Synsam EyeView technology assists eye examinations using remote opticians and digital instrumentation, already delivering 13% of eye exams in Sweden and 20% in Norway in H1 2025. The company has launched Ray-Ban Meta smart glasses across 200 stores, a Nuance hearing-enhanced eyewear line for combined vision and hearing correction, and celebrity collaborations led by the Erling Haaland Eyewear Collection expanding into Germany and the United Kingdom.

Synsam went public on Nasdaq Stockholm in October 2021 under ticker SYNSAM, having previously been controlled by Theia Holdings (CVC European Equity Fund V). FY2025 net sales reached SEK 7.1 billion. Leadership is anchored by CEO Håkan Lundstedt since 2015 and CFO Per Hedblom since 2017, with regional Managing Directors for Sweden, Denmark, Norway, and Finland. The business model combines recurring subscription revenue, in-store retail, professional eye examinations, hardware sales (smart glasses), and a circular second-hand channel, supported by technology-assisted clinical workflows and a shareholder discount program.

Name

Synsam Group

Legal name

Synsam AB (publ)

Website

https://synsamgroup.com

Company type

Public

Founded year

1968

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Synsam Group is the leading Nordic optical retailer operating approximately 600 stores across six countries, selling eyewear, sunglasses, contact lenses, and eye care services. Its Synsam Lifestyle subscription serves 871,000 customers and generates 53% of revenue.

Ownership category

akta.pro rank

Product category

Optical Retail and Eye Health Services

NAICS

Optical Goods Retailers (45613), Optical Goods Retailers (456130), Ophthalmic Goods Manufacturing (339115)

SIC

Ophthalmic Goods (3851)

akta.pro primary industry

Optical Dispensing & Eyewear Retail (Glasses/Frames/Lenses) (HLAKAKAL)

akta.pro secondary industries

Ocular Imaging & Diagnostic Testing Centers (HLAKAKAN), Eyewear Retail & DTC Brands (Frames & Sunglasses) (CRAAAKAK)

Keywords

• Optical retail services
• Eyewear retail
• Contact lens subscriptions
• Eye health services
• Smart eyewear products

Headquarters

HQ city

Stockholm

HQ country

Sweden

HQ region

Europe

Offices4 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Marketing or Sales, Infrastructure, Technology or R&D

Revenue model

1. Synsam Lifestyle Subscriptions: Subscription service for spectacles and sunglasses where customers pay recurring fees for access to eyewear with annual replacement rights. Accounts for approximately 53% of Synsam's sales with 871,000 total subscription customers as of mid-2025.
2. In-Store Retail Sales: Traditional point-of-sale revenue from optical frames, sunglasses, lenses, contact lenses, and eye examinations in physical retail locations.
3. Contact Lens Subscriptions: Recurring contact lens delivery subscriptions with termination rights one week before next delivery.
4. Synsam Outlet Second-Hand Sales: Sale of returned, recycled eyewear from Lifestyle subscriptions and discontinued frames through Synsam Outlet concept.
5. Eye Examination Services: Clinical eye care services including fundus photography for detecting cataracts and glaucoma.
6. Smart Glasses Sales: Sale of connected AI eyewear including Ray-Ban Meta smart glasses with prescription lens options.

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels6 records

Core offering

Synsam Group manufactures and retails optical products including prescription glasses, sunglasses, contact lenses, and hearing-enhanced eyewear, while providing clinical eye examination services through approximately 600 retail stores across the Nordic region. The company operates a subscription-based circular eyewear service called Synsam Lifestyle that accounts for 53% of total sales, alongside proprietary house brands and exclusive designer collaborations. The business combines vertical integration via Swedish production at the Frösön facility with technology-enabled eye care platforms such as Synsam EyeView and smart eyewear integrations.

Differentiator

Problem solved

Functional benefit

Brands

• Synsam Lifestyle: Spectacles subscription service launched in 2020, offering customers the ability to rent eyewear with annual replacements and returns for reuse or recycling.
• Nuance
• Ray-Ban Meta Smart Glasses
• Alicia Lind
• Isak V
• NK Eyewear & Optics

Products and services

• Synsam Lifestyle Subscription

Quantifiable outcome

• Synsam Lifestyle accounts for 53% of total sales with 871,000 subscription customers
• +6 more outcomes

Named customers2 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

AI capability4 records

Feature5 records

Partnerships

Four partnerships are on record, tiered flagship and core.

• Erling HaalandflagshipGTM or Marketing Partner · 28 April 2026Exclusive strategic collaboration with Norwegian football star Erling Haaland for eyewear collection under his name. The collection includes 64 models of optical, sunglasses, and sports eyewear designed for broad demographic. This partnership also marks Synsam's expansion onto international markets including Germany and UK.
• Meta (Ray-Ban)coreTechnology or Integration · 8 July 2025Synsam Group launched Ray-Ban Meta smart glasses in 200 stores across Sweden, Norway, Finland, and Denmark, marking the introduction of connected AI eyewear to the Nordic market. The smart glasses feature 12 MP camera, Meta AI voice assistant with real-time translation across four languages, open-ear audio, and integrations with Spotify and Meta's messaging platforms.
• amforicoreStrategic or Co-development PartnerSynsam is a member of amfori, applying the amfori BSCI Code of Conduct for suppliers. All suppliers must commit to BSCI compliance and only engage production units with approved BSCI audits to ensure responsible practices in the supply chain.
• NK (Nordiska Kompaniet)flagshipChannel Partner/ Reseller/ DistributorPremium retail partnership for NK Eyewear & Optics concept stores featuring luxury eyewear brands. Stores located at NK department stores in Stockholm and Gothenburg.

Scale indicators10 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• GrandVision (now part of EssilorLuxottica): European optical retail platform operating banners such as Vision Express and Pearle, now folded into EssilorLuxottica. Comparable to Synsam in store-based eye care and multi-banner retail strategy across European geographies.
• EssilorLuxottica: Global integrated eyewear company combining lens manufacturing, branded frames (Ray-Ban, Oakley, Persol) and retail chains (LensCrafters, Sunglass Hut, Apollo). Comparable as both a key supplier and competitive force: Synsam's Ray-Ban Meta offering and NK luxury assortment depend on EssilorLuxottica-owned brands.

Direct peers

• Fielmann AG: German-headquartered optical retail chain operating more than 1,000 stores across Europe with vertically integrated lens manufacturing. Highly comparable to Synsam in combining own-brand frames, in-store optometry, subscription-style offerings and a dominant regional store footprint.
• Specsavers: Privately held optical and audiology retail chain with thousands of stores globally, including the Nordics. Competes head-to-head with Synsam on store-based eye examinations, own-brand frames, contact lens subscriptions and value positioning.
• Synoptik: Nordic optical retail chain owned by IAC (formerly part of the same groups competing for the region). Overlaps directly with Synsam in Sweden, Denmark and Norway on store-based eye exams, branded frames and contact lens subscriptions.
• National Vision Holdings: US optical retailer operating America's Best, Eyeglass World and other banners with in-store exams and value positioning. Comparable to Synsam on multi-banner retail strategy, in-store optometry and affordable pricing.

Emerging players

• Warby Parker: US-based DTC optical brand selling own-brand frames online and through retail stores. Comparable to Synsam on house-brand positioning and omnichannel model, though operates a different price tier and lacks subscription mechanics at Synsam's scale.

Others

• Safilo Group: Italian eyewear manufacturer with proprietary and licensed brands (Carrera, Hugo Boss, Jimmy Choo). Comparable as a frame supplier to Synsam's retail network and as a competitor in branded eyewear manufacturing.
• Marcolin Group: Italian eyewear manufacturer producing licensed and proprietary brands (Tom Ford, Ermenegildo Zegna, Guess). Comparable as a supplier/competitor on the manufacturing side of the value chain that complements or competes with Synsam's own Frösön production.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/synsam-group

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Subsidiaries2 records

Funding overview

Funding rounds1 record

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Synsam Group