Hispanics in the U.S. represent a unique opportunity for the much-loved brands of their motherlands to expand their reach north of the border. There are now more than 50 million Hispanic people living in the U.S. and represent one in six Americans – a growth exceeding 46% over the past decade. In fact the U.S. is home to the second highest Hispanic population in the world, after Mexico, and some 67% of U.S.
Hispanics are of Mexican origin, with more than half living in Texas and California. As such, there is a high demand for Mexican products that are well known and missed by their former citizens. Furthermore, U.S. Hispanic purchasing power is expected to reach $1.3 trillion for 2013.
Put into perspective, this is equal to 73% of Mexico’s GDP last year.
One such company that is ahead of the curve in targeting the Latino sector in the U.S. is Mexico’s Devlyn Opticos, a family-owned multinational optical retailer with operations in Mexico, Guatemala, El Salvador and, more recently in the U.S.
In Mexico, the Devlyn brand enjoys a commanding dominance in consumers’ minds when it comes to vision care. It has more than 800 retail optical stores located in the most important shopping malls, grocery and department stores in Mexico, as well as ophthalmology clinics with state-of-the-art facilities that provide advanced eye care for children and adults. Devlyn-branded products such as contact lenses, eye vitamins, eye drops and eye makeup remover are also sold successfully in the most important grocery retailers and drugstore chains in Mexico.
The company understands the demographic, cultural and consumption patterns of U.S. Hispanics and has in its sights the number one position as the best value, leading optical retailer providing fashionable and designer eyewear at affordable prices to the low-middle income segments of the population, clearly with a special emphasis on the Hispanic market.
Vision care education is also part of its strategy to increase its position in the U.S. market and the company is behind various vision screening campaigns. In addition, the Devlyn Foundation works with local optometrists and service organizations, such as the Rotary Club, to provide eye exams and basic lenses as part of its extensive community outreach program.