Case 6: Bausch & Lomb (1994)

• Prof. Dr. Klaus Henselmann
• Dr. Stefan Hofmann

In the early 1990s, Bausch & Lomb, Inc. was a respected American company with a strong position in the optical products and eye-care sector. It was a leading manufacturerof contact lenses and sunglasses, and it had charmed investors with more than ten straight years of double-digit growth in sales and earnings. However, at the time, the Rochester, New York-based company was facing major strategic challenges. The strategy of moving beyond optics to a broader range of health products turned out to be rather unsuccessful; several big acquisitions were barely profitable. But at the heart of Bausch & Lomb’s developing problems lay the contact lens division, one of the company’s star performers.

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