Succeed locally with a multi-channel, multi-brand approach

Sonova grows by winning country by country. To do so, we are strengthening our multi-channel, multi-brand approach and aligning Wholesale and Retail more closely. Customer insight increasingly guides R&D priorities, global marketing assets are shared and deployed consistently, and our lead generation engine is scaled across channels. At the same time, we continue targeted retail expansion to reach optimal scale in selected strategic markets.

Hearing care is inherently local. Channel structures, reimbursement systems, and customer expectations differ widely from one country to the next — and even within countries, consumer segments vary in their needs, preferences, and purchasing behavior. Success therefore depends on delivering the right brand, in the right channel, at the right price.

Sonova has long operated with a multi-channel sales strategy. We are now refining this approach by addressing each market with a clearly differentiated brand portfolio, broadening reach while minimizing channel conflict. This allows us to activate markets more precisely and compete effectively across segments and channels, minimizing channel conflict.

To support this strategy, we have moved to an integrated Wholesale-Retail operating model. This unified structure enables significant synergies. In innovation, insights from our retail network — including consumer needs, fitting behavior, and usage patterns — flow directly into R&D. This shortens feedback loops, supports more targeted feature development, and strengthens the connection between platform innovation and real-world use.

In market activation, integration allows us to coordinate launches and deploy global marketing assets consistently — across our own retail network and with wholesale partners. This ensures stronger, more coherent brand and product presence across channels and geographies.

Retail expansion remains an important enabler of local success. As our experience in markets such as Germany and Belgium has shown, scale matters. At sufficient scale, costs per lead and per store decline, while brand visibility and attractiveness to top talent increase. We therefore aim to reach optimal scale in selected strategic markets through a financially disciplined program of geo-targeted acquisitions, selective new store openings, and franchise models where appropriate.