Fielmann is a listed family business founded in 1981 by Günther Fielmann. The company primarily designs and sells glasses and eyewear fashion. By creating the No Cost eyewear (Nulltarif), Günther Fielmann enabled everybody to buy fashionable prescription glasses. The company’s focus is on customer-oriented service and products at fair prices. Next to the No Cost glasses, Fielmann also offers e.g. a three year warranty, satisfaction guarantee and best price guarantee.
Due to its deep roots in the optical industry and their activity throughout the whole value chain (opticians, designers, manufacturers and wholesalers), Fielmann offers a high expertise in the field of visual aids and a flexible supply chain. Nearly half of Germany’s future opticians are trained in a company owned facility to ensure the next generations of experts.
Source: Company Data
Source: Company Data
In 2019, Fielmann sold around 8.3 million glasses overall in comparison to 7.6 million in 2014, which is an average growth rate of 1.2% per year (CAGR 2014-2019). The company can sell their products at much more affordable prices due to the large quantities bought and manufactured by the company and the therefore accumulated volume discount. Nearly half of the glasses sold in Germany are sold by Fielmann. The company’s core markets are in Germany, Switzerland, Austria and Luxembourg. In addition to that Fielmann has identified Italy, Poland and Slovenia as growth or expansion markets.
Source: Company Data, AlsterResearch AG
Besides prescription glasses as the main sales driver, Fielmann also accounts smaller sale revenues from contact lenses and sunglasses (with and without prescription) as well as hearing aids.
While prescription glasses are sold offline (and omnichannel), sunglasses and especially contact lenses are also sold online. Fielmann is steadily working on developing new technologies to enable a reliable and easy way to purchase prescription glasses online, like real-time 3D try-on technologies, millimetre-precise 3D lens fitting or a sophisticated online eye-test.