Online business

Fielmann continues to develop its online business

Fielmann sees “omnichannel” as an important driver of its growth. In addition to fixed branches, Germany’s largest optician also wants to expand e-commerce into a technically complex sales channel with the help of artificial intelligence and new smartphone apps. There, customers should be able to manage the entire chain online, from measuring the visual defect to selecting the frame and ordering the finished glasses. In the long term, the market leader is aiming for a 10% online share in its own vision support business.

Fielmann branches were often not visited during the pandemic. It also had an impact on the balance sheet. Now, however, consolidated sales in the first half of the year increased by 29% to almost 790 million euros compared to the first half of 2020, which had been burdened by the first corona lock. For the second quarter alone, there was an increase of almost 60 percent.

The result is a profit of 64.5 million euros for the period from January to June, an increase of almost 150% compared to the previous year. This accelerates the recovery of Fielmann, having already reached the pre-crisis level in the first quarter.

Hopes for a moderate course of the corona pandemic and the expansion of its own online business inspire Fielmann’s predictions. For the current year, the company expects consolidated sales to increase by more than 20% to around 1.7 billion euros. Pre-tax profit is expected to rise from 175.5 million to over 200 million euros, as announced by Fielmann AG on Thursday in Hamburg (PDF).

According to his own statement, Fielmann is benefiting from “the interplay of increasing vaccination rates and declining coronavirus incidences.” The outlook is, however, subject to “that there will be no other notable restrictions due to the coronavirus pandemic during the year that would again affect our business”.

For the whole of 2021, Fielmann plans to set up digital sales channels in other countries as part of its “Vision 2025” and to open a total of 45 specialist optical stores across it. ‘Europe. It should cost 100 million euros per year.

For example, Fielmann would in the future be in stronger competition with the Berlin-based Mister Spex, founded in 2007 and which calls itself a “fundamentally digitally-oriented omnichannel optician” and last year achieved a turnover of 164 millions of euros. Spex shares were recently traded on the stock exchange.


Source of the article

Disclaimer: This article is generated from the feed and is not edited by our team.

Leave a Reply

Your email address will not be published.