Fielmann

Fielmann AG
Aktiengesellschaft
Traded as FWB: FIE
Industry Retail, optician
Founded 1972
Headquarters Hamburg, Germany
Number of locations
 723 (2017)[1]
Key people
 Günther Fielmann (founder, Co-CEO), Marc Fielmann (Co-CEO), Mark Binz (Chairman of the Supervisory Board)
Revenue €1.61 billion (2017)[1]
€248,6 million (2017)[1]
€172.9 million (2017)[1]
Number of employees
 18,522 (2017)[1]
Website www.fielmann.com
Fielmann store in Cologne
Fielmann Academy Plön Castle
Fielmann Factory Rathenow (Brandenburg)

Fielmann AG is a German company focusing on optical retail. External sales in Europe with 727 stores in Germany, Austria, Switzerland, Italy, Poland, Luxembourg, and the Netherlands (including franchises and industries) amounted to €1.61 billion in sales and 8.1 million glasses in 2017. Over 24 million people wear Fielmann glasses. Pre-tax profit increased at 3% to €248.6 million, income increased at 1% to €172.9 million.[2] At the end of 2017 Fielmann operated 723 stores, employed 18,522 people, 3,417 of whom were in training. With only 5% of all optical stores, Fielmann trains more than 40% of Germany´s future opticians.

The Fielmann stock is listed in the German MDAX index and at the northern German regional HASPAX index. With 5% of all optical stores, Fielmann achieved a 21% sales market share and a 53% market share in terms of units sold. Fielmann is market leader in Germany[3] and Europe´s largest optician.[4]

Günther Fielmann, a master optician, is the founder, major shareholder, and Chief Executive Officer of Fielmann AG. Since 12 April 2018 Günther Fielmann and Marc Fielmann jointly lead Fielmann Aktiengesellschaft in a Co-CEO structure.

Günther Fielmann retains the authority over strategic decisions, the expansion strategy, the collection development and the overarching responsibility. Marc Fielmann is in charge of public relations, marketing and the executive leadership of Fielmann AG.

Ownership Structure

The Fielmann family controls more than 71% of the company's shares through its family holding, KORVA SE, the Fielmann Familienstiftung and directly held shares.

Share Ownership Structure
5,88 %Günther Fielmann
55,00 %KORVA SE
8,78 %Marc Fielmann
1,98 %Sophie Luise Fielmann
28,36 %Free float

History

In 1972 Günther Fielmann established the first store in Cuxhaven. He recognised a gap in the market for eyewear for consumers using mandatory health insurance as payment, as these customers often faced a disappointing lack of covered choices in frames. At the time, there were only six plastic frames for adults and two for children.

In 1981 Fielmann signed a special agreement with the Esens statutory health insurance company and designed 90 fashionable and high-quality metal and plastic frames in 640 varieties. This was the end of an era with unitary health insurance glasses in Germany. In 1984 Fielmann started an advertising campaign with the slogan "Mein Papi hat keinen Pfennig dazu bezahlt! (My daddy didn't have to pay a cent himself!)" From 1987 to 1990 Fielmann expanded his share in the quantity market from 11% to 16% and at the time held 3% of all eyewear stores in Germany.

Fielmann is listed at the stock index since 1994. In the same year the company with 294 stores and 4,986 employees made a turnover of DM 868 million and a pre-tax profit of DM 80.5 million. In 1995 Fielmann took over Pro-Optik AG of Basel, Switzerland, with its 6 Swiss branches. The Fielmann shop in Zurich's Bahnhofstrasse gained an annual turnover of €16 million. With 4% of all German eyewear stores, Fielmann increased its market share from 32% to 38% from 1995 to 1998. 1999 brought about the market entry to Austria and 24 branches were opened there until 2007.

In 2001 the non-profit Fielmann-Akademie was established, which bought Plön Castle from the government of Schleswig-Holstein in 2002 and opened a training centre for optometrists there. Since 2005/2006 bachelor's and master's degrees in optometry are being offered in cooperation with the University of Applied Sciences Lübeck. After several years of refurbishments the castle was re-opened for visitors in 2006.

In 2002 a large production and logistics centre was opened in Rathenow, Brandenburg, where 5 million spectacle frames are being shipped per year.

After the cancellation of eyewear products from the catalogue of Germany's mandatory health insurances, Fielmann together with HanseMerkur insurance company offers the Zero-Cost Insurance.

On 6 January 2009 Fielmann's stock indexing advanced from SDAX to MDAX.[5]

Expansion

Fielmann is continuing its expansion at a sustainable pace. The focus lies on the Germanspeaking region as well as the adjacent European countries. At the start of July 2015, Fielmann opened its first store in Italy, in Bolzano. In 2017 Fielmann operated a total of 10 stores. In the mid-term, Fielmann plans to operate 40 stores in Northern Italy and is now present in seven European countries.

Products

As a designer, manufacturer, distributor and optician, Fielmann covers the entire value chain. Not only glasses, sunglasses and contact lenses but also hearing aids are offered.

Other activities

Fielmann plants a tree for every employee every year.[6] In 2009, chancellor Angela Merkel, minister-president Peter Harry Carstensen and Günther Fielmann planted the one-millionth tree in Büdelsdorf.[7] Fielmann is committed to organic farming and the preservation of historical monuments, manages long-term monitoring programs for environment and nature protection. Günther Fielmann does this as an organic farmer on his farm in Luetjensee farm as well as on the Schierensee and Ritzerau estates. Fielmann supports kindergardens and schools and also sponsors a wide range of youth sports.

References

  1. 1 2 3 4 5 "Annual Report 2017" (PDF). Fielmann. Retrieved 6 May 2016.
  2. ↑ Annual Report 2017
  3. ↑ Nicolai, Birger (27 September 2004). "Fielmann vor Einigung mit Krankenkassen (Fielmann to reach agreement with health insurances)" (in German). Die Welt.
  4. ↑ "Bloomberg Markets: Hidden Billionaires". Bloomberg Businessweek. September 2011. Archived from the original on 2011-09-29.
  5. ↑ "Unscheduled Adjustments in MDAX and SDAX". Deutsche Börse.
  6. ↑ Fielmann.de – Gesellschaftliches Engagement: Fielmann-Bäume
  7. ↑ Angela Merkels Stippvisite beim Brillenkönig 20. Mai 2009
  • "Fielmann - zwischen Discount und Qualität (Fielmann - between quality and discount)". NDR online. 2 December 2008.
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