Mister Spex raises EUR 65 million to accelerate international growth and retail network expansion
- 28. Aug. 2019
Mister Spex, Europe’s leading online optician, has raised over EUR 65 million to drive further business expansion. The Büll Family Office led the equity round with participation from existing investors (Grazia Equity, Stephan Schambach and Ehssan Dariani among others) while Global Growth Capital has provided a senior debt facility. 2018 as a financial year marked a further milestone for the business, with Mister Spex maintaining strong top-line growth while also achieving profitability. This investment will enable the company to accelerate this strong momentum via further development of its retail store portfolio and acceleration of its international expansion plans.
“The continued success achieved over the past year yet again underlines how our business model has changed the whole eyewear sector,” said Dirk Graber, founder and co-CEO of Mister Spex. “The current financing round will enable us to invest in further growth, and we have established three clear strategic priorities: further expansion of our retail store network, internationalisation and additional investment into logistics. Through the Büll Family Office, we are delighted to have gained a very experienced partner in the retail sector, which will allow us to gain further momentum. Global Growth Capital has provided a complimentary debt structure to support our store expansion strategy.“
“We strongly believe in Mister Spex as a brand and business model and are looking forward to becoming a part of their success story. Given our long-standing experience in commercial real estate, we will actively support the management team with the expansion of their own store network”, says Albert Büll, founder of the Büll Family Office.
“We believe that Mister Spex has developed a unique business model that not only harnesses changes in consumer behaviour but also leverages multiple online and offline distribution channels to drive profitable growth. We are very exited to partner with their talented team,” says Olya Klüppel, Partner at Global Growth Capital.
Incorporated in 2007, Mister Spex has since become a leading online optician offering an extensive product portfolio of over 10,000 prescription glasses, sunglasses and contact lenses to its three million customers. The company’s online shops serve consumers in ten countries. In line with its omnichannel strategy, the company operates eleven of its own retail stores in Germany and has developed a wide network of partner opticians in Germany, Austria, Switzerland, the Netherlands and Sweden.
“Our continued success underlines our belief in combining the best of both worlds: online and offline,” added Dr. Mirko Caspar, co-CEO of Mister Spex. “Sales in our online shops continue to grow strongly. However, our experience shows that through the unique combination of online shops, our own retail locations and over 500 partner opticians, we are able to add an additional layer to the consumer experience and fully address the market potential. We remain committed to our omnichannel strategy.“
Contact details for journalists:
Mister Spex Public Relations
About Mister Spex:
Mister Spex GmbH is Europe’s leading online optician. Through its website, the Berlin-based company offers, alongside contact lenses, the most comprehensive range of directly available designer glasses and sunglasses in Europe, all at attractive prices. In addition to transparent pricing and cost savings for complete prescription glasses, customers benefit from free services such as eye tests and glasses adjustments, as Mister Spex already works in partnership with more than 500 local opticians in Germany, Austria, Switzerland, the Netherlands and Sweden. The Mister Spex service team is made up of qualified opticians providing customer advice by telephone or e-mail. The company has its own edging and mounting lab in Berlin, where the final production and quality control of the glasses takes place. The good quality of the glasses was confirmed in December 2014 by the German consumer research and advice foundation Stiftung Warentest, which named Mister Spex one of the best tested opticians (test 1/2015, p. 86 ff.).
Mister Spex is celebrating its tenth anniversary in 2018. Throughout Europe the company counts more than 3 million customers. Mister Spex currently employs over 450 staff and has been an apprenticeship company since 2015. The company operates its own websites in Germany, France, Spain, Austria, Switzerland, the Netherlands and Great Britain and took over the Swedish online eyewear shop Lensstore, which now operates as Mister Spex in Norway, Finland and Sweden, as well as the Norwegian contact lens retailer Lensit in January 2015. In February 2016 Mister Spex opened its first store in Berlin and was honored with the Red Dot Award for its innovative store concept in the same year. By now there are in total 18 Mister Spex stores. Besides the first one in the German capital, there are additional ones in Berlin, Oberhausen, Bremen, Bochum, Dortmund, Main Taunus shopping center near Frankfurt, Erfurt, Essen, Münster, Frankfurt, Hamburg, Cologne, Hannover, Magdeburg, Munich, Stuttgart and Karlsruhe. In 2017 Mister Spex also received the iF Design Award and the POPAI D-A-CH Award for its store design.
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