Fielmann

Fielmann AG
Aktiengesellschaft
Traded as FWB: FIE
Industry Retail, health care
Founded 1972
Headquarters Hamburg, Germany
Key people
 Günther Fielmann (founder, CEO and chairman of the management board), Mark Binz (Chairman of the supervisory board)
Services Ophthalmic opticians, prescription eyewear and sunglass retail
Revenue €1.35 billion (2013)[1]
€199.1 million (2013)[1]
Profit €142 million (2013)[1]
Number of employees
 16,158 (2013)[1]
Website www.fielmann.com
Fielmann store in Hamburg, Germany.

Fielmann AG is a German optics company focusing on retail eyewear. External sales in Europe with 679 branches in Germany, Austria, Switzerland, Poland, Luxembourg and the Netherlands (including franchises and industries) amounted to €1.35 billion in sales and 7.3 million glasses in 2013. The Fielmann stock is listed in the German MDAX index and at the northern German regional HASPAX index. With its 578 stores in Germany Fielmann enjoys a 51% unit market share of the industry, as well as a 20% sales market share. The company is seen as the market leader in Germany[2] and largest optical chain in Europe.[3]

Günther Fielmann, a state-approved master optometrist, is the founder, major shareholder, and chief executive officer of Fielmann AG.

Ownership Structure

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 an optometry shop 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 models of eyeglass frames for adults and two for children.

In 1981 Fielmann signed a special contract with the AOK insurance at Esens and designed 90 frame models of plastic and metal in 640 variants. 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 subsidiaries 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 and Master 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 created an initial tariff insurance.

In June 2007 Fielmann opened two subsidiaries in Luxembourg and is now present in six European countries.

On 6 January 2009 Fielmann's stock indexing advanced from SDAX to MDAX.[4]

In 2013 the revenue increased at 4.7% to €1.35 billion. Pre-tax profit increased at 10.2% to €199.1 million, income increased at 9.5% to €142 million.[1]

As of 31 December 2013 Fielmann operated 679 subsidiaries, employed 16,158 people, 2,874 of whom were in training. With a share of 5% of all German optometric stores, Fielmann trains 38% of all optometrist apprentices in Germany.

Products

As a producer, broker and service provider, Fielmann covers the entire supply chain of the optometry branch. Not only glasses, sunglasses and contact lenses but also hearing aids are offered.

Other activities

Every year, Fielmann plants one tree per employee.[5] In 2009, chancellor Angela Merkel, minister-president Peter Harry Carstensen and Günther Fielmann planted the one-millionth tree in Büdelsdorf.[6] Fielmann is also engaged in environmental protection, historic preservation and organic farming. 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 schools, municipalities, old people's homes and promotes youth sport.

References

  1. ↑ 1.0 1.1 1.2 1.3 1.4 "Annual Report 2013". Fielmann. Retrieved 30 April 2014.
  2. ↑ Nicolai, Birger (27 September 2004). "Fielmann vor Einigung mit Krankenkassen (Fielmann to reach agreement with health insurances)" (in German). Die Welt.
  3. ↑ "Bloomberg Markets: Hidden Billionaires". Bloomberg Businessweek. September 2011.
  4. ↑ "Unscheduled Adjustments in MDAX and SDAX". Deutsche Börse.
  5. ↑ Fielmann.de - Gesellschaftliches Engagement: Fielmann-Bäume
  6. ↑ Angela Merkels Stippvisite beim Brillenkönig 20. Mai 2009

External links