Mister Spex, which claims to be Europe's leading online optician, completed a round of financing for over €65 million at the end of August. The Büll Family Office, based in Hamburg, led the equity financing round with the participation of existing investors, among them Grazia Equity, Stephan Schambach and Ehssan Dariani. Global Growth Capital provided senior debt.
After a successful financial year in 2018, with a positive adjusted Ebitda, Mister Spex says it wants to focus on store expansion and internationalization while upgrading its logistics in the coming years.
The German omni-channel eyewear retailer wants to have 40 stores in operation by the end of 2020. It recently opened two new brick-and-mortar store in Frankfurt and Hamburg, raising its total German stores to 12. It had opened four of these – in the Main-Taunus-Center, Erfurt, Essen and Münster – in 2018. The first physical store was opened in Berlin in February 2016, followed by another one there in 2017 and four more stores in Bremen, Bochum, Dortmund and Oberhausen.
The new stores are located in the MyZeil shopping center in Frankfurt, covering 58 square meters, and at the Alstertal shopping center in Hamburg, encompassing 100 square meters. In its new store in Frankfurt, Mister Spex offers 600 models of corrective frames and sunglasses, while it offers about 700 models of corrective frames and sunglasses in Hamburg. Consumers also have access to the full online range of products, with 11,000 models from more than 150 brands. Mister Spex offers eye tests and frame adjustments free of charge.
Mister Spex also opened a learning center for apprentices in ophthalmic optics in North Rhine-Westphalia in August. Spread over 120 square meters, the learning center is located directly above Mister Spex' physical store in Münster, which opened a year ago. Seven new apprentices started working at the center in August.
In addition to its online store in Germany, Mister Spex manages online stores in Austria, France, Spain, Switzerland, the U.K. and the Netherlands. In July 2013, Mister Spex acquired Lensstore, the Swedish-based online optical retailer, which is now operating under the Mister Spex brand name in Norway, Finland and Sweden.