Fielmann: How things will continue after the founder’s death

Last Updated: 9. Januar 2024By

In the still young year of 2024, several great personalities have already bid farewell to this world. In addition to the greatest German footballer, Franz Beckenbauer, Günther Fielmann, the founder of the eponymous optician chain, has also passed away.

The king of glasses can claim to have revolutionized an entire industry. I would like to take his death as an opportunity to take a closer look at the Fielmann share for you.

A unique success story In 1972, Günther Fielmann opened his first eyewear store in Cuxhaven. Nine years later, the breakthrough came with the „zero tariff glasses“, the cash frame. This marked the beginning of a unique success story. Today, Fielmann is Europe’s leading optician chain. In Germany, every second pair of glasses sold comes from Fielmann. Hearing aids have also been part of the product range for several years.

At the beginning of January, Günther Fielmann passed away at the age of 84 at his country estate in Lütjensee near Hamburg. The management of the company was handed over to his son Marc in 2019, who has been acting as CEO since then.

Acquisitions in the USA In recent years, the steady growth of the company has slowed down somewhat. The corona year 2020, as well as 2022, brought significant profit losses. However, Fielmann was back on track recently. In the third quarter of 2023, the company recorded a 14% increase in sales to 526 million euros. Pre-tax, Fielmann earned 65 million euros, a quarter more than the previous year.

In the summer, the company announced two acquisitions in the USA. In addition to the US optician chain SVS Vision, Fielmann also acquired Eyevious Style. The company is behind the e-commerce platform Befitting, which aims to make it easier to buy glasses online.

Due to these acquisitions, Fielmann raised its annual forecast. External sales (including value-added tax and inventory changes) and group sales are expected to increase by 13% each to around 2.3 billion and 2.0 billion euros, respectively. Operating EBITDA and pre-tax profit are expected to grow by 18% each to around 400 million and over 190 million euros, respectively. The goal of 2.3 billion euros in external sales, set out in the „Vision 2025“ plan, will thus be achieved two years earlier.


Stock price is back on the rise After a sharp decline in stock price (between February 2020 and October 2022, the stock lost over 60%), the SDAX stock resumed its long-term uptrend last year.

After another downturn in the fall, during which the 200-day line was temporarily broken, the stock is now back on track to reach its 2023 high of 51 euros. If this hurdle is taken, the Fielmann stock should be able to target prices between 60 and 65 euros on an annual basis.