The Fielmann Group, a leading eyewear provider in Hamburg, today announced it has entered into a definitive agreement to acquire 100 percent equity ownership of SVS Vision, an optical retailer based in Mt. Clemens that operates more than 80 stores across nine states.
Terms of the transaction were not disclosed. As a market leader in Michigan, SVS Vision generated more than $100 million in sales in 2022. The transaction is expected to close by Aug. 31, subject to customary closing conditions.
In addition, the Fielmann Group announced it has entered into a definitive agreement to acquire 100 percent equity ownership of Eyevious Style Inc. in Calgary, an online eyewear retailer that operates under the name Befitting. The company simplifies eyewear shopping for vision insurance customers. The transaction is expected to close today.
Both transactions represent an important milestone in Fielmann Group’s Vision 2025 growth strategy.
“Our acquisitions of SVS Vision and Befitting are in line with our Vision 2025 with which we digitalize and internationalize our family business,” says Marc Fielmann, CEO of the Fielmann Group. “This is the first step in our long-term plan to re-define what U.S. consumers can expect of eyecare and eyewear.”
In connection with the transactions, the Fielmann Group announced that it has appointed Lukas Ruecker as CEO of Fielmann USA Inc. Lukas joins the Fielmann Group after spending more than a decade at Luxottica. Over the last 10 years, he served as president of EyeMed Vision Care, which he transformed into the fastest-growing vision benefits provider globally.
“Over its 50 year history, the Fielmann Group has shaped the European eyewear market with its signature customer centricity,” says Ruecker. “SVS Vision is known for its friendly service, great people, and longstanding heritage, while Befitting provides an exceptional digital platform and outstanding talent.
“Combined they constitute the Fielmann Group’s omnichannel platform with which we are going to empower our customers in US optical retail.”
The Fielmann Group serves more than 27 million customers via its omnichannel platform consisting of digital sales channels and about 1,000 retail stores. Founded in 1972, it is led by Marc Fielmann, representing the second generation of the Fielmann family who still owns the majority of the company’s stock. The business employs more than 23,000 people worldwide.
SVS Vision is a privately held business that employs around 650 people, and the company owns and operates its own optical laboratory as well as a vision insurance.
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