BRIEF

on Fielmann AG (isin : DE0005772206)

Fielmann Group Closes Acquisition of Shopko Optical and Increases FY2024 Outlook

The Fielmann Group, a leading global eyewear provider, announced the completion of its acquisition of Shopko Optical. The transaction, which was signed on June 10, 2024, is a crucial step in the company's Vision 2025 growth strategy, expanding its presence in the United States.

Shopko Optical's consolidation begins on July 1, 2024, contributing to the German company's upgraded FY2024 sales outlook, now forecasted to reach around €2.3 billion, a 15% increase from the previous year. However, the North America segment will face transaction and integration costs, limiting profit contributions for FY2024.

Fielmann Group CEO Marc Fielmann emphasized this acquisition aligns with the company's mission to enhance customer experience in the eyewear sector. Shopko Optical's team, along with existing teams from SVS Vision and Befitting, will help redefine customer service standards in the Midwest.

Lukas Ruecker, CEO of Fielmann USA, highlighted the continued growth and market share gains of Fielmann USA. The integration of Shopko Optical will introduce new services and expand the company's offerings, benefiting millions of consumers across the Midwest.

Former Shopko Optical CEO Russ Steinhorst joins Fielmann USA as Executive Vice President and CFO, enhancing the leadership team with his industry experience and successful track record. More details about the US strategy will be shared at the Annual General Meeting on July 11, 2024.

R. H.

Copyright © 2024 FinanzWire, all reproduction and representation rights reserved. Disclaimer: although drawn from the best sources, the information and analyzes disseminated by FinanzWire are provided for informational purposes only and in no way constitute an incentive to take a position on the financial markets.

Click here to consult the press release on which this article is based

See all Fielmann AG news