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German family-owned group Fielmann acquires US optician SVS Vision

Positive performance in European inventory markets and the contribution of new acquisitions in the U.S. have influenced an increase in 2023 guidance.

Another point of “Vision 2025”, part of the strategic plans for the German family-owned company Fielmann has now been successfully implemented. As of September 1, 2023, the Fielmann Group has completed the acquisition of SVS Vision in the USA and increased its annual forecast. Fielmann is optimistic that the investments made as part of “Vision 2025” will continue to have a positive impact on sales growth and that the cost-saving program will help to achieve the communicated margin.
The optical chain now expects external sales of 2.3 billion euros for the current year, representing a year-on-year increase of 13 percent. EBITDA is estimated at 400 million euros and EBT at 190 million euros, both representing growth of 18 percent year-on-year.

The Fielmann Group is a listed family company based in Hamburg. The company supplies 28 million customers with glasses, contact lenses and hearing systems via an omnichannel business model with digital sales channels and around 1,000 branches.
SVS Vision is a US optometrist headquartered in Mt. Clemens, Michigan. The company is the market leader in Michigan, operating a total of more than 80 stores in 9 U.S. states and employing approximately 650 people. In 2022, SVS Vision generated more than $100 million in external sales. The company has a surface grinding and eyewear manufacturing facility, as well as its own eye insurance business


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