DN Capital portfolio company Mister Spex secures €16M investment to support international growth
Mister Spex, Germany’s largest online optician, has successfully closed an investment of 16 million Euro. New investor Scottish Equity Partners (SEP) led the financing round in the Berlin-based e-commerce company. Existing investors including XAnge and DN Capital also participated in the round.
Mister Spex will use the new capital to increase its partnerships with independent opticians and to support international expansion. Dirk Graber, founder and CEO of Mister Spex, says: “We will use this funding to concentrate on the acceleration of our already successful multi-channel programme with local opticians in Germany. We plan to grow the service network for our customers from our current base of 300 to a target of 400 to 500 partner opticians in the medium term. Additionally we plan to develop our international online shops for France, Spain and Sweden. Our new investor has international e-commerce expertise and this funding round will enable us to expand upon our position as the largest online optician in Germany.”
Jochen Klüppel of Mister Spex’s first venture capital investor Grazia Equity says: “Mister Spex has already succeeded in becoming market leader in one of the most exciting e-commerce markets in Europe. The company has a strong management team and has achieved sales growth of more than 50 percent in the last year. We believe this founding round will enable Mister Spex to take a significant share of the 20 billion Euro European eyewear market.”
Since its formation in December 2007, Mister Spex has grown rapidly and achieved turnover of 26 million Euro in 2012. The company has more than 500,000 customers purchasing from an extensive range of more than 5.000 models of high quality fashion and well-known brand prescription glasses, sunglasses and sports glasses as well as contact lenses. Mirko Caspar, Co- Managing Director at Mister Spex, continues: “With our huge product portfolio, excellent quality and attractive prices we have been able to establish Mister Spex as the primary online retailer in the German eyewear market within a short period of time. Our aim is now to replicate that model within Europe.”
About Mister Spex:
Mister Spex GmbH is the largest online optician in Germany. Through the Internet, the company offers an extensive range of high quality prescription glasses, sunglasses, sports glasses and contact lenses at competitive prices. Mister Spex has started cooperation with already more than 300 local partner opticians. They support the company’s customers in terms of measurement of correction values as well as adjustment of the glasses.
In 2012 Mister Spex had a turnover of 26 million Euro and thereby belongs to the ten largest retailers in the German optics industry. Since the start of its online shop in April 2008, Mister Spex has managed to attract more than 500,000 customers. The company currently has about 200 employees and is expanding within Europe with online shops for France, Spain and Sweden. In September 2012 Mister Spex has been awarded “online shop of the year” in Germany.