The private equity arm of the investment bank Goldman Sachs has bought a substantial stake in Mister Spex for a double-digit million amount and is now the largest stakeholder in the Berlin-based company, German newspaper Die Welt
According to press reports, Andrew Wolff, Head of Goldman Sachs Merchant Banking Division for Europe, comments:
“We have been impressed by the achievements of Mister Spex. The company’s innovative business model, strong organic growth, and high-quality management team position it well for future success. We hope to assist the company to achieve its ambitions and create value for its customers and shareholders.“
The capital is to be used, according to the media, to strengthen Mister Spex’ position as one of Germany’s leading online spectacles retailer and to expand into foreign markets. According to founder and CEO Dirk Graber, apart from Germany, Mister Spex is already active in Scandinavia, Austria, France, and Spain. More countries are to follow.
German Startups Group congratulates Mister Spex
As an existing investor in Mister Spex, Christoph Gerlinger, CEO of German Startups Group, expresses his excitement:
“Big congratulations to the very successful management team of Mister Spex for getting such a top tier lead investor on board! This opens up very exciting perspectives.”
German spectacles market is shifting online
Even though traditional retailers of eyewear like Fielmann or Apollo Optik still dominate the German market, e-commerce platforms are on the rise. Apart from the convenience of buying online, customers appreciate the price transparency as well as the generally lower level of prices made possible by the online retailers’ absence of store rents and store personnel costs.