Interview Stephan Schulz-Gohritz, CFO of Mister Spex

"Rising expectations on the capital market required a rapid increase in profitability."

The capital market is putting many companies under pressure. Simultaneously changing structures, optimizing processes and increasing profitability can be a tough challenge, especially for international retailers. Mister Spex, one of Germany's leading opticians, is daring to do just that: with the "SpexFocus" transformation program, the company is heading into the future with ambitious plans. In an exclusive interview, Stephan Schulz-Gohritz, CFO of Mister Spex, talks about the challenges that have already been overcome, what business units the program affects and how Mister Spex is mastering the balancing act between internationalizing the online business and strengthening the existing store network despite time pressure.

Where do you place Mister Spex in the competitive optician market in Germany?

SCHULZ-GOHRITZ Mister Spex is a pioneer of the omnichannel approach and combines digital innovation with on-site expert advice. We offer the largest range in the industry and enable customers to buy glasses online or get advice in our 65 stores. Our stores are central to our omnichannel model, offering personal advice and precise eye tests. We are convinced of the importance of stationary stores but are currently focusing on profitability and developing our store network in a targeted manner. This reflects the fact that the optics market is changing due to digitalization, networked services and a growing awareness of eye health. Customers increasingly expect omnichannel offerings, and opticians are expanding their services in the medical field.

Your company launched the "SpexFocus" transformation program in 2024. What were the triggers and main objectives?

SCHULZ-GOHRITZ "SpexFocus" was launched to increase profitability and ensure sustainable cash generation. The rising expectations of the capital market required rapid implementation. Our goal is to increase EBITDA by more than 20 million euros. To achieve this, we have closed our international stores, streamlined structures and optimized processes. At the same time, we are improving our gross margin through adjusted pricing models, reduced discounts and a clear focus on our own high-margin brands such as SpexPro.