Things are jerky at Fielmann, the glasses seller. The share price has been falling for years. The family business sees this too and is trying to take countermeasures. As Business Insider reported exclusively in December, the group has imposed austerity measures. At that time, Marc Fielmann, the CEO and son of the founder, announced that he wanted to save 125 million euros by 2025. Especially in the so-called central areas. They include the headquarters in Hamburg as well as several country headquarters abroad, the training locations and the production facilities of the Fielmann Group.
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In the meantime, the eyewear makers have concreted their course. As can be seen from an internal email from CFO Georg Zeiss that we have, the company wants to save 125 million euros per year starting this year. The goal: to secure the position as price leader.
In order to achieve the savings targets, Fielmann has identified several areas in which cuts should be made and processes optimized. According to the internal mail from CFO Zeiss, among other things, IT and digitization costs are “significantly” reduced. According to Zeiss, Fielmann spends around twice as much as comparable companies would spend on digitization.
