Fielmann invests millions in augmented reality provider FittingBox
Hamburg — Fielmann Ventures GmbH, a wholly owned subsidiary of Fielmann A, has acquired around 20 per cent of the shares in augmented reality specialist FittingBox S.A. as part of a capital increase. The strategic investment in the French technology company is a consistent step in Fielmann’s digitization strategy. The parties have agreed not to disclose the exact purchase price.
Marc Fielmann (photo), Chairman of the Management Board of Fielmann AG: “With 13 patents, FittingBox is the world leader in the field of 3D fitting of glasses and sunglasses. With this investment, we are deepening our strategic cooperation. Together we are working on the online purchase of glasses in Fielmann quality. This requires innovative technologies such as
the 3D try-on, but also the millimeter-precise 3D fitting of glasses. This is how Fielmann is digitizing the optical industry to the benefit of customers without compromising on quality.”
Thomas Rützel, Managing Director of Fielmann Ventures GmbH: “Our investment in FittingBox is the result of a detailed analysis. FittingBox has developed a 3D fitting technology that is clearly superior to all relevant alternatives. This technology is a key component in the digital platform that Fielmann Ventures is developing with partners for the optical industry.”
Benjamin Hakoun, Managing Director and co-founder FittingBox S.A.: “We are thrilled to have Fielmann, one of the world’s leading optical companies, as our strategic partner. Thanks to the investment, we can develop our technology solutions even faster and open up new sales markets.
Our two companies are united by a strictly customer-oriented corporate culture. Together, we will further expand FittingBox’s position as the leading technology solution for omnichannel eyewear purchasing, accompanying the wearer throughout the entire customer journey, online and in-store. We are very pleased to have Squair Law as our legal advisor and CapM Advisors as our financial advisor in closing this investment.
Ariel Choukroun, CTO and co-founder FittingBox S.A.: “Fielmann has decades of experience, knows the needs of spectacle wearers like no other company. This puts FittingBox in a position to align our technology solutions even better with the wishes of the customers. On the one hand, spectacle wearers benefit from this, and on the other hand, of course, our customers, i.e. retailers and manufacturers, also benefit. Kreaxi and LBO France remain shareholders in FittingBox. They have enabled the growth of our company with their early investments.”
In the next few weeks, Fielmann will integrate the 3D fitting into the new omnichannel consulting process
in the test market Austria, is testing the solution both in its branches and online. The rollout of the new system in Germany will follow in 2019.
About Fielmann Ventures GmbH
Fielmann Ventures GmbH was founded in August 2012 as an independent subsidiary of Fielmann AG based in Hamburg. Fielmann Ventures develops and promotes products, technologies and sustainable business models for the future of the optical industry.
About Fielmann AG
Fielmann stands for eyewear fashion at a fair price, operates over 700 branches across Europe. 24 million people wear glasses from Fielmann; in Germany, the listed family company sells every second pair of glasses. Fielmann covers all levels of value creation in optics, is a designer, manufacturer and optician.
About FittingBox S.A.
Founded in 2006, FittingBox (www.fittingbox.com) is the world’s leading provider of augmented reality technology such as 3D try-on for eyeglasses and sunglasses. The company is headquartered in Toulouse, France, and also operates a sales company in Miami, USA. FittingBox develops innovative technology solutions and digital content for the optical industry, has the world’s largest database of frame photos and 3D models. In the more than 10-year history of the company, FittingBox has already received numerous awards and prizes in the field of research and innovation.