Mister Spex increases sales

The optician start-up is holding its own despite the difficult market situation in the first half of the year. However, it has to revise its forecasts downwards for the year as a whole.

The omnichannel optician Mister Spex recorded sales growth in the first half of 2022, but has had to revise its overall forecast for the year downwards, as the company announced.

In the first half of the year, sales grew by just under eight percent, from 100.5 to 108.3 million euros. Sunglasses and contact lenses in particular proved to be sales drivers, which Mister Spex attributes to the increase in travel activity after coronavirus and the return to the office. The company also recorded significant growth in its brick-and-mortar stores. The expansion driven there in the first half of the year with twelve new stores is to be continued in the second half of the year, including with a first location in Switzerland. "Mister Spex remains very well positioned to gain further market share in a difficult market environment," says founder and Co-CEO Dirk Graber.

However, Mister Spex is adjusting its forecast downwards for the year as a whole and is targeting sales growth of seven to twelve percent. The company is unlikely to turn a profit in 2022, with a forecast EBITDA margin of minus three to six percent. However, the start-up wants to increase profitability in the near future and is planning to focus on its core markets and certain customer segments as well as its own brands. Savings could also follow.