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www.brillen.de
CREATING THE BRILLEN.DE HYBRID SYSTEM
The optical industry situation in Germany after 2003
Total amount of ...
www.brillen.de
CREATING THE BRILLEN.DE HYBRID SYSTEM
Step 2: The Hybrid Optician
Our sales system
Establishing a network o...
www.brillen.de
CREATING THE BRILLEN.DE HYBRID SYSTEM
Step 2: The Hybrid Opticians (advantages)
in comparison
to online ret...
www.brillen.de
CREATING THE BRILLEN.DE HYBRID SYSTEM
Step 1: The product
Logistic
Production
facilites
Final assembly
stag...
www.brillen.de
CREATING THE BRILLEN.DE HYBRID SYSTEM
The development of brillen.de
2013
The introduction of
the brillen.de...
www.brillen.de
CREATING THE BRILLEN.DE HYBRID SYSTEM
Prognosis 2016 in Germany
700 partner opticians The increase of the
f...
www.brillen.de
CREATING THE BRILLEN.DE HYBRID SYSTEM
From a shop in shop system to a full store
The goal:
Shop in shop sys...
www.brillen.de
CREATING THE BRILLEN.DE HYBRID SYSTEM
In comparsion to brillen.de - WARBY PARKER
•	470 partner opticans sto...
www.brillen.de
CREATING THE BRILLEN.DE HYBRID SYSTEM
Internationalisation: Proof of concept Spain
Since 2014
Spain
Testing...
www.brillen.de
CREATING THE BRILLEN.DE HYBRID SYSTEM
Brillen.de Customer Journey
Browses for glasses
in-store (Brillen.de ...
www.brillen.de
CREATING THE BRILLEN.DE HYBRID SYSTEM
Brillen.de Equity Story
•	Management experience, qualifications
and t...
Focus on Leading European Internet companies
Covering over 400 companies across 25
online verticals, a broad range of over...
Brillen.de - NOAH15 London
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Brillen.de - NOAH15 London

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Start-up Stage - E-Commerce - Presentation by Daniel Thung, Co-Founder of Brillen.de at the NOAH 2015 Conference in London, Old Billingsgate on the 12th of November 2015.

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Brillen.de - NOAH15 London

  1. 1. www.brillen.de CREATING THE BRILLEN.DE HYBRID SYSTEM The optical industry situation in Germany after 2003 Total amount of opticians 12.000 Independent opticians 10.000 Stores 2.000 Fielmann • 580 stores • Sells 50% of all glasses in Germany Local opticians • 1 pair of glasses per day • Completely overpriced, around 1000 euros per glasses Online opticians • Rapidly growing • Hardly profitable
  2. 2. www.brillen.de CREATING THE BRILLEN.DE HYBRID SYSTEM Step 2: The Hybrid Optician Our sales system Establishing a network of partner opticians Frames are displayed in the partner opticians stores, forming a shop in shop system Internet marketing Making appointments, bringing customers directly into the partner opticians store The partner opticians is responsible for the sales and consultation with the use of our sales software The partner opticians receives 50% commission for their services 50% commission Appointment Internet marketing The brillen.de network brillen.de shop system Partner optician consultation sales
  3. 3. www.brillen.de CREATING THE BRILLEN.DE HYBRID SYSTEM Step 2: The Hybrid Opticians (advantages) in comparison to online retailers Eye test, consultation and fitting on site No returns A substantially higher market volume Lower priced advertising through higher conversions in comparison to Fielmann Lower and more attractive prices Internet marketing is possible due to our transparency of prices Quick and cost-efficient distribution Customer consultation done by the partner optician The high motivation of the independent opticians
  4. 4. www.brillen.de CREATING THE BRILLEN.DE HYBRID SYSTEM Step 1: The product Logistic Production facilites Final assembly stage Edging of the lens Frames Lenses Packaging The lower price 50% cheaper than at Fielmanns The production process is controlled centrally Our product The progressive glasses High growth potential Mass product The fast delivery In less then a few days
  5. 5. www.brillen.de CREATING THE BRILLEN.DE HYBRID SYSTEM The development of brillen.de 2013 The introduction of the brillen.de system The acquisition of the first 20 partner opticians During 2013 75 partner opticians Turnover of 1 Mio € During 2013 The move to Berlin and support of the MBG Brandenburg with the capital the expand 2014 The expansion to 300 partner opticians Turnover of 11 Mio € Today 470 partner opticians Turnover of 3,5 Mio € monthly Profitability: 2014 Profitable with an estimated result of 400.00. € 2015 Plan to make 2 Mio. €
  6. 6. www.brillen.de CREATING THE BRILLEN.DE HYBRID SYSTEM Prognosis 2016 in Germany 700 partner opticians The increase of the frame collection Profiting from the re- orders of long-stan- ding customers High growth potentional New orders Repurchases The addition of products
  7. 7. www.brillen.de CREATING THE BRILLEN.DE HYBRID SYSTEM From a shop in shop system to a full store The goal: Shop in shop system to becoming full store partner opticians The concept Low priced shop fitting concept Finance partner Full stores can be purchased for 20,000 €
  8. 8. www.brillen.de CREATING THE BRILLEN.DE HYBRID SYSTEM In comparsion to brillen.de - WARBY PARKER • 470 partner opticans stores and 12 showrooms in Germany • 80 partner opticians stores in Spain • 25 partner opticians stores in UK • 15 partner opticians stores in Austria • estimated revenue for Germany 2015 : 30 Mio € • profitable since 2014 • privately financed from founders, family and friends Brillen.de • 13 stores and 6 showrooms across 14 cities in the U.S. • estimated revenue 2015 : 115 Mio $ until now not profitable • Company value series D 1,2 Billion $ • Total Funding 215,5 MIO $ i.g. Investors: • General Catalyst Partners • American Express • Tiger Global Management • Wellington Management WARBY PARKER
  9. 9. www.brillen.de CREATING THE BRILLEN.DE HYBRID SYSTEM Internationalisation: Proof of concept Spain Since 2014 Spain Testing purposes 80 partner opticians Conclusion Estimating the same progress just like in Germany The system can profitably be applicable in various countries Demand Advertising costs
  10. 10. www.brillen.de CREATING THE BRILLEN.DE HYBRID SYSTEM Brillen.de Customer Journey Browses for glasses in-store (Brillen.de bran- ded “store in store“) Consultation & testing Browses for glasses on- line and makes initial selection Production Selection & Purchase Collection & Fitting CUSTOMER Goes to his local partner optician Redirected to the local partner optician Payment made via brillen.de Glasses delivered to local optician for fitting & pick up Goes to www.brillen.de
  11. 11. www.brillen.de CREATING THE BRILLEN.DE HYBRID SYSTEM Brillen.de Equity Story • Management experience, qualifications and track record • Large total addressable market (TAM) • Low online penetration • Online services not just take share from offline, but ctively grow TAM • Fragmented optician population under pressure from online players and large chains, in search of a solution to support their business • Combines best of “online” and “offline” worlds • Attractive price point • Wide product selection • Partner opticians used as stores (showroo- ming, consulting, pick up points) • Unique combination of stellar growth and profitability already achieved in 4 years • Attractive gross margins highlight long term profitability potential • Efficient customer acquisition • State of the art German technology production facility • Store network without associated costs • Vertical integration supports cost efficiency • Strong growth in Germany for years to come • Massive international opportunity, with new countries already performing • Scalable business model at limited incremen- tal cost 1 3 5 6 2 4 Strong Customer Value Proposition Large Growing Market Driven by Online Tran- sition Multiple Growth Avenues StellarGrowthWhile Attainingc.10% EBITDA StrongCustomer ValueProposition Efficient Vertically Integrated “Hybrid Optician”
  12. 12. Focus on Leading European Internet companies Covering over 400 companies across 25 online verticals, a broad range of over 500 investors as well as 100+ online-focused corporates Deep understanding of industry dynamics Ability to add value beyond banking advice Facilitates overall process and minimizes management distraction NOAH Advisors is globally well connected and has direct access to virtually all key players in the industry Knowledge of and strong relationships with potential buyers’ key decision makers Proactively finds and unlocks attractive investment opportunities for leading investors Annual NOAH Conference in its 8th year Over 40 years of combined relevant M&A experience Routine execution of M&A and financing transactions with sizes of several billion euros 22 successfully completed NOAH Advisors transactions underline successful transfer of M&A competencies to the Internet sector Entrepreneurial mind-set, focused on growing the business and establishing a reputation for excellence Ability to deliver top results in short time frames Highly success-based compensation structures align interests of clients and NOAH Advisors, and demonstrate conviction to deliver top results Creative deal solutions September 2015 December 2014 September 2014October 2014 May 2014 February 2013 May 2012 April 2011 Sale of a 70% stake in to Exclusive Financial Advisor to Drushim and its Shareholders Sale of 100% of for $800m to Exclusive Financial Advisor to Fotolia and the Selling Shareholders Sale of 100% of for €80m to Exclusive Financial Advisor to Trovit and its Shareholders Sale of controlling stake in to Exclusive Financial Advisor to Facile.it and its Shareholders sold 100% of for $228m to a joint venture between Exclusive Financial Advisor to Yad2 and its Shareholders Growth equity investment from for a 30% stake alongside Softonic’s Founders and Angel Investors at a valuation of €275m Exclusive Financial Advisor to Softonic and its shareholders 150 million growth equity investment from for a 50% stake alongside Fotolia’s Founders and Additional $150 million senior debt financing Total $300 million investment Financial Advisor to Fotolia and its Shareholders have acquired a majority stake in for $350m from Exclusive Advisor to Summit Partners and TA Associates Selected Completed NOAH Transactions Unique Industry Know-How Unmatched Network and Relationships Strong Investment Banking Competence Full Commitment - We Are Entrepreneurs! EUROPE’S LEADING INTERNET CORPORATE FINANCE BOUTIQUE ®

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