Mister Spex SE
F:MRX
Mister Spex SE
Mister Spex SE operates an online shopping portal that sells eyewear and glasses. The company is headquartered in Berlin, Berlin. The company went IPO on 2021-07-02. The company also sells ski goggles for skiing, running, beach volleyball, golf, outdoor and water sports. The brands promoted by the Company include Ray-Ban, Mexx, Boss Orange, Gucci, Tommy Hilfiger, Tom Ford, Marc O’Polo, Titanflex, Prada, Oakley, Ralph Lauren, Lacoste, D&G, ck Calvin Klein, Police, BOSS, Escada, Marc Jacobs, Ryan Belluni and Prada, among others. In addition, through the contact lens distributor Lensit.
Mister Spex SE operates an online shopping portal that sells eyewear and glasses. The company is headquartered in Berlin, Berlin. The company went IPO on 2021-07-02. The company also sells ski goggles for skiing, running, beach volleyball, golf, outdoor and water sports. The brands promoted by the Company include Ray-Ban, Mexx, Boss Orange, Gucci, Tommy Hilfiger, Tom Ford, Marc O’Polo, Titanflex, Prada, Oakley, Ralph Lauren, Lacoste, D&G, ck Calvin Klein, Police, BOSS, Escada, Marc Jacobs, Ryan Belluni and Prada, among others. In addition, through the contact lens distributor Lensit.
Revenue Decline: Net revenues dropped 18% year-on-year to EUR 47.5 million in Q3 2025, driven by reduced international operations and a strategic focus on profitability.
Profitability Improvement: EBIT loss improved by EUR 10 million to minus EUR 4.6 million, reflecting strong gross margin gains and cost controls.
Gross Margin Expansion: Gross margin rose by 600 basis points to 54.7%, marking the first consecutive quarter of margin improvement.
Store Network Performance: 35 stores achieved EBIT margins above 10% in Q3, nearly doubling from 18 stores a year ago.
Cost Reductions: Headcount cut by 10% since the start of 2025, with a further voluntary separation program in October affecting 25 people.
Strategic M&A: Announced acquisition of 4 profitable optical stores, adding around EUR 4 million in annual revenue and EBITDA margin above 10%.
2025 Guidance: Management expects full-year net revenue to fall 10–20%, likely around the mid-point, with EBIT margin toward the lower end of minus 5% to minus 15%.
2026 Outlook: Focus will shift to optimizing tech and logistics, with further restructuring costs expected and a new segment reporting structure to be introduced.
