FMCE Exchange
Company History
In 1982 Bernhard Vehns started the success of today's FMCE Exchange enterprise by opening his innovative high-end consumer electronics retail store in Munich (Germany).
1986 the expanded business takes on the firm name HIFI COMPONENTS BERNHARD VEHNS GmbH. By 1991 HIFI COMPONENTS is supplemented by mail order trade and addresses customers throughout the German market with the first HIFI COMPONENTS catalogue. Home shopping and home delivery makes shopping with HIFI COMPONENTS even more attractive for customers.
1993 the first store opens its doors at famous Ku'damm in central Berlin. Only one year later the next HIFI COMPONENTS store opens in the heart of Munich (Oberanger 42). It is not only the stores and classic mail order trade that flourish; in 1996 Bernhard Vehns quickly senses the high potential of the new WWW and uses this new chance and the growing importance of the WWW to launchHIFICOMPONENTS.DE. In the following years HIFI COMPONENTS clearly establishes as the German market leader in consumer electronics online trading. The implementation of the innovative click-and-mortar concept opens new ways of accessibility for both mail order trade, as well as the individual portfolio of regional stores as they now can conveniently be accessed online by customers. The business that had started as a retail store in 1982 had become one of the most successful pioneers in the online trading business for premium consumer electronics in Germany.
The nationwide distribution quickly expands to unforeseen dimensions. To meet the steadily increasing online trading capacities, a newer and bigger logistics center is inaugurated in Hanover in 2003. Due to the growing number of European and international customers, the website gets an entire new look and format in 2005. The extension of the web-portal leads to the internationalization of the brand name HIFI COMPONENTS. After a few months HIFI COMPONENTS is well known with customers all over Europe. Consequently, the company expands and specializes within the areas; sales, logistics and customer service.
In 2006 HIFICOMPONENTS.DE re-launches with a new focus and a flourishing future in the European market. Due to HIFI COMPONENTS' European-wide popularity, professionalism, innovation and customer satisfaction, the demand for merchandise increases considerably above supply within a very short time. Office space and staff capacities have to be expanded to meet the high demand.
HIFI COMPONENTS' offices are relocated into a new multi-storey office building, providing high quality infrastructure, the best technical equipment, and premium information technology structures in the heart of Munich, close to HIFI COMPONENTS' retail store in Oberanger. HIFI COMPONENTS starts to hire even more high qualified employees, with a focus on multilingual competences to meet the increasing customer demand. Concerning the sources of supply, HIFI COMPONENTS expands its purchasing scope and simultaneously implements higher quality controls. In Germany, the extended and enlarged retail stores, in combination with the web-based click-and-mortar concept, and high quality services, build a solid basis for the future growth of HIFI COMPONENTS.
Online trading has been recognized by HIFI COMPONENTS as the channel holding the highest potential. Nevertheless, the needs, complexities and challenges of online trading in the area of consumer electronics increase on an annual basis. This leads to daily obstacles concerning pricing policy, sudden price cuts, ruinous competition, pressure from end customers, bonus rules, tight liquidity position, supply shortage, stock keeping, legal issues etc. HIFI COMPONENTS' strong market sensing ability enables once again, the company to take the lead. It is not fortune, but about taking the right strategic decisions at the right time.
HIFI COMPONENTS decide to close the online trade section as top-selling channel, in order to analyze the specific challenges and requirements that online retailers face, and have to cope with, on a daily basis. Together with experts from various segments, HIFI COMPONENTS GmbH establishes a one-of-a-kind success concept that merges the individual requirements of the companies involved. This integrated solution lays the basis for a new milestone in the company’s history. The brand name HIFI COMPONENTS is well known for professionalism, quality and service throughout Europe from its early online trading days.
The HIFI COMPONENTS business management meets the demands and requests of many German and international corporate groups, as well as medium-sized enterprises, and extends the successful company through the wholesale channel FMCE Exchange. All relevant channels and retail structures of consumer electronics are now utilized. From that time on, up to 500 partners are invited to benefit from the long-lived HIFI COMPONENTS’ know-how at no charge. Partners can now serve their markets fully independently, and free from additional requirements, without facing typical market difficulties. Considerations, like liquidity, pricing or stock-keeping, are no longer issues. Due to the swift progression, new business segments get developed: marketing of consumer electronics (LCDs, plasmas, Blu-Ray, Camcorder, Hifi, game pads), photo equipment (D-SLR and digital compact cameras), telecommunication devices (GSM), and small domestic appliances (bean-to-cup coffee machines, vacuum-cleaning roboters, kitchen machines, lifestyle products and personal care articles).
In October 2007, HIFI COMPONENTS BERNHARD VEHNS GmbH converts into HIFI COMPONENTS GmbH, focusing on further expansions. As of this point, it is the holding company of three businesses with a complex capital structure based on a strong rating. The degree of brand awareness for FMCE Exchange permanently increases; very soon the wholesale channel builds the most important and solid basis of the company. The success formula consists of the know-how of the market leader in e-commerce acquired over many years in the European Union. Based on own experiences with end customers on a very high quality level, HIFI COMPONENTS GmbH recognizes and meets customer needs. HIFI COMPONENTS, as a former European market leader in the consumer electronics market segment, therefore knows the requirements and issues of online traders best. The FMCE Exchange service package is perfectly synchronized with customers' needs, requests, challenges and demands. Therefore it helps gain a perfect positioning after a very short time in the specific market segment.
2008 was regardless of the financial crisis, the overall regression, and the closure of the online retail segment, a highly successful year for HIFI COMPONENTS GmbH with strong increases in sales.
In August 2009, FM Consumer Electronics GmbH is launched, and simultaneously the brand "FMCE Exchange" is registered with the European Trade Mark. Through continuous adjustments to the growing requirements of the fast moving consumer electronics market, and a steady increase of business partners, the progressive and innovative group of companies keeps its position as one of the leading and most prestigious traders in Europe in 2010.
Business Model
Fast Moving Consumer Electronics Exchange is the home of business intelligence within the CE industry.
Our B2B aim is to work with individual companies and organisations who are both well established and have a proven track record with an aim to grow and to achieve their potential within this very challenging industry.
After more than 25 years of experience and with a new fresh and strategic approach, our industry is still fast moving and prices are decreasing quickly, however the success of FMCE Exchange is increasing and carried forward to all companies that join our unique network. Members using our resources have an edge in today´s competitive marketplace.
FMCE Exchange unites up to 500 companies within the consumer electronics market such as retailers, distributors, manufacturers, importers, exporters all being experts in this area. As a B2B service provider FMCE Exchange is the leader in exchange management information, efficiently being able to sell & supply all major brands including topsellers in large quantities in addition to ideas and information that can be swiftly provided through the normal and the reverse supply chain.
This essential source of information through FMCE Exchange covers all market needs. Companies are faced with market research all over Europe with trends about market share and most importantly, up to date information regarding price changes that lowers the risk of unsellable stock. With a unique European outlook, FMCE Exchange offers daily updates from the fast moving world of CE along with other value added services leading to a comprehensive source of information that keeps users coming back to the site every day.
Mission Statement
The mission of FMCE Exchange is to make the industry bigger and to increase market share by implementing an online CE Exchange to simplify everyday business life as well as building up a professional supply chain and support for our business partner community: Together we connect and aim to create CE Europe!
Vision Statement
The vision of FMCE Exchange is to become the major independent CE Exchange in the EU and to provide new technology and knowledge to the CE community that will change the face of consumer electronics for the next decades.
