FMCE Exchange
Company History
In 1982 Bernhard Vehns started the success of today's FMCE enterprise by opening his innovative high-end consumer electronics retail store in Munich (Germany).
1986 the expanded business takes on the company 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 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 growing potential of online shopping and uses this new chance and the growing importance of the internet to launch HIFICOMPONENTS.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 enables a better 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 started as a retail store in 1982 had become one of the pioneers in the field of online trading for premium consumer electronics in Germany.
The nationwide distribution quickly expands. To meet the steadily increasing needs in the market, a larger logistics center is opened in Hanover in 2003. Due to the growing number of European and international customers, the website gets a new design in 2005. The new web-portal leads to the internationalization of the brand name HIFI COMPONENTS. After a few months HIFI COMPONENTS has become well known throughout Europe. Consequently, the company specializes within the areas; sales, logistics and customer service.
In 2006 HIFICOMPONENTS.DE re-launches with a new focus on the European market. Due to HIFI COMPONENTS' European-wide professionalism, innovation, and customer satisfaction, the demand for merchandise increases considerably above supply within a very short time. The office space and the staff capacities with multilingual competences increase in order to meet the growing 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. Concerning the sources of supply, HIFI COMPONENTS expands its purchasing scope and simultaneously implements higher quality controls. The expanding retail stores, combined with the click-and-mortar concept, and high quality services build a solid basis for the future growth of HIFI COMPONENTS.
HIFI COMPONENTS recognizes online trading as the channel holding the highest growth potential. Nevertheless, the needs, complexities, and challenges in this industry 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 decisions at the right time.
HIFI COMPONENTS decides to close the online trade section as the 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 are now utilized. More than 500 partners have so far been invited to benefit from HIFI COMPONENTS’ know-how. Partners can now serve their markets independently, and free from additional requirements, without facing the typical market difficulties. Considerations like liquidity, pricing, or stock-keeping are no longer issues.
Due to the swift progression, new business segments are 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 and its complex capital structure is 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 is based on the market leader’s long experience in e-commerce. For this reason, HIFI COMPONENTS GmbH can quickly recognize and meet customer needs. The FMCE Exchange service package is synchronized with customer demands and challenges. This enables an improved positioning in the specific market segment within a short time span.
The year 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 sales increases.
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.
