Built with the support of AURELIUS since 2016, European Imaging Group has boosted revenues four-fold by enabling a growing number of professionals and enthusiasts to bring their creative visions to life.
Despite the popularisation of photography through increasingly sophisticated smartphones, the market for high-end photographic equipment, made up by professionals and enthusiasts, has continued to flourish. The European Imaging Group (EIG), formed since 2016, caters to that market and has become one of its leading players.
A customer-focused approach and omnichannel presence have helped EIG to become Europe’s leading retailer of photographic and video equipment. With roots stretching back to 1856, the business combines decades of market experience with demand-led innovation to be the retailer of choice for professionals and enthusiasts in the regions it is active in. The Group has been built up under the stewardship of AURELIUS since 2016, combining operational transformation with select acquisitions to create a pan-European leader.
The Group’s foundations were laid by AURELIUS’ acquisition of Calumet in 2016. Wex joined the Group in 2017, Foto-Video Sauter in 2018, CameraNU, Cyfrowe and Sansa in 2022, and Vocas in 2023. Megapixel marks the Group’s most recent acquisition in 2024. Today, EIG serves more than half a million customers from its presence in the United Kingdom, Germany, Poland, Belgium, the Czech Republic and the Netherlands.
This high acquisition cadence has been enabled by the advice and practical support of AURELIUS, whose playbook has allowed EIG management to create its own in-house M&A and Integration Team. The aims of this team are to drive inorganic expansion as well as to support the newly acquired companies with onboarding into the Group and accelerating the realisation of synergies.
A growing and consolidating market
Fuelled by advancements in technology and the growing popularity of content creation, the imaging market is undergoing a resurgence. Today, EIG’s total addressable market in Europe is estimated at an annual revenue volume of EUR 5 billion, with up to 25% comprised of a burgeoning second-hand segment. EIG targets the premium segment of this market, focusing on cameras and lenses priced from EUR 1,500 and EUR 1,000 respectively.
“We remain confident in the premium photo and video market, which has seen consistent growth since our initial investment in 2016. This is fuelled by the increasing demand for high-quality content and new product innovations,” states Sam Nicols, CEO of EIG.
Data attests to the strong potential in EIG’s primary markets of the UK, Germany and the Netherlands, with annual growth projections in high single digits. The Group has also identified real potential to expand further into Europe through strategic acquisitions, consolidating its position in a market evolving from traditional owner-operated photo shops to omni-channel photo video retailers better able to serve today’s generation of customers.
EIG’s USPs
EIG stands out in a competitive landscape by addressing different needs across channels and customer groups, catering to recreational enthusiasts and professionals alike. Its value proposition and customer-centric strategy integrate several strengths:
- Omnichannel excellence: EIG’s strong presence across retail and digital platforms offers seamless access to products and services, with 45 retail stores complemented by award-winning e-commerce platforms attracting over 2.5 million monthly visitors and flexible delivery & pick-up options.
- Product range and expertise: EIG offers over 40,000 items, catering to both new and second-hand markets, with remarkable annual growth in second-hand sales in excess of 20% since 2020. In addition, EIG ramped up its own-brand hub in Poland.
- Customer & sales support: Its expert advisers, comprehensive service offering, and dedicated B2B channel ensure a first-class, bespoke experience.
- Partnerships with leading brands: Collaborations with OEMs enable early access to new products, innovative marketing support, and enhanced availability.
- Commitment to sustainability: EIG has integrated eco-conscious practices, for example by investing in its second-hand business, which today contributes to both profitability and environmental responsibility.
EIG’s ability to combine scale with personalisation differentiates it from broadline retailers such as large electronics chains, pure online players and D2C competitors, many of which lack its depth of offering and level of customer engagement.
The future is bright
EIG’s journey has combined transformation, innovation and acquisitive growth – including the opening or relocation of ten stores in 2024. The Group remains dedicated to creating immersive customer experiences and its investment in proprietary brands highlights its intention to boost its market share. Sales have soared since it became part of AURELIUS’ portfolio in 2016, from EUR 100 million annually at the time of initial investment to more than EUR 430 million in 2023. Its second-hand segment is becoming a significant part of the business and continues to grow rapidly.
The future is just as bright, with EIG set to grow its geographic reach further whilst strengthening its position in key markets. Its omnichannel model makes it highly adaptable to shifting consumer preferences, and it remains focussed on expanding its European presence through acquisitions, with an active M&A pipeline that includes two in advanced stages at the time of writing.
“We identified in EIG’s leadership team a real ambition and capability to create a leader in its space. With plans to eventually operate at least 55 stores and a firm customer-centric focus, the business is on its way to fulfilling its potential,” says Richard Glatzel, Chairman of the Board at EIG and former member of AURELIUS’ Operations Advisory.
This strong track record and ambitious vision make the Group well equipped to continue delivering value for its customers and partners as it grows further.