Douglas puts an end to almost four years in the red. The German retailer dedicated to perfumery and cosmetics has finally managed to get back on the path of growth and has recorded double-digit growth of more than 12%. Douglas had a total turnover of 4091 million euros up to last September, compared to 3,649 million euros in 2022.
After the pandemic blip that lasted through 2021 and 2022, the German company managed to post a net profit of more than €16 million compared to a loss of €313.80 million in 2022.
In a press release issued by the cosmetics, beauty and personal care retailer, the company highlighted that this growth has been driven by strong figures in both the online and brick-and-mortar business. Sander van der Laan, Douglas' chief executive, said these results demonstrate and reinforce the strength of the group and the company's omni-channel strategy. "We are on track to continue on our growth path and reach our target of €5 billion in sales by 2026," he said.
Douglas closed the fourth quarter of 2023 with an increase in sales at the physical point of sale, which gives it momentum and value for some points of its long-term roadmap. Among the company's main objectives is to expand its shop network, particularly in Central Europe and also in Eastern Europe, two regions that have been key for the German cosmetics retailer in recent years. During the 2022/2023 financial year, Douglas opened its first shops in countries such as Slovenia and Belgium.
Last August, some media specialised in economic information explained that the investment fund CVC, owner of Douglas, was studying the possibility of listing the German retailer on the stock market with a valuation that would be close to 7,000 million euros. This proposal seemed to be firm, as the capital fund had hired Rothschild as an advisor to explore the operation with a view to 2024, so we will have to closely follow the next steps of the German chain, which would be willing to start talks with various financial institutions to move forward with this proposal.