We are the leading omnichannel premium beauty destination in Europe. Our company was founded more than 200 years ago, and beauty has been deeply rooted in its history and DNA this entire time. With our unique assortment, available online and in our around 1,850 stores, it's our mission to inspire our customers to express their own interpretation of beauty – whatever that might be. As an international beauty group consisting of four brands, to us, ‘variety’ is more than just a word; it is a statement that inspires all that we do, every day.
When it comes to brands, we are the partner of choice thanks to our unique assortment of exclusive labels and our high-performing own brands. Our assortment spans fragrance, color cosmetics, skincare, haircare, accessories and beauty treatments. Offering the best brands, as well as an optimal customer experience, are our priorities.
For more than two centuries, the name DOUGLAS has been associated with more than just beauty and inspiration. We’re an international Beauty Group and an emblem of premium-quality, omnichannel retail.
At the DOUGLAS Group, we make life more beautiful, every day. For us, it’s simple: Being beautiful is all about feeling beautiful. A passion for people and helping them feel beautiful in their own skin is what unites the around 18,000 people who work for the DOUGLAS Group. These are the principles that guide our business.
Düsseldorf, 17 July, 2024 – The DOUGLAS Group, Europe’s number one omnichannel destination for premium beauty, has raised its sales (net) growth forecast for the current financial year from previously around 7% to around 8.5% following sustained positive business development and strong preliminary net sales numbers for the third quarter and first nine months. At the same time, the company is well on its way to deliver the mid-term earnings forecast of an expected adj. EBITDA margin of around 18.5%, after 17.7% in the financial year 22/23. In line with its strategy “Let it Bloom”, the DOUGLAS Group also pushes ahead with its strategic focus on the strongly growing core premium beauty business and is selling its online pharmacy Disapo to MYA Health B.V.
Strong third quarter and first nine months of the financial year
Based on preliminary numbers, the DOUGLAS Group continued its growth trajectory and increased sales (net) by 7.3% in the period from April to June 2024. The growth stems from a strong performance in both channels: while store sales (net) went up 7.2%, E-Com sales (net) grew 7.5%.
In the first nine months (October 2023 – June 2024), Group sales (net) increased by 8.7% to 3.5 billion euros (PY: 3.2 billion euros). This growth was broad-based with store sales (net) rising by 8.2% and E-Com growing even stronger at 9.8%. The performance underscores the Group’s successful omnichannel model.
Sander van der Laan, CEO of the DOUGLAS Group, said: “We have made excellent progress in recent years and months and increased our sales again in the third quarter. We are growing stronger than expected and continue to improve our profitability. This is exactly how we want to continue.”
The full set of financial figures for the third quarter of the financial year will be published on 14 August 2024.
Clear focus on premium beauty – sale of Disapo to MYA Health B.V. in final stages
The due diligence has been successfully completed and the selling agreement for Disapo was signed by MYA Health B.V. on 16 July 2024. The transaction is expected to be closed by the end of July 2024. As a result of the sale of its online pharmacy business, the DOUGLAS Group anticipates improvements in its profitability in the future.
The DOUGLAS Group had initially acquired Disapo in 2022 as part of its former strategy to enter the pharmacy market and converge beauty and health. With its new growth strategy “Let it Bloom – DOUGLAS 2026”, introduced in early 2023, the company has since made the fundamental decision to fully shift the focus on the resilient and strongly growing core premium beauty business across its stationary stores and online shops. As such, the DOUGLAS Group had been evaluating various strategic options for its online pharmacy business, eventually leading to the sale of Disapo to MYA Health.
Disapo currently employs around 90 people. The sale of the company has no effect on employees and operations at this point in time. As a result of the transaction, MYA Health will acquire all shares and activities of Disapo, including inventories, the logistics center near Aachen and all assets and intellectual property.
About Disapo and MYA Health
Online pharmacy Disapo B.V. is headquartered in the Dutch city of Heerlen. Operating from its own logistics center near Aachen, Disapo ships a wide range of over-the-counter (OTC) and prescription pharmaceuticals as well as cosmetics and supplements.
MYA Health, based in Amsterdam, operates a mobile app offering services around prescriptions and prescription medication, which was founded in 2021 by Christian-Alexander Vry and Dr. Daniel Lewinski. MYA Health is backed by a number of investors, including Fiege Logistics. The combination of MYA and Disapo creates an all-in-one digital offering for people who rely on prescription drugs.
The DOUGLAS Group, with its commercial brands DOUGLAS, NOCIBÉ, Parfumdreams and Niche Beauty, is the number one omnichannel premium beauty destination in Europe. The DOUGLAS Group is inspiring customers to live their own kind of beauty by offering a unique assortment online and in around 1,860 stores. With unparalleled size and access to customers, the DOUGLAS Group is the partner of choice for brands and offers a premium range of selective and exclusive brands as well as own corporate brands. The assortment includes fragrances, color cosmetics, skin care, hair care, accessories as well as beauty services. Strengthening its successful omnichannel positioning while consistently developing superior customer experience is at the heart of the DOUGLAS Group strategy “Let it Bloom – DOUGLAS 2026”. The winning business model is underpinned by the Group’s omnichannel proposition, leading brands, and data capabilities. In the financial year 2022/23, the DOUGLAS Group generated sales (net) of 4.1 billion euros and employed around 18,000 people across Europe. The DOUGLAS Group (Douglas AG) is listed at the Frankfurt Stock Exchange.
Peter Wübben
SVP Group Communications & Sustainability
Tel: +49 211 16847 6644
Mail: pr@douglas.de
Stefanie Steiner
Director Investor Relations and M&A
Tel: +49 211 16847 8594
Mail: ir@douglas.de
Vienna, July 1, 2024 - DOUGLAS is reopening its luxury flagship store in the heart of Vienna, in Ernst Wahliss' porcelain department store. After closing in mid-April, the store shines in new splendor after just a few weeks of modernization. From July 1st, Viennese and international customers can expect an extensive and luxurious product portfolio as well as individual services on two floors with a total of 795 square meters.
"Our new store at Kärntner Straße 17, right in the heart of Vienna, is an outstanding example of our strategy," says Veit Weiland, CEO DOUGLAS DACH. "It is a triad of iconic architecture, historic urbanity, luxury and expertise in the space. Vienna is a cultural stronghold, center and contact point for European and international customers who value quality, service, inspiration and exclusive products. Here, our customers can enjoy a luxurious shopping experience tailored to their needs. The strategic optimization of our store network is a key component of the Group-wide omnichannel strategy 'Let it Bloom - DOUGLAS 2026'. The House of Beauty in Vienna not only marks a significant and important milestone in Austria, but also the long-term and sustainable implementation of our strategy within the DOUGLAS Group throughout Europe. One thing is certain for us: the stores are and will remain an important point of contact for our customers."
Tradition meets luxury: the DOUGLAS House of Beauty in Vienna
With its unique porcelain-clad façade in the prestigious historicist style, Kärntner Straße 17 is one of Vienna's most famous addresses. The Viennese House of Beauty extends generously over two floors, in which historicist building elements merge with high-quality materials in a modern color concept of white, black and grey with golden accents to create an exclusive shopping ambience with a feel-good factor. The interior design follows a stringent, aesthetic scheme that combines varied product displays and service points to create an inviting and functional retail concept. The beauty favorite in the bustling city center stages exclusive brands such as Nars, Drunk Elephant and Charlotte Tilbury within appealing theme worlds and offers new, innovative beauty applications.
Product diversity in the DOUGLAS brand worlds
On the first floor of the DOUGLAS store, customers can experience the thematically divided theme, brand and product worlds. From facial care brands to trendy decorative cosmetics brands, the store presents a carefully curated brand mix of innovations, bestsellers and classics. The upper floor is home to a diverse range of luxury and niche fragrances, with highlight brands including XERJOFF, Versace Atelier and Creed. The central element of the extensive range is a world of luxury brands, including Chanel, Armani, Tom Ford, Lancôme and Austria's exclusive brands Charlotte Tilbury, Carolina Herrera, Augustinus Bader and Dr. Barbara Sturm. The classics are complemented by young brands such as Sol de Janeiro, MAC and Kylie Cosmetics.
Comprehensive selection of individually tailored services and beauty suite
DOUGLAS customers can look forward to a professional and individual shopping experience: from waxing and plucking to tinting and brow lifting - eyebrows are skillfully staged at the Benefit Brow Bar. In addition, the service portfolio also offers a professional, free skin analysis for personalized care and product recommendations. The highlight of the versatile store concept is the new Beauty Suite on the second floor: perfectly coordinated skincare treatments from brand partners Sensai, La Prairie, Babor, Dermalogica, Dr. Susanne von Schmiedeberg and La Mer as well as innovative, luxurious facial treatments such as microneedling, microdermabrasion, ultrasound and hydrafacial, as well as manicures and pedicures are offered here. For those who need to get ready quickly, the store offers an after-work make-up service, where customers can be styled for the evening in just 15 minutes.
Grand opening celebration
From competitions, lucky bike raffles and products to test, to photo spots and product consultations - at the grand opening celebration from July 18, Viennese customers can look forward to three days of diverse promotions, offers and special beauty entertainment. There will also be a GHD styling station on an event area directly in front of the store.
With its brands DOUGLAS, NOCIBÉ, parfumdreams and Niche Beauty, the DOUGLAS Group is the leading omnichannel provider of premium beauty in Europe. The DOUGLAS Group inspires its customers to live their own kind of beauty by offering a unique assortment online and in around 1,860 stores. The DOUGLAS Group is the partner of choice for brands and offers a selected range of exclusive brands as well as its own corporate brands. The product range includes fragrances, make-up, skin care, hair care, accessories and beauty services. The corporate strategy "Let it Bloom - DOUGLAS 2026" focuses on strengthening the successful omnichannel positioning and the consistent further development of the customer experience. The successful business model is based on the DOUGLAS Group's omnichannel offering, leading brands and data expertise. In the 2022/23 financial year, the DOUGLAS Group generated sales of 4.1 billion euros and employed around 18,000 people across Europe. The DOUGLAS Group (Douglas AG) is listed on the Frankfurt Stock Exchange.
Yasmin Badaghlou
Corporate Communications Manager
Tel: +49 211 16847 6644
Mail: pr@douglas.de
Düsseldorf, 5 June, 2024 – The DOUGLAS Group, Europe’s number one omnichannel destination for premium beauty, is testing its AI Beauty Advisor Chatbot as the latest innovation in its strategy to elevate the omnichannel customer experience as the company continues to expand its wide AI technology portfolio. Leveraging Google Cloud’s advanced AI technology, the chatbot POC is designed to assist and inspire customers with personalized product recommendations, beauty advice and routine ideas, and gift shopping guidance based on individual preferences and dynamic conversations. During the early testing, the chatbot is available for DOUGLAS Group employees only. Whether it will ultimately be rolled out for customers depends largely on the results of the current test phase.
Pioneering customer experience and operations with AI
The DOUGLAS Group continuously develops and tests new ideas and solutions to elevate the experience for customers – online and offline. In the past, the company has introduced several digital innovations in its stores and apps, including a skin analysis tool allowing customers to determine their skin type, a Fragrance Finder helping users to discover the perfect perfume, and the Beauty Mirror which utilizes augmented reality to enable customers to virtually test various cosmetics.
Beyond these frontend tools, the Group also further leverages AI across large parts of its organization such as pricing, demand forecasting & replenishment as well as marketing, e.g. by utilizing generative AI to accelerate the creation of text and images and to optimize budget allocation.
Integration of beauty profile for personalized shopping advice
The new AI Beauty Advisor Chatbot POC is the latest example of the Group’s commitment to innovation. It leverages Google Cloud’s advanced technology to navigate the DOUGLAS Group’s extensive online product assortment. By understanding and predicting customer preferences, the chatbot enhances the shopping experience, making it more intuitive, enjoyable, and efficient. The chatbot is designed to, when logged in, integrate the data of a customer’s beauty profile – such as product preferences and information from the skin type analysis – to deliver a highly personalized experience.
For example, if asked, “Can you recommend a moisturizing serum suited for dry skin?”, the chatbot can provide specific and customized product recommendations from the wide range of DOUGLAS Group products, taking into account product data like ingredients, brands, price, and personal preferences.
AI to transform interaction between customers and brands
Philipp Andrée, Chief Commercial Officer of the DOUGLAS Group, said: “Our collaboration with Google Cloud and the early testing of an AI Beauty Advisor Chatbot are a testament to our commitment to innovation and always staying on the cutting edge to improve the customer experience. In today's fast-paced world, customers seek hyper-personalized shopping and inspiration, and with innovations such as an AI Beauty Advisor Chatbot we are always working towards meeting these needs. Collaborating with Google Cloud, a leader in AI technology, allows us to leverage their expertise to constantly experiment with new services and offerings for an unparalleled omnichannel beauty shopping experience.”
Bernd Wagner, Managing Director of Google Cloud, Germany, said: “Our collaboration with the DOUGLAS Group marks a significant step in bringing advanced AI solutions to the retail industry. The AI Beauty Advisor Chatbot, developed in collaboration with Google Cloud, showcases the potential of technology to transform the way consumers interact with brands and products - factors critical to a company’s future success."
Currently in early testing, the chatbot is being fine-tuned based on internal feedback to ensure it meets the highest standards of performance and reliability prior to a potential rollout for customers.
The DOUGLAS Group, with its commercial brands DOUGLAS, NOCIBÉ, Parfumdreams and Niche Beauty, is the number one omnichannel premium beauty destination in Europe. The DOUGLAS Group is inspiring customers to live their own kind of beauty by offering a unique assortment online and in around 1,860 stores. With unparalleled size and access to customers, the DOUGLAS Group is the partner of choice for brands and offers a premium range of selective and exclusive brands as well as own corporate brands. The assortment includes fragrances, color cosmetics, skin care, hair care, accessories as well as beauty services. Strengthening its successful omnichannel positioning while consistently developing superior customer experience is at the heart of the DOUGLAS Group strategy “Let it Bloom – DOUGLAS 2026”. The winning business model is underpinned by the Group’s omnichannel proposition, leading brands, and data capabilities. In the financial year 2022/23, the DOUGLAS Group generated sales (net) of 4.1 billion euros and employed around 18,000 people across Europe.
Katharina Lessenich
CvD Group Communications
Tel: +49 211 16847 6644
Mail: pr@douglas.de
Düsseldorf, 29 May, 2024 – The DOUGLAS Group, Europe’s number one omnichannel destination for premium beauty, continued to grow profitably in the second quarter of the financial year 2023/24 (January – March 2024) and accelerated its trajectory with double-digit offline and online growth.
Confirming preliminary numbers published 15 April 2024, the DOUGLAS Group grew overall sales (net) by 11.5% to around 958 million euros (Q2 2022/23: nearly 860 million euros). Both stores and E-Com developed well: Store sales (net) increased by 11.9% (lfl: +10.8%) and E-Com sales (net) by 10.7% (lfl: +10.4%). Keeping their growth momentum, Group sales have now increased for eleven consecutive quarters.
Sander van der Laan, CEO of the DOUGLAS Group, said: “We have confirmed our trend and market position with a strong second quarter and good performance in all our segments. Our omnichannel model continues to drive our growth while we kept costs under control and thus further improved our profitability. Beyond that, our recent refinancing greatly expanded our financial flexibility. All of this puts us in an excellent spot to meet our annual and mid-term guidance.”
In the second quarter of the financial year 2023/24, the DOUGLAS Group continued to improve its profitability and generated an adj. EBITDA of 145.9 million euros (Q2 2022/23: 125.5 million euros), a rise of 16.2% compared to the previous year. This corresponds to an adj. EBITDA margin of 15.2%, an increase of 0.6 percentage points year-on-year. All segments contributed to overall sales (net) and adj. EBITDA growth. Net income from January to March came in at ‑41.3 million euros (Q2 2022/23: -42.2 million euros) and was affected by a number of non-recurring effects, including expenses in connection with the DOUGLAS Group’s IPO at the Frankfurt Stock Exchange in March 2024 and a positive one-off effect in the financial result due to the valuation of bonds and related assets.
Strong momentum in first six months of the financial year
From October 2023 to March 2024, the DOUGLAS Group achieved net sales of around 2.5 billion euros (+9.3%) and generated an adj. EBITDA of 494.2 million euros, a considerable increase of 13.6% compared to the same period in the financial year 2022/2023. On a half-year basis, store sales (net) increased by 8.6% (lfl: +7.7%) and E-Com sales (net) by 10.7% (lfl: +10.5%), demonstrating the resilience of the omnichannel model and sustained customer demand both offline and online. Net income in the first six months was at 83.9 million euros (H1 2022/23: 71.0 million euros), up 18.1% year-on-year. In addition to the IPO costs, mainly incurred in the second quarter, the half-year was affected by non-recurring effects in the financial result. Free cash flow amounted to 363.4 million euros compared to 237.8 million euros in the previous year.
In April 2024, following its listing on the Frankfurt Stock Exchange, the DOUGLAS Group completed a comprehensive refinancing and reduced its net debt by around 1.3 billion euros through the primary proceeds from the IPO, an equity injection by CVC and the Kreke family as well as available liquidity. The new financing comes with improved conditions leading to an expected reduction of yearly interest expenses of up to 100 million euros. The leverage ratio has decreased significantly within a year from 5.0x per 31.03.2023 to 2.7x as of 31.03.2024. The company remains committed to further deleveraging and accordingly expects a positive impact on the future net income.
“Let it Bloom – DOUGLAS 2026” implementation well on track
The strong development in recent quarters has been visibly supported by the ongoing implementation of "Let it Bloom". The DOUGLAS Group has recently taken further strategic decisions and passed several key milestones which it expects to drive the positive momentum:
DOUGLAS Group confirms outlook for financial year 2023/24
The DOUGLAS Group forecasts sales (net) to increase by around 7% in the financial year 2023/24 and also mid-term, driven by both channels with an anticipated increase of store sales (net) in the mid-single-digit range and an anticipated increase of E-Com sales (net) in the high-single-digit range. EBITDA is developing positively, in line with the target to develop to an adj. EBITDA margin of around 18.5%. With the results achieved in the first half of the financial year 2023/24, the DOUGLAS Group is well positioned to deliver on this guidance and achieve both this year’s targets as well as the mid-term expectations.
Overview Financial Results
Q2 FY 2023/24 | Q2 2022/23 | Q2 2023/24 | Change | Change |
Sales (net) | €859.7m | €958.4m | +11.5% | +10.7% |
Stores | €560.1m | €626.9m | +11.9% | +10.8% |
E-Commerce | €299.6m | €331.5m | +10.7% | +10.4% |
E-Commerce % of sales (net) | 34.9% | 34.6% | -0.3ppts |
|
Segment DACHNL | €399.8m | €459.4m | +14.9% | +14.9% |
Segment France | €161.0m | €168.5m | +4.6% | +4.1% |
Segment Southern Europe | €133.9m | €141.9m | +5.9% | +6.1% |
Segment CEE | €113.3m | €136.2m | +20.2% | +17.8% |
Segment PD/NB | €36.5m | €43.7m | +19.8% | +20.4% |
Adjusted EBITDA | €125.5m | €145.9m | +16.2% |
|
Net Income | -€42.2m | -€41.3m | +2.0% |
|
H1 FY 2023/24 | H1 2022/23 | H1 2023/24 | Change | Change |
Sales (net) | €2,300.3m | €2,514.0m | +9.3% | +8.7% |
Stores | €1,536.8m | €1,668.8m | +8,6% | +7.7% |
E-Commerce | €763.5m | €845.2m | +10.7% | +10.5% |
E-Commerce % of sales (net) | 33.2% | 33.6% | +0.4ppts |
|
Segment DACHNL | €1,038.3m | €1,147.4m | +10.5% | +10.2% |
Segment France | €486.1m | €503.8m | +3.6% | +3.3% |
Segment Southern Europe | €356.1m | €376.1m | +5.6% | +5.3% |
Segment CEE | €304.1m | €361.8m | +19.0% | +16.3% |
Segment PD/NB | €86.6m | €106.9m | +23.4% | +23.9% |
Adjusted EBITDA | €435.0m | €494.2m | +13.6% |
|
Liquidity (31 March)* | €238.2m | €818.6m | +243.7% |
|
Net Income | €71.0m | €83.9m | +18.1% |
|
* As of 31 March 2024, only parts of the IPO proceeds as well as the equity injection have been used to repay financial debt. The full refinancing became effective on 15 April 2024.
Segment Overview: DACHNL (Austria, Belgium, Germany, Switzerland, The Netherlands), France (France, Monaco), Southern Europe (Andorra, Croatia, Italy, Portugal, Slovenia, Spain), Central Eastern Europe / CEE (Bulgaria, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, Slovakia), PD/NB (Parfumdreams, Niche Beauty)
The DOUGLAS Group, with its commercial brands DOUGLAS, NOCIBÉ, Parfumdreams and Niche Beauty, is the number one omnichannel premium beauty destination in Europe. The DOUGLAS Group is inspiring customers to live their own kind of beauty by offering a unique assortment online and in around 1,860 stores. With unparalleled size and access to customers, the DOUGLAS Group is the partner of choice for brands and offers a premium range of selective and exclusive brands as well as own corporate brands. The assortment includes fragrances, color cosmetics, skin care, hair care, accessories as well as beauty services. Strengthening its successful omnichannel positioning while consistently developing superior customer experience is at the heart of the DOUGLAS Group strategy “Let it Bloom – DOUGLAS 2026”. The winning business model is underpinned by the Group’s omnichannel proposition, leading brands, and data capabilities. In the financial year 2022/23, the DOUGLAS Group generated sales (net) of 4.1 billion euros and employed around 18,000 people across Europe. The DOUGLAS Group (Douglas AG) is listed at the Frankfurt Stock Exchange.
Peter Wübben
SVP Group Communications & Sustainability
Tel: +49 211 16847 6644
Mail: pr@douglas.de
Stefanie Steiner
Director Investor Relations and M&A
Tel: +49 211 16847 8594
Mail: ir@douglas.de
Warsaw, April 26, 2024 – The DOUGLAS Group, Europe’s number one omnichannel destination for premium beauty, continues to expand its store network across Europe and has opened its 150th DOUGLAS store in Poland today. The new store in the Old Town Gallery in Leszno presents a completely new dimension of shopping and brings the offline and online world together. With this step, the DOUGLAS Group further pursues its expansion strategy in the Central and Eastern Europe (CEE) region, focusing on growth in major metropolitan areas as well as in smaller cities.
Since entering the Polish market more than 23 years ago, the company has been constantly strengthening its presence, both by opening new stores as well as by modernizing existing stores. In the current financial year, DOUGLAS has already opened 6 new stores in Poland and refurbished 5 existing stores.
"The beauty market is very dynamic and driven by evolving consumer trends. We want to always be close to our customers and respond directly to their needs. With the new store in the Old Town Gallery in Leszno, we are offering our customers a unique premium beauty shopping experience right in the heart of the Old Town. Stores are an essential part of our omnichannel strategy, and the opening of the 150th store in Poland marks yet another milestone in achieving our long-term goals”, says Agnieszka Mosurek-Zava, CEO of DOUGLAS Polska.
Unique shopping experience and customized services
The new store in the Old Town Gallery in Leszno has a sales area of 196 square meters and is the second store in the city of Leszno. It offers customers a variety of different products and beauty services, such as free advanced consultations tailored to individual needs in selecting the right products in skincare, makeup and fragrances, as well as exclusive spa rooms and modern mobile treatment booths. The assortment comprises more than 4,000 products and nearly 80 brands, including global and premium brands such as Dr. Susanne von Schmiedeberg, Sol de Janeiro, Yves Saint Laurent, Estée Lauder and Sensai. Customers will also be able to enjoy free advanced skin condition consultations with professional diagnostic equipment or a free 15-minute makeup treatment.
Bringing together offline and online
As part of its growth strategy “Let it Bloom”, the DOUGLAS Group is constantly developing its product offering, with already nearly 1,500 brands in its portfolio. In line with its omnichannel strategy, the new store in Leszno provides a consistent customer experience that brings offline and online shopping seamlessly together: For example, customers can place orders via the click & collect service and can also order products online with the assistance of the in-store beauty advisors – either to their home or for free to a DOUGLAS store.
The DOUGLAS Group, with its commercial brands DOUGLAS, NOCIBÉ, Parfumdreams and Niche Beauty, is the number one omnichannel premium beauty destination in Europe. The DOUGLAS Group is inspiring customers to live their own kind of beauty by offering a unique assortment online and in around 1,850 stores. With unparalleled size and access to customers, the DOUGLAS Group is the partner of choice for brands and offers a premium range of selective and exclusive brands as well as own corporate brands. The assortment includes fragrances, color cosmetics, skin care, hair care, accessories as well as beauty services. Strengthening its successful omnichannel positioning while consistently developing superior customer experience is at the heart of the DOUGLAS Group strategy “Let it Bloom – DOUGLAS 2026”. The winning business model is underpinned by the Group’s omnichannel proposition, leading brands, and data capabilities. In the financial year 2022/23, the DOUGLAS Group generated sales (net) of 4.1 billion euros and employed around 18,000 people across Europe.
Yasmin Badaghlou
Corporate Communications Manager
Tel: +49 211 16847 6644
Mail: pr@douglas.de
THIS ANNOUNCEMENT IS FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSTITUTE OR FORM PART OF ANY OFFER OR INVITATION TO SELL OR ISSUE, OR ANY SOLICITATION OF AN OFFER TO PURCHASE OR SUBSCRIBE FOR, ANY SECURITIES OF DOUGLAS AG, KIRK BEAUTY SUN GMBH OR DOUGLAS SERVICE GMBH.
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Düsseldorf, 15 April 2024 – The DOUGLAS Group, Europe’s number one omnichannel premium beauty destination, has paved the way for the future with a comprehensive refinancing. Following its listing on the Frankfurt Stock Exchange at the end of March, the company had already used the proceeds and a capital injection to partially prepay an existing facilities agreement in the amount of 675 million euros (nominal). In a second step, with today’s drawing of 1.3 billion euros under the new financing of in total 1.6 billion euros, the Group now redeemed the remaining existing financial indebtedness. As a result of the refinancing, the leverage ratio decreased significantly from previously 4.0x to approx. 2.7x.
The new financing reduces the interest rate from around 8% to a range of 5.5% to 6.5%. As a result, annual interest payments are expected to be reduced by up to 100 million euros.
“With this important step, we have established a strong financial foundation for the coming years,” said Mark Langer, CFO of the DOUGLAS Group. “At the same time, we are in a position to make investments from our cashflow into our successful business model and future growth. It is our firm goal to further reduce our debt and to start paying dividends in the medium term. This is what we are consistently working towards.”
New financing of 1.6 billion euros
The new financing includes a term loan facility of 800 million euros (interest rate: EURIBOR + 2.75% initial margin) with a term of five years and a bridge facility of 450 million euros (interest rate: EURIBOR + 2.25% initial margin) with a term of twelve months, which can be extended twice by six months each without further approval of the banks. The DOUGLAS Group has further secured a revolving credit facility (RCF) of 350 million euros, of which 50 million euros had been drawn today. With today’s refinancing, the company fully redeemed senior secured notes in a nominal amount of 1.305 billion euros and senior unsecured notes in a nominal amount of approx. 567 million euros and continues its path towards debt reduction: After 4.7x per 30.09.2023 and 4.0x per 31.12.2023, the leverage ratio is now at approx. 2.7x (calculated on adjusted EBITDA (LTM) and liquidity as of 31.12.2023).
The new financing was signed on 8 March 2024 and also includes a so-called “ESG Rendezvous-Clause” which allows to directly link the interest margin to specific sustainability KPIs. These will be defined between the syndicate banks and the DOUGLAS Group. The bank consortium consists of 15 banks, with UniCredit Bank GmbH acting as documentation agent.
Sales growth trend accelerated in the second quarter
The DOUGLAS Group accelerated its growth trajectory in the recently completed second quarter of the financial year 2023/24. Group sales (net) increased by 11.5% based on preliminary and unaudited figures. Total growth was backed by strong development in all areas and consistent performance of the omnichannel business model. While store sales improved by 12.0%, E‑Commerce sales also rose double-digit by 10.7%. All segments contributed positively to the overall sales increase and continued to grow vs. prior year in the first half of the financial year.
Sander van der Laan, CEO of the DOUGLAS Group, said: “After a very good start to the financial year during the Christmas period, we have followed up with another excellent quarter: The results for the first three months of the 2024 calendar year are an impressive demonstration of the attractiveness of our offering, our exceptional customer loyalty and the resilience of our omnichannel model. This also marks eleven consecutive quarters of total sales growth – a clear sign that we’re on the right track.”
The full financial figures for the second quarter and first half of the financial year will be published on 29 May 2024.
1 Leverage = net debt / adjusted EBITDA for the twelve-month period ended as of the reporting date
Cautionary Statement
This announcement does not contain or constitute an offer of, or the solicitation of an offer to buy or subscribe for, securities to any person in the United States, Australia, Canada, South Africa, Japan or in any jurisdiction to whom or in which such offer or solicitation is unlawful.
Neither this announcement nor the publication in which it is contained is for publication or distribution, directly or indirectly, in whole or in part, in or into the United States of America, including its territories and possessions, any state of the United States and the District of Columbia (the “United States”). The information in this announcement does not contain or constitute an offer to acquire, subscribe or otherwise trade in securities in DOUGLAS AG, Kirk Beauty SUN GmbH or Douglas GmbH in any jurisdiction. Any securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), or the securities laws of any state or other jurisdiction of the United States, and may not be offered, subscribed, used, pledged, sold, resold, allotted, delivered or otherwise transferred, directly or indirectly, in or into the United States absent such registration, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements under the Securities Act, in each case in compliance with any applicable securities laws of any state or other jurisdiction of the United States. There will be no public offer of the securities in the United States.
In member states of the European Economic Area (other than Germany), this announcement is only addressed to and directed at persons who are “qualified investors” within the meaning of Article 2(e) of the Prospectus Regulation.
In the United Kingdom, this announcement is only addressed to and directed at persons who are “qualified investors” within the meaning of Article 2 of the Prospectus Regulation (Regulation (EU) 2017/1129 and amendments thereto) as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018 and who (i) have professional experience in matters relating to investments falling within article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “Order”) or (ii) are high net worth entities falling within article 49(2)(a) to (d) of the Order (all such persons being referred to as “relevant persons”). In the United Kingdom, this announcement is directed only at relevant persons. Any person who is not a relevant person should not act or rely on this announcement or any of its contents. Any investment or investment activity to which this announcement relates is available only to relevant persons and will be engaged in only with relevant persons and it should not be relied on by anyone other than a relevant person.
This announcement may contain forward-looking statements. These forward looking statements can be identified by the use of forward looking terminology, including words such as “intend”, “expect”, “anticipate”, “may”, “believe”, “plan”, “estimate”, “will” and other expressions which imply indications or predictions of future development or trends, and which are not based on historical facts. Forward-looking statements inherently involve both known and unknown risks and uncertainties as they depend on future events and circumstances. Forward-looking statements do not guarantee future results or developments and the actual outcome could differ materially from the forward-looking statements.
The DOUGLAS Group, with its commercial brands DOUGLAS, NOCIBÉ, Parfumdreams and Niche Beauty, is the number one omnichannel premium beauty destination in Europe. The DOUGLAS Group is inspiring customers to live their own kind of beauty by offering a unique assortment online and in around 1,850 stores. With unparalleled size and access to customers, the DOUGLAS Group is the partner of choice for brands and offers a premium range of selective and exclusive brands as well as own corporate brands. The assortment includes fragrances, color cosmetics, skin care, hair care, accessories as well as beauty services. Strengthening its successful omnichannel positioning while consistently developing superior customer experience is at the heart of the DOUGLAS Group strategy “Let it Bloom – DOUGLAS 2026”. The winning business model is underpinned by the Group’s omnichannel proposition, leading brands, and data capabilities. In the financial year 2022/23, the DOUGLAS Group generated sales (net) of 4.1 billion euros and employed around 18,000 people across Europe.
Peter Wübben
SVP Group Communications & Sustainability
Tel: +49 211 16847 6644
Mail: pr@douglas.de
Stefanie Steiner
Director Investor Relations and M&A
Tel: +49 211 16847 8594
Mail: ir@douglas.de
Düsseldorf, 22 March 2024 – The DOUGLAS Group, Europe’s number one omnichannel premium beauty destination1, today announced changes to its Supervisory Board. Following the successful IPO, two new Supervisory Board members, Pamela Knapp and Georgia Garinois-Melenikiotou, have been appointed with effect from March 21, 2024. The two succeed Michael Hinderer and Fritz Schulenburg, who stepped down from the Supervisory Board as planned with the IPO.
Dr Henning Kreke, Chairman of the Supervisory Board of DOUGLAS Group, said: “We are very pleased to welcome Pamela Knapp and Georgia Garinois-Melenikiotou as new members of the DOUGLAS Group's Supervisory Board. Both have many years of experience in leading roles and mandates for well-known international companies and will contribute their expertise to the DOUGLAS Group as a newly listed company. At the same time, on behalf of the Supervisory Board and the Management Board, I would like to thank Michael Hinderer and Fritz Schulenburg for their excellent and dedicated work. We wish them the very best for the future.”
Pamela Knapp is an experienced non-executive board member of different European companies and audit committee chair. Further, she is a commissioner on the Monopolies Commission, an independent expert committee advising the German government on competition policy, law, and regulation. Pamela Knapp is also a member of the board of directors of Dutch Signify N.V., a member of the Supervisory Board of German Lanxess AG and a member of the board of directors of French Compagnie de Saint-Gobain S.A. Previous stations further include senior leadership roles at Siemens AG and market research company GfK SE.
With many years of experience in the field of leading global consumer goods businesses and beauty brands, Georgia Garinois-Melenikiotou has been a non-executive member of the board of directors of the listed Brazilian cosmetics corporation Natura & Co Holdings S.A. since 2021. Georgia Garinois-Melenikiotou has also been a non-executive board member of the listed U.S. medical technology companies, Pulmonx Corporation and Inspire Medical Systems, Inc. She has also been a member of the MIT Sloan board since 2012 and an advisor to the AI technology and ethics committee at MIT. Previously, she held senior leadership roles for Johnson & Johnson in seven countries and with Estée Lauder Companies in the US.
The Supervisory Board of the DOUGLAS Group continues to have twelve members and now consists of Dr Henning Kreke (Chairman), Ulrike Grabe (Vice-Chairperson), Dr Alexander Dibelius, Dr Daniel Pindur, Can Toygar, Pamela Knapp, Georgia Garinois-Melenikiotou, Peter König, Petra Ringer, Ulrike Gaal, Stefanie Hübner and Vesna Mandalenakes.
1 Based on the DOUGLAS Group’s position across its five largest countries Germany, France, Italy, The Netherlands, and Poland taken together. Source: OC&C analysis (2023)
The DOUGLAS Group, with its commercial brands DOUGLAS, NOCIBÉ, Parfumdreams and Niche Beauty, is the number one omnichannel premium beauty destination in Europe. The DOUGLAS Group is inspiring customers to live their own kind of beauty by offering a unique assortment online and in around 1,850 stores. With unparalleled size and access to customers, the DOUGLAS Group is the partner of choice for brands and offers a premium range of selective and exclusive brands as well as own corporate brands. The assortment includes fragrances, color cosmetics, skin care, hair care, accessories as well as beauty services. Strengthening its successful omnichannel positioning while consistently developing superior customer experience is at the heart of the DOUGLAS Group strategy “Let it Bloom – DOUGLAS 2026”. The winning business model is underpinned by the Group’s omnichannel proposition, leading brands, and data capabilities. In the financial year 2022/23, the DOUGLAS Group generated sales (net) of 4.1 billion euros and employed around 18,000 people across Europe.
Peter Wübben
SVP Group Communications & Sustainability
Tel: +49 211 16847 6644
Mail: pr@douglas.de
Group sales (net) increased by 8.0% (reported) to around 1.56 billion euros (like-for-like, “lfl”: +7.5%) with continued omnichannel growth: store sales (net) up 6.7%, E-Com sales (net) up 10.7%
Profitability significantly increased: Adjusted EBITDA increased by 12.6% to 348.3 million euros with a higher adj. EBITDA margin of 22.4% (previous year: 21.5%); net income grew to 125.2 million euros (+10.6%, previous year: 113.2 million euros)
Free cash flow of 459.4 million euros (previous year: 402.3 million euros)
Net leverage ratio significantly improved to 4.0x (30 Sep. 2023: 4.7x)
Sander van der Laan, CEO DOUGLAS Group: “We had a very successful first quarter with strong results in both channels and grow profitably and organically.”
Düsseldorf, 15 February 2024 – The DOUGLAS Group, Europe's leading omnichannel destination for premium beauty, continued its profitable growth trajectory in the first quarter of its financial year 2023/24. Based on unaudited numbers, Group sales (net) increased by 8.0% to around 1.56 billion euros in the important period from October to December 2023 (Q1 2022/23: 1.44 billion euros). Actual Group sales (net) are slightly below the previous communicated +8.3% due to the discontinuation of the Spain restructuring adjustments and minor consolidation effects. Growth was driven by strong results of both channels: Store sales (net) increased by 6.7% (lfl: +6.0%) while E-Com sales (net) grew 10.7% year-on-year (lfl: +10.7%), both thus continuing the positive trend from previous quarters. This also marks the tenth consecutive quarter of Group sales (net) growth. All segments contributed positively to overall growth for both sales and earnings.
“The months from October to December are the most important sales period of the year for us”, said Sander van der Laan, CEO DOUGLAS Group. “The team has pulled off a strong start to our financial year: We are growing both top and bottom line, across all channels and regions compared to the previous year while also significantly improving our profitability. We clearly see our ‘Let it Bloom’ strategy bearing fruit. The results are well in line with our midterm guidance of a compound annual sales (net) growth rate of around 7% and encourage us to press ahead with our strategic initiatives.”
Further increased profitability and net income
Beyond the continued total sales (net) growth, the DOUGLAS Group also further increased its profitability and generated an adj. EBITDA of 348.3 million euros (Q1 2022/23: 309.4 million euros), an improvement of 12.6%. The corresponding adj. EBITDA margin was 22.4%, another step up compared to the 21.5% of the previous year.
Net income in the first quarter improved by 10.6% to 125.2 million euros (Q1 2022/23: 113.2 million euros). Free cash flow increased to 459.4 million euros. In the previous year, this figure amounted to 402.3 million euros, taking into account the money market instruments reported as current other financial assets. Accordingly, the DOUGLAS Group's net leverage ratio as of the reporting date (31 Dec. 2023) significantly improved further to 4.0x (30 Sep. 2023: 4.7x)1.
Strong E-Commerce momentum
The E-Com business recorded a particularly strong performance with an impressive double-digit sales (net) growth of 10.7%, resulting in the sixth consecutive quarter of E-Com growth. The online pure player segment Parfumdreams/Niche Beauty contributed with a strong increase in sales (net) of 26.0% compared to previous year’s quarter.
Overall E-Com growth in the first quarter, which includes important customer events like Singles’ Day, Beauty (Black) Friday, and Christmas, was driven in particular by a strong performance of the segments DACHNL (+11.6%), CEE (+20.2%), and the online beauty pure players Parfumdreams/Niche Beauty.
In line with the high E-Com demand, the DOUGLAS online shops received more than 20,000 delivery orders per hour across Europe at peak times during Black Friday. Bestsellers in the first quarter included Advent calendars, premium fragrances, and gift sets with fragrance or body care products.
Expansion and refurbishment of store network
As part of the “Let it Bloom – DOUGLAS 2026” strategy, the DOUGLAS Group has launched a program to develop and expand its store network until the end of the financial year 2025/26. The DOUGLAS Group plans to open (net) more than 200 stores across Europe and more than 400 stores are set to be upgraded or refurbished. With this strategic initiative, the DOUGLAS Group aims to offer customers an even more appealing and contemporary shopping experience. The first quarter of the current financial year already saw a notable number of net 17 store openings.
Updated sustainability strategy with ambitious goals
The DOUGLAS Group has recently published its Sustainability Report for the financial year 2022/23, following the ambition to also be a leading beauty retailer in sustainability. The report includes an updated, more ambitious sustainability strategy in line with the overarching “Let it Bloom” strategy, thus expanding the previous approach of the 2020/21 financial year. The DOUGLAS Group’s sustainability strategy is based on three focus areas: People, Planet, and Products.
Overview Financial Results
Q1 FY 2023/24 | Q1 2022/23 | Q1 2023/24 | Change | Change |
Sales (net)* | €1,440.6m | €1,555.5m | +8.0% | +7.5% |
Stores* | €976.7m | €1,041.9m | +6.7% | +6.0% |
E-Commerce | €463.9m | €513.6m | +10.7% | +10.7% |
E-Commerce % of sales (net) | 32.2% | 33.0% | +0.8ppt |
|
Segment DACHNL | €638.5m | €688.0m | +7.8% | +7.2% |
Segment France | €325.1m | €335.3m | +3.1% | +2.8% |
Segment Southern Europe | €222.2m | €234.2m | +5.4% | +5.1% |
Segment CEE** | €190.8m | €225.6m | +18.3% | +15.8% |
Segment Parfumdreams/Niche Beauty | €50.1m | €63.2m | +26.0% | +26.4% |
Adjusted EBITDA | €309.4m | €348.3m | +12.6% |
|
Net Income | €113.2m | €125.2m | +10.6% |
|
* As the restructuring in Spain has been successfully completed, the DOUGLAS Group will cease adjusting sales (net) going forward and inform on a reported basis.
** CEE = Central Eastern Europe (Bulgaria, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, Slovakia)
1 Net financial debt position of €3.063m and LTM EBITDA of €765m.
The DOUGLAS Group, with its commercial brands DOUGLAS, NOCIBÉ, parfumdreams and Niche Beauty, is the number one omnichannel premium beauty destination in Europe. The DOUGLAS Group is inspiring customers to live their own kind of beauty by offering a unique assortment online and in around 1,850 stores. With unparalleled size and access to customers, the DOUGLAS Group is the partner of choice for brands and offers a premium range of selective and exclusive brands as well as own corporate brands. The assortment includes fragrances, color cosmetics, skin care, hair care, accessories as well as beauty services. Strengthening its successful omnichannel positioning while consistently developing superior customer experience is at the heart of the DOUGLAS Group strategy “Let it Bloom – DOUGLAS 2026”. The winning business model is underpinned by the Group’s omnichannel proposition, leading brands, and data capabilities. In the financial year 2022/23, the DOUGLAS Group generated sales (net) of 4.1 billion euros and employed around 18,000 people across Europe.
Peter Wübben
SVP Group Communications & Sustainability
Tel: +49 211 16847 664
Mail: pr@douglas.de