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Düsseldorf, 15 May, 2025 – The DOUGLAS Group, Europe’s number one omnichannel premium beauty retailer, completed the second quarter of the financial year 2024/25 with a slight decline in sales while at the same time significantly improving its net income. Rising global economic and political uncertainties increasingly impacted the premium beauty sector since the beginning of the year, resulting in lower footfall and fewer online visits. Like many other market players, the DOUGLAS Group was also affected by this development.
Sander van der Laan, CEO of the DOUGLAS Group, said: “We have responded decisively to the slowdown in consumer traffic and demand for premium beauty by initiating several stabilization measures, reviewing our expenditures and capex allocation. Undeterred by the market situation, we remain fully convinced of the strengths of our omnichannel business model, our unparalleled offering and unique brand as well as our passionate team. As the leading premium beauty retailer in Europe, we are strongly positioned in both the store business and online. We expect the global economic landscape and thus the premium beauty market to recover in the medium-term. And we are well prepared to seize the opportunities that will then arise.”
Q2 marked by outside factors – Central Eastern Europe sales continue to grow strongly
As a result of the increasing market weakness and customer uncertainty, Group sales in the second quarter decreased by 2.0% to 939.0 million euros (lfl: -2.5%). Group sales excluding the sold-off online pharmacy Disapo decreased by 1.0%. Quarterly performance was also influenced by one less day of trading due to the leap year 2024 (29 February 2024) and the calendar shift of Easter into Q3. Indeed, sales in April 2025 were above previous year’s figures.
Impacted by several external factors, sales from January to March developed differently across segments and channels. Central Eastern Europe continued to grow strongly with an increase of 7.6%. While sales in Southern Europe (+0.4%) remained largely flat, weakened consumer sentiment was prominent in DACHNL (-3.7%), France (-2.5%) and at Parfumdreams / Niche Beauty (-0.7%).
Store sales remained flat at -0.1% (lfl: -2.4%), supported by the expansion of the network with a high number of openings in the last twelve months. Store sales in DACHNL and France decreased 2.8% and 2.0% compared to the prior year period. Central Eastern Europe (+5.5%) and Southern Europe (+1.6%) continued to grow, yet at a slower pace. E-Com sales declined by 5.6% and by 2.6% excluding Disapo. In Central Eastern Europe, online sales continued to expand and grew 14.6%. The Group’s online business accounted for around a third of sales in the second quarter.
Improved net income and continued cost discipline
The DOUGLAS Group retained a relatively healthy level of profitability in the second quarter of 2024/25. Reported EBITDA improved by 14.5% to 122.0 million euros, corresponding to an increased margin of 13.0% (PY: 11.1%). Year-on-year growth was driven by significantly lower adjustments. Adj. EBITDA came in at 122.4 million euros, resulting in a margin of 13.0% (PY: 15.2%).
Net income improved significantly by 54.0% to -19.0 million euros (PY: -41.3 million euros), mainly due to a substantially lower negative financial result as a result of the IPO proceeds and successful refinancing in 2024. Net leverage stood at 2.8x as of 31 March 2025 (31 March 2024: 2.7x), impacted by lease investments relating to store openings, contract renewals and supply chain operations. At the same time, net financial debt was down around 96 million euros. Average LTM Net Working Capital (NWC) as a percentage of Group sales improved 0.2ppts. to 5.3% (Q2 2023/24 LTM: 5.5%).
Robust half-year performance
In the first half of the financial year (October 2024 to March 2025), the DOUGLAS Group generated sales of around 2.59 billion euros – an increase of 2.8% (lfl: +2.4%). Group sales excluding Disapo rose 3.7%. Reported EBITDA grew 11.1% to 472.1 million euros. Adj. EBITDA amounted to 475.9 million euros, a decrease of 3.7%. Store sales grew 3.5% (lfl: +1.4%), while E-Com sales increased 1.5% (E-Com excluding Disapo: +4.0%). Net income rose sharply to 144.0 million euros, an improvement of 71.7%, mainly driven by higher sales, lower operating expenses, and a significantly improved financial result. Free cash flow came in at 308.0 million euros (PY: 363.4 million euros).
Stabilization measures take effect
Following the slowdown in the premium beauty market, the DOUGLAS Group already launched several countermeasures to drive sales, stabilize its gross margin and safeguard profitability, including SG&A (sales, general and administrative) cost reductions and tightening of NWC.
Continued investments in “Let it Bloom” strategy
The DOUGLAS Group continues to develop its store network and is making good progress in its ambition to open around 200 new stores by the end of the calendar year 2026 and refurbish around 400 existing ones. It has opened 9 new own stores between January and March 2025. 28 existing own stores were refurbished (including relocations). 11 stores were closed in the same period. In the first six months of the financial year, the DOUGLAS Group has opened 17 new stores (net) in total.
The Group also continues to implement sustainability in its store network and has initiated a broad rollout of Green Lease agreements – distinct contracts between landlord and tenant which include a specific legal clause that aims for more environmentally friendly real estate use through mutual sharing of responsibility. Agreements have already been finalized with major property owners in the retail sector, covering around 170 DOUGLAS and NOCIBÉ stores. The company is actively engaged in advanced discussions with further landlords, with a wider implementation planned for the future.
Irrespective of the challenging environment, the DOUGLAS Group remains firmly convinced of its omnichannel business model as the winning formula for premium beauty. It continues to invest in its growth strategy “Let it Bloom” and has recently achieved a number of milestones in key initiatives:
DOUGLAS Group confirms guidance for 2024/25
To reflect the changed market environment, the DOUGLAS Group revised its guidance for the financial year 2024/25 on 20 March 2025. The company today confirmed this outlook and continues to expect sales of around 4.5 billion euros, an adj. EBITDA margin of around 17% and a net income of around 175 million euros. Average NWC is expected to amount to less than 5% of Group sales. In consideration of the global macroeconomic and political developments as well as the sentiment in the beauty markets, the company will set up a new mid-term forecast as part of the business planning for the upcoming years and will thus comment on that at the full-year reporting in December.
Overview Financial Results (Q2 2024/25)
Sales per channel
Q2 2024/25 | Q2 2023/24 | Q2 2024/25 | Change | Change |
Group Sales | €958.4m | €939.0m | -2.0% | -2.5% |
Stores | €626.9m | €626.1m | -0.1% | -2.4% |
E-Commerce | €331.5m | €312.9m | -5.6% | -2.5% |
E-Commerce % of sales | 34.6% | 33.3% | -1.3ppts |
|
Sales per segment
Q2 2024/25 | Q2 2023/24 | Q2 2024/25 | Change (reported) | Change (lfl) |
Group Sales | €958.4m | €939.0m | -2.0% | -2.5% |
| €459.4m | €442.2m | -3.7% | -4.7% |
| €168.5m | €164.3m | -2.5% | -3.4% |
| €141.9m | €142.5m | +0.4% | -0.9% |
| €136.2m | €146.5m | +7.6% | +4.4% |
| €43.7m | €43.4m | -0.7% | -1.0% |
Key financial figures
Q2 2024/25 | Q2 2023/24 | Q2 2024/25 | Change (reported) |
Group Sales | €958.4m | €939.0m | -2.0% |
Reported EBITDA | €106.6m | €122.0m | +14.5% |
Adjusted EBITDA | €145.9m | €122.4m | -16.1% |
Net Income | €-41.3m | €-19.0m | +54.0% |
Free Cash Flow (FCF) | €-96.0m | €-186.5m | -94.2% |
NWC % of sales (Ø LTM) | 5.5% | 5.3% | -0.2ppts |
Overview Financial Results (H1 / 6M 2024/25)
Sales per channel
H1 2024/25 | H1 2023/24 | H1 2024/25 | Change | Change |
Group Sales | €2,514.0m | €2,585.4m | +2.8% | +2.4% |
Stores | €1,668.8m | €1,727.2m | +3.5% | +1.4% |
E-Commerce | €845.2m | €858.2m | +1.5% | +4.1% |
E-Commerce % of sales | 33.6% | 33.2% | -0.4ppts |
|
Sales per segment
H1 2024/25 | H1 2023/24 | H1 2024/25 | Change (reported) | Change (lfl) |
Group Sales | €2,514.0m | €2,585.4m | +2.8% | +2.4% |
| €1,147.4m | €1,173.0m | +2.2% | +1.2% |
| €503.8m | €506.5m | +0.5% | -0.5% |
| €376.1m | €391.1m | +4.0% | +3.3% |
| €361.8m | €401.9m | +11.1% | +8.0% |
| €106.9m | €112.8m | +5.5% | +5.1% |
Key financial figures
H1 2024/25 | H1 2023/24 | H1 2024/25 | Change (reported) |
Group Sales | €2,514.0m | €2,585.4m | +2.8% |
Reported EBITDA | €425.0m | €472.1m | +11.1% |
Adjusted EBITDA | €494.2m | €475.9m | -3.7% |
Net Income | €83.9m | €144.0m | +71.7% |
Free Cash Flow (FCF) | €363.4m | €308.0m | -15.3% |
Segment Overview: DACHNL (Austria, Belgium, Germany, Switzerland, The Netherlands), France (France, Monaco), SE / Southern Europe (Andorra, Croatia, Italy, Portugal, Slovenia, Spain), CEE / Central Eastern Europe (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 1,900 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”. The winning business model is underpinned by the Group’s omnichannel proposition, leading brands, and data capabilities. In the financial year 2023/24, the DOUGLAS Group generated sales of 4.45 billion euros and employed around 19,200 people across Europe. It was named the World’s Top Company for Women in 2024 among all retail and wholesale companies by Forbes. The DOUGLAS Group (Douglas AG) is listed at the Frankfurt Stock Exchange.
Peter Wübben
SVP Group Communications & Sustainability
Tel: +49 211 16847 6644
Mail: newsroom@douglas.de
Stefanie Steiner
Director Investor Relations and M&A
Tel: +49 211 16847 8594
Mail: ir@douglas.de
Düsseldorf, 9 April 2025 – The DOUGLAS Group, Europe’s number one omnichannel destination for premium beauty, relaunches its renowned loyalty program, the DOUGLAS Beauty Card, with new benefits and services tailoring it even more closely to customers’ interests and needs. The new tiered program launches today in the Netherlands and Belgium, with other countries to follow in due course.
The DOUGLAS Beauty Card is one of the most successful loyalty programs in the beauty industry across Europe with around 59 million members (as of September 30, 2024). Initially launched in Germany 30 years ago, today every third household in the Group’s largest markets has a Beauty Card. “With the new DOUGLAS Beauty Card, we want to offer our customers an even more personalized and emotionally engaging beauty shopping experience with experiential rewards and premium benefits both online and in our stores”, said Eva Molsich, SVP Group CRM & Analytics at the DOUGLAS Group. “Our goal is to build long-term loyalty by strengthening the bond with our customers and drive sales by increasing the frequency and number of annual purchases.”
Incentivized omnichannel shopping experience
The revamped loyalty program is an integral part of a holistic, omnichannel CRM approach that is rooted in the DOUGLAS Group’s ‘Let it Bloom’ strategy and its ambition to offer the most customer-friendly omnichannel experience. It seamlessly integrates online channels with around 1,900 DOUGLAS and NOCIBÉ stores, inviting customers into an exclusive world of beauty benefits, which they can enjoy both online and offline. Innovations such as the ‘favorite store’ feature and access to in-store beauty services and events create compelling incentives for omnichannel shopping.
The enhanced program features three tiers: Beauty Card, Beauty Card Gold, and Beauty Card Platinum. Customers are assigned to a tier based on the number of Beauty Points collected through their annual online and offline purchases. Each tier offers a range of personalized gifts and discounts, beauty service rewards, and exclusive access to events and member-only sales, incentivizing customers to move up the tiers and unlock exclusive advantages.
Digital and physical card with modern design
Customers can enroll in the omnichannel Beauty Card program either online or in-store, choosing between a digital and / or physical card. The new physical card, made of at least 98% recycled plastic, is fully recyclable and features a modern, shimmering design in the brand color mint, reflecting DOUGLAS’ premium brand positioning.
Communication through innovative international 360-degree marketing campaign
The launch of the new loyalty program will be powered by a dedicated international 360-degree marketing campaign under the slogan "YOUR BEAUTY, YOUR BENEFITS. AGAIN & AGAIN.” Central to the campaign is a mint-colored Beauty Card frame, mirroring the shape of the physical card and serving as a recurring element across all campaign assets. The frame highlights people, faces, products, and specific benefits, symbolizing the versatile applications and personalized rewards of the new Beauty Card while shifting the focus from the physical to the digital card.
Following its introduction in the Netherlands and Belgium, the new loyalty program will be gradually rolled out across the DOUGLAS Group in line with the standardization of the Group’s IT infrastructure. The next countries to adopt the program in 2025 will be Switzerland, Italy, Germany, Austria, Hungary, Poland and Lithuania. All other countries will be integrated gradually over the coming years to achieve a harmonized Group-wide program.
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 1,900 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”. The winning business model is underpinned by the Group’s omnichannel proposition, leading brands, and data capabilities. In the financial year 2023/24, the DOUGLAS Group generated sales of 4.45 billion euros and employed around 19,200 people across Europe. It was named the World’s Top Company for Women in 2024 among all retail and wholesale companies by Forbes. The DOUGLAS Group (Douglas AG) is listed at the Frankfurt Stock Exchange.
Maren Peters
Corporate Communications Manager
Tel: +49 211 16847 6644
Mail: newsroom@douglas.de
Düsseldorf, 26 March 2025 – The DOUGLAS Group, Europe’s number one omnichannel premium beauty destination, has initiated a broad rollout of so-called Green Lease agreements, marking a major milestone in the execution of its sustainability strategy. These agreements are distinct contracts between landlord and tenant which include a specific legal clause that aims for more environmental friendly real estate use including the reduction of CO₂ emissions through mutual sharing of responsibility. Agreements have already been finalized with major property owners in the retail sector, including ECE Group and Klépierre, covering around 170 DOUGLAS and NOCIBÉ stores. The company is actively engaged in advanced discussions with a range of further landlords – with a wider implementation planned for the future.
Sander van der Laan, CEO of the DOUGLAS Group, said: “We are 100% committed to making our stores, offices and warehouses as sustainable as possible. As a retailer with around 1,700 stores under own operations across Europe, we take our responsibility very seriously and know that we have a major impact. The Green Lease agreements underscore our engagement for sustainability and aim to reduce our environmental impact. Our stores generate the highest energy consumption within our group and by closely collaborating with our real estate partners, we take a great step towards our long-term vision for a greener, more energy-efficient store network.”
By partnering with its landlords on Green Leases, the DOUGLAS Group further anchors sustainability as a key component in the development of its store network. The contracts include the integration of energy-efficient technologies, such as LED lighting, advanced HVAC systems, and the use of renewable energy sources. The real estate partners will align their building designs with high sustainability standards, contributing to the creation of resource-efficient spaces, which benefits both the property owner and the DOUGLAS Group as the tenant – and ultimately also the environment.
Marcel Uphues, SVP Group Controlling & Real Estate at the DOUGLAS Group, said: “We are proud to have strong partners at our side who support our commitment to make our stores as sustainable as possible. Closely working together with our real estate partners is crucial to our efforts to promote a greener, more sustainable future, and we can only achieve this goal by sharing responsibility. With this milestone, we are setting a benchmark for the retail industry and the real estate environment.”
Implementation of Smart Meters and green electricity
In addition to Green Leases, the DOUGLAS Group is implementing further initiatives and activities in order to increase the sustainable use of its real estate. These include the Group-wide rollout of Smart Meters, which allow for an improved monitoring of energy consumption. The company is committed to install the technology in a majority of its stores and offices by the end of the financial year 2024/25. The DOUGLAS Group has also achieved major progress in transitioning to renewable energy sources: It already uses green electricity in both stores and offices in 50% of the countries in which it operates, and plans to expand this initiative in the coming years.
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 1,900 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”. The winning business model is underpinned by the Group’s omnichannel proposition, leading brands, and data capabilities. In the financial year 2023/24, the DOUGLAS Group generated sales of 4.45 billion euros and employed around 19,200 people across Europe. It was named the World’s Top Company for Women in 2024 among all retail and wholesale companies by Forbes. The DOUGLAS Group (Douglas AG) is listed at the Frankfurt Stock Exchange. For further information please visit the DOUGLAS Group Website.
Katharina Lessenich
Tel: 0211168476644
Mail: newsroom@douglas.de
Düsseldorf, 20 March 2025 – In light of a slowdown in the European premium beauty market – most notably in Germany and France – the DOUGLAS Group is adjusting its guidance for the current financial year. The already weak customer sentiment, burdened by global macroeconomic and political uncertainties, has continued to deteriorate since February, leading to a decline in footfall in stores and traffic online. The Group is also assessing its mid-term guidance including the expected leverage ratio and will inform about this on the occasion of the Q2 reporting on 15 May.
Sander van der Laan, CEO of the DOUGLAS Group, said: “The increasing economic and political global tensions have now also reached the premium beauty sector in Europe. In the past weeks we have seen an accelerating slowdown in consumer traffic and demand in the market, which also impacts the business of the DOUGLAS Group. Hence, our recent sales and gross profit developments have not met our initial expectations. We have to face this current situation and therefore adjust our guidance for this financial year. We already have initiated several countermeasures to stabilize our performance. The DOUGLAS Group is well positioned and our omnichannel strategy continues to be the winning model for premium beauty.”
Markets characterized by uncertainty and lower willingness to spend
The recent deterioration in customer demand has mostly affected the DOUGLAS Group’s two most important beauty markets of Germany and France, where customer traffic has notably decreased. The company attributes this development mainly to a growing uncertainty among consumers regarding macro-economic and geopolitical tensions, the economic and political situation in Germany and looming international trade conflicts which could harm key industries and burden the overall purchasing power in Europe. Growth in most of the other 20 DOUGLAS Group omnichannel countries also slowed down, but still developed relatively robust.
Guidance for 2024/25 adjusted
In light of the overall negative development, the Management Board of the DOUGLAS AG today has adjusted the guidance for the financial year 2024/25:
The guidance on Net Working Capital remains unchanged: on average, Net Working Capital is still expected to amount to <5% of Group sales.
Countermeasures to drive sales and stabilize profitability
The DOUGLAS Group already launched several countermeasures to drive sales, stabilize its gross margin and safeguard profitability, including SG&A (sales, general and administrative) cost reductions, tightening of NWC and capital expenditures as well as a capital re-allocation to adjust to the current market development.
Undeterred by the market situation, the DOUGLAS Group remains fully convinced of the effectiveness and attractiveness of its omnichannel model. The company continues to invest in its growth strategy ‘Let it Bloom’, including, among others, the expansion and refurbishment of its store network across Europe, the E-Com business, and the future-proof transformation of its Supply Chain and Group-wide IT infrastructure.
“These are challenging times and we already took striking decisions,” said van der Laan. “We move every lever in our business to safeguard our sales and profits – as well as our employees and shareholders. We do this very consistently and with highest priority: with targeted investments in growth and with extensive cost savings. We are confident that we will overcome these challenges and that the premium beauty market will recover when the global economic situation improves.”
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 1,900 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”. The winning business model is underpinned by the Group’s omnichannel proposition, leading brands, and data capabilities. In the financial year 2023/24, the DOUGLAS Group generated sales of 4.45 billion euros and employed around 19,200 people across Europe. It was named the World’s Top Company for Women in 2024 among all retail and wholesale companies by Forbes. The DOUGLAS Group (Douglas AG) is listed at the Frankfurt Stock Exchange.
Peter Wübben
SVP Group Communications & Sustainability
Tel: +49 211 16847 6644
Mail: newsroom@douglas.de
Stefanie Steiner
Director Investor Relations and M&A
Tel: +49 211 16847 8594
Mail: ir@douglas.de
Düsseldorf, 12 March, 2025 – Marco Giorgetta, currently Chief Financial Officer (CFO) of DOUGLAS Southern Europe and Italy, will take over the position as new DOUGLAS Group CFO from Mark Langer, who decided to leave the company after four successful years. With this thoroughly planned step, the DOUGLAS Group ensures a smooth transition and continuity at the top of its finance organization. The Supervisory Board already confirmed Mark Langer’s resignation and the appointment of Marco Giorgetta as of May 1.
“With Mark Langer, we are losing a valued colleague and financial expert with whom we have shared many successful achievements”, DOUGLAS Group CEO Sander van der Laan said. “Mark Langer made a crucial contribution to the development and implementation of our ‘Let It Bloom’ strategy and created a solid financial foundation for the future of our company including our IPO. I would like to sincerely thank him on behalf of the Management Board and the entire DOUGLAS Group. At the same time, with Marco Giorgetta we gain an experienced finance and retail manager who knows the beauty market and the company inside out. We are very happy to have found this excellent internal successor, who brings strong leadership skills and great expertise in our business and thus ensures consistency in our financial activities and beyond.”
“I‘m thankful for my time at DOUGLAS”, Mark Langer said. “After the IPO in 2024, the first Annual Shareholder Meeting of the DOUGLAS AG this February and most recently the successful closure of the new refinancing, the right time has come for me to initiate my succession. I am happy to hand over my tasks to such an experienced finance manager and business leader as Marco Giorgetta, with whom I’ve worked closely together already in his current position.”
“I appreciate the trust that is placed in me to take on the role of the DOUGLAS Group CFO”, said Marco Giorgetta. “I am very much looking forward to the new tasks and working together with all the colleagues in Düsseldorf and the country clusters as well as with Sander van der Laan and Philipp Andrée in the Management Board. An exciting new chapter is beginning for me, and I am confident that we will continue the successful course of the DOUGLAS Group all together.”
Mark Langer joined DOUGLAS in May 2021 as CFO and did successfully steer and develop the overall finance functions of the Group, but also the Legal Department, Real Estate, Supply Chain, Indirect Procurement, Internal Audit Quality Assurance and the Project Management Office (PMO). Starting his career at McKinsey & Company and Procter & Gamble, Mark Langer worked in leading top-positions at the fashion brand HUGO BOSS from 2003 to 2020, most recently as CEO & Chairman of the Management Board.
Marco Giorgetta joined DOUGLAS Italy as CFO in 2017 and additionally took over the responsibility as CFO Southern Europe in 2021. Prior to that, he was CFO at Limoni, an Italian beauty chain which DOUGLAS acquired in 2017. From 2011 to 2017, Marco Giorgetta worked for the private equity firms Bridgepoint and Orlando Italy, and before he began his career in the Investment Banking division at Morgan Stanley.
Dr. Henning Kreke, Chairman of the Supervisory Board, said: “DOUGLAS’ success story in recent years is also due to the strong work of Mark Langer and his teams. On behalf of the Supervisory Board, I would like to thank him for his dedication and ongoing passion for DOUGLAS and to also warmly welcome Marco Giorgetta in his new role as Group CFO. I am happy that we have found a great internal successor in Marco Giorgetta ensuring a smooth transition, long term continuity and sustainable growth for the company. With his profound track record coupled with a passion for omnichannel retail, Marco Giorgetta will further enhance the strong financial position of the DOUGLAS Group. We wish both Mark Langer and Marco Giorgetta all the best for their next steps.”
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 1,900 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”. The winning business model is underpinned by the Group’s omnichannel proposition, leading brands, and data capabilities. In the financial year 2023/24, the DOUGLAS Group generated sales of 4.45 billion euros and employed around 19,200 people across Europe. It was named the World’s Top Company for Women in 2025 among all retail and wholesale companies by Forbes. The DOUGLAS Group (Douglas AG) is listed at the Frankfurt Stock Exchange.
Peter Wübben
SVP Group Communications & Sustainability
Tel: +49 211 16847 6644
Mail: newsroom@douglas.de
Düsseldorf, 10 March, 2025 – The DOUGLAS Group, Europe’s number one omnichannel premium beauty destination, has secured a partial financing with no in rem security through a German private placement (Schuldscheindarlehen) of 200 million euros. Together with 250 million euros of liquidity from the operational business, the funds will be used to fully repay the bridge facility of 450 million euros set up one year ago after the IPO at the Frankfurt Stock Exchange. Although the DOUGLAS Group could have extended the bridge twice for six months each, the company repaid the facility at first due, thus reducing interest costs by around 3.3 million euros.
Diversified maturity profile – increasing financial flexibility
Conceived with a marketing volume of 150 million euros, the DOUGLAS Group ultimately achieved a volume of 200 million euros for the private placement. Investors from both Germany and abroad, with a strong commitment from each of the four arranging banks, are participating in the placement. Maturities range from three to seven years. As a result, the company diversified its maturity profile and further reduced costs of debt. The interest cost savings from the private placement can be used to support the Group’s expansion plans.
Mark Langer, CFO of the DOUGLAS Group, said: “This step and the repayment of debt with our own operational liquidity are a clear signal: We shall and will significantly reduce our debt. Our continuously improving financial profile and increasing financial flexibility are key to the further expansion of our successful business model. We believe we are well set for the future.”
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 1,900 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”. The winning business model is underpinned by the Group’s omnichannel proposition, leading brands, and data capabilities. In the financial year 2023/24, the DOUGLAS Group generated sales of 4.45 billion euros and employed around 19,200 people across Europe. It was named the World’s Top Company for Women in 2025 among all retail and wholesale companies by Forbes. The DOUGLAS Group (Douglas AG) is listed at the Frankfurt Stock Exchange.
Peter Wübben
SVP Group Communications & Sustainability
Tel: +49 211 16847 6644
Mail: newsroom@douglas.de
Stefanie Steiner
Director Investor Relations and M&A
Tel: +49 211 16847 8594
Mail: ir@douglas.de
Düsseldorf, 13 February, 2025 – The DOUGLAS Group, Europe’s number one omnichannel destination for premium beauty, started with a solid first quarter into the financial year 2024/25 – despite a persistently weak consumer sentiment especially in Germany and France, and compared to a very strong first quarter of the previous year. At the same time, the company continued to grow profitably with a significantly improved net income.
The DOUGLAS Group grew sales by 5.8% to 1.65 billion euros in the period from 1 October to 31 December 2024 (Q1 2023/24: 1.56 billion euros), with contributions from both sales channels: Store sales went up 5.7% (lfl: +3.8%) and E-Com grew 6.2% (lfl: +8.2%), reconfirming the strength of the Group’s omnichannel model as a winning formula for beauty retail. Following a strong start to the first quarter in October and November with Singles’ Day and Beauty Friday, sales momentum slowed down in December and remained soft into the first weeks of the new calendar year. This development was mainly due to muted store sales in Germany and France also in the wake of a very late Black Friday, which was almost a week closer to Christmas than in 2023.
Sander van der Laan, CEO of the DOUGLAS Group, said: “We kicked off the new financial year with a solid performance and continued to grow – not just against a very strong prior-year quarter, but also a challenging economic environment, with consumer sentiment across wide parts of Europe notably softening. At the same time, we are making good progress with our expansion as well as the execution of our strategy ‘Let it Bloom’, and have made great improvements in our quarterly net income and deleveraging. Therefore, in spite of the market pressure, our full-year targets remain unchanged, yet we may end up at the lower end of our adj. EBITDA guidance.”
Sales growth driven by all segments
On a like-for-like basis, Group sales increased by 5.3%, with price inflation clearly below Q1 2023/24. Excluding the sold-off online pharmacy business Disapo, Group sales growth for the first quarter of 2024/25 stood at 6.5% and E-Com growth at 8.3%. Sales growth in Q1 2024/25 was driven by all segments: CEE (Central Eastern Europe) continued to lead the growth development with a double-digit sales increase of 13.2%, followed by PD/NB (Parfumdreams / Niche Beauty) at 9.8% and DACHNL (Germany / Austria / Switzerland / The Netherlands / Belgium) at 6.2%. As a result of a growing E-Com share in all segments – in particular with CEE improving E-Com sales by 16.5% -, the online business accounted for around a third of total Group sales in the first quarter.
Profitable growth in a challenging market environment
The company continued to grow profitably: Adj. EBITDA reached 353.5 million euros, reflecting a 1.5% increase from the prior year and corresponding to an adj. EBITDA margin of 21.5% (PY: 22.4%). Reported EBITDA grew 9.9% to 350.1 million euros, with an improved margin of 21.3% (PY: 20.5%).
EBITDA adjustments decreased by 88.5% compared to the previous year, as 2023/24 one-off effects in relation to, among others, the IPO in spring of 2024 and strategic projects did not re-occur. The DOUGLAS Group expects a notable decrease in one-off effects going forward and thus anticipates adjustments to remain low in the foreseeable future. Combined with the significantly reduced interest expenses, this development leads to a further improved net income.
Quarterly net income saw a significant improvement, rising to 163.0 million euros – a 30.2% increase from 125.2 million euros last year – primarily driven by a strong operational performance and the aforementioned decreased interest expenses. Free Cash Flow (FCF) climbed 7.6% to 494.5 million euros (PY: 459.4 million euros). With a resulting leverage ratio of 2.3x as of 31 December 2024, the company is on track to deleverage its balance sheet and to achieve a leverage ratio of around 2.0x at the end of the calendar year 2025. The company also improved its operational efficiency: Average Net Working Capital (NWC) on an LTM basis per 31 December 2024 amounted to 5.4% (-0.1ppts) of Group sales, a slight improvement from 5.5% a year ago.
Progress in network development and strategy execution
The DOUGLAS Group continues to develop its store network and has opened 20 new own stores between October and December 2024, including a new Flagship store in Zagreb, Croatia, and a total of 14 stores in CEE. The company opened its 5th store in Belgium after it entered the market in 2023, with more openings to follow in the financial year 2024/25. Another 34 existing own stores were refurbished (including relocations). Two franchise stores were closed in the same period. As a result of its store network development initiative, the DOUGLAS Group now operates more than 1,900 stores in 22 omnichannel countries across Europe, all of which also offer online shops.
The Group’s omnichannel model – proven again to be highly attractive for customers and a winning formula in beauty retail – continues to be at the heart of the growth strategy “Let it Bloom”. Recently, the company has made further progress in its implementation across various strategic pillars.
Underscoring its ambition to offer the most relevant and distinctive range of brands, the DOUGLAS Group is further developing its assortment strategy, with a key launch set for next week: The Group will exclusively distribute TYPEBEA by renowned singer Rita Ora, the first exclusive brand launch in the strongly growing haircare category. The brand will be rolled out simultaneously across all 22 omnichannel countries and marks one of the most important launches in the financial year 2024/25.
The DOUGLAS Group has furthermore achieved major progress in the development of its supply chain and the rollout of its successful OWAC model (OWAC = One Warehouse, All Channels) across Europe. The company has made the strategic decision to establish a network of seven omnichannel warehouses, four of which are already in operations: Hamm (DACH), Lille (France), Illescas (Spain) and Bologna (Italy). Three additional warehouses will be implemented in Warsaw (Poland), the Netherlands and Romania. In France, the DOUGLAS Group has recently successfully merged its previous two warehouses into a single OWAC (Lille). In addition, logistics in Bologna, Italy, are currently being moved into a brand new OWAC, which will be operated by long-term industry partner Arvato. The Go-live is currently planned for Summer 2025. The new Italian OWAC will in the future also serve two more Southern Europe markets: Slovenia and Croatia.
Moreover, the DOUGLAS Group has recently signed a lease contract for its Polish warehouse, which offers more than 46,200m² of space to serve the strongly growing CEE market and is expected to commence operations in the second half of 2025. The facility, operated by Arvato, will also entail a dedicated warehouse for the DOUGLAS Group Corporate Brands supplying all Group-wide OWACs.
Full year guidance remains unchanged
The company’s full year guidance remains unchanged with sales to increase to 4.7 billion euros to 4.8 billion euros in the financial year 2024/25. Adj. EBITDA can be expected at the lower end of the range of 855 to 885 million euros. Average Net Working Capital is expected to amount to less than 5% of total Group sales in 2024/25.
Overview Financial Results
Sales per channel
Q1 FY 2024/25 | Q1 2023/24 | Q1 2024/25 | Change | Change |
Group Sales | €1,555.5m | €1,646.4m | +5.8% | +5.3% |
Stores | €1,041.9m | €1,101.0m | +5.7% | +3.8% |
E-Commerce | €513.6m | €545.3m | +6.2% | +8.2% |
E-Commerce % of sales | 33.0% | 33.1% | +0.1ppts |
|
Sales per segment
Q1 FY 2024/25 | Q1 2023/24 | Q1 2024/25 | Change (reported) | Change (lfl) |
Group Sales | €1,555.5m | €1,646.4m | +5.8% | +5.3% |
| €688.0m | €730.8m | +6.2% | +5.2% |
| €335.3m | €342.2m | +2.1% | +0.9% |
| €234.2m | €248.7m | +6.2% | +6.1% |
| €225.6m | €255.4m | +13.2% | +10.2% |
| €63.2m | €69.4m | +9.8% | +9.3% |
Key financial figures
Q1 FY 2024/25 | Q1 2023/24 | Q1 2024/25 | Change (reported) |
Group Sales | €1,555.5m | €1,646.4m | +5.8% |
Adjusted EBITDA | €348.3m | €353.3m | +1.5% |
Reported EBITDA | €318.4m | €350.1m | +9.9% |
Net Income | €125.2m | €163.0m | +30.2% |
Free Cash Flow (FCF) | €459.4m | €494.5m | +7.6% |
NWC % of sales (Ø LTM) | 5.5% | 5.4% | -0.1ppts |
Segment Overview: DACHNL (Austria, Belgium, Germany, Switzerland, The Netherlands), France (France, Monaco), SE / Southern Europe (Andorra, Croatia, Italy, Portugal, Slovenia, Spain), CEE / Central Eastern Europe (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 1,900 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”. The winning business model is underpinned by the Group’s omnichannel proposition, leading brands, and data capabilities. In the financial year 2023/24, the DOUGLAS Group generated sales of 4.45 billion euros and employed around 19,200 people across Europe. It was named the World’s Top Company for Women in 2025 among all retail and wholesale companies by Forbes. The DOUGLAS Group (Douglas AG) is listed at the Frankfurt Stock Exchange.
Peter Wübben
SVP Group Communications & Sustainability
Tel: +49 211 16847 6644
Mail: newsroom@douglas.de
Stefanie Steiner
Director Investor Relations and M&A
Tel: +49 211 16847 8594
Mail: ir@douglas.de
Düsseldorf, 6 February 2025 – The DOUGLAS Group, Europe’s number one omnichannel destination for premium beauty, today announced a change in the leadership team of its brands parfumdreams & Niche Beauty: After more than six years in different functions at the DOUGLAS Group, Steven Mattwig, currently Senior Vice President (SVP) / CEO parfumdreams & Niche Beauty, will leave the DOUGLAS Group to pursue a new challenge outside the company. As of 1 March 2025, Nina Pütz will take over as SVP / CEO of parfumdreams & Niche Beauty.
Nina Pütz brings more than 20 years of experience in various leading positions in e-commerce and retail. Most recently, she served as the CEO & Managing Director of Ratepay, an online payment provider, where she successfully transformed the company and established a foundation for future growth through technical scaling and automation. Before her tenure at Ratepay, Nina Pütz was the CEO of the online shopping club brands4friends. She also held multiple roles in general management, business development, strategy, and category management at eBay. Nina Pütz began her career in offline retail with Peek & Cloppenburg, giving her a comprehensive understanding of both online and offline business environments. In addition to her strong leadership skills, she is also a passionate public speaker and the author of the book "Die Macherinnen – So geht Unternehmen!"
“We are really happy to have won Nina for our team. Her experience in e-commerce and retail, combined with her entrepreneurial mindset and strong hands-on mentality will be a great asset to parfumdreams and Niche Beauty,” said Philipp Andrée, CCO DOUGLAS Group and responsible for the two brands. “We are looking forward to her growing parfumdreams and Niche Beauty even further and implementing our strategy ‘Let it Bloom’. We look forward to our future collaboration and wish Nina a great start.”
Steven Mattwig joined DOUGLAS in October 2018 as Director E-Commerce International & Marketplace and was decisive in establishing and developing the partner program and accelerating DOUGLAS’ E-Commerce growth. Early 2021, Steven Mattwig took over the position of SVP / CEO of parfumdreams and as of January 2023 as SVP / CEO for parfumdreams & Niche Beauty. Under his leadership, parfumdreams, Akzente and Niche Beauty have made significant progress including the repositioning of parfumdreams as important part of the dual brand strategy with DOUGLAS. At the same time, Niche Beauty has been revitalized as a strong growing luxury player with a unique assortment.
“We would like to thank Steven for his commitment and his invaluable contribution to the growth of parfumdreams and Niche Beauty. With his strategic mindset and entrepreneurial spirit, Steven has not only successfully driven the business over the past years but has also built a strong team. We wish him continued success for the future”, said Philipp Andrée.
The commercial brands parfumdreams and Niche Beauty both belong to the DOUGLAS Group. Parfumdreams offers its customers a wider selection of beauty products at attractive prices through their online shop and across several stores under the brand Akzente in Germany. Headquartered in Hamburg, the luxury subsidiary company, Niche Beauty, has dedicated itself fully to crafting an online shop that offers the world’s most exciting and sophisticated cosmetics brands. In carefully curated collections, customers can find premium and niche products, some of which are only known to insiders.
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 1,880 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”. The winning business model is underpinned by the Group’s omnichannel proposition, leading brands, and data capabilities. In the financial year 2023/24, the DOUGLAS Group generated sales of around 4.5 billion euros and employed around 19,200 people across Europe. It was named the World’s Top Company for Women in 2025 among all retail and wholesale companies by Forbes. The DOUGLAS Group (Douglas AG) is listed at the Frankfurt Stock Exchange.
Peter Wübben
SVP Group Communications & Sustainability
Tel: +49 211 16847 6644
Mail: newsroom@douglas.de
Have you heard about DOUGLAS Daily? Our new beauty multimedia library for Germany, Austria and Switzerland? In addition to packshots and press information about products from our exclusive brands and own brands, you can also discover more about a steadily growing portfolio of other brands available at DOUGLAS, in the form of informative brand pages, a pool of experts and a magazine full of inspiring lifestyle content.
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