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French perfume and cosmetics group Bogart, owner of the Ted Lapidus and Chevignon perfume brands, has announced its financial results for the first quarter of 2021, along with the announcement of an offer to acquire 41 Nocibé shops.
Results for the first quarter of 2021
In the first quarter of 2021, the Bogart Group achieved sales of €48.5 million, a limited decline of 9.9%. In comparison, the results achieved in this quarter are lower than those of last year, as the lockdown only impacted business in the last two weeks of March 2020.
Thus, the imposed closure of shops, notably in Germany (since 15 December 2020) and in Israel (from January 2021 to mid-February 2021), penalised their activity, while the brand activity remained stable.
However, the Bogart Group expects its business to perform better in 2021, confident in particular of the gradual reopening of the various markets and the expected end of the lockdown measures.
“As in 2020, the health situation has led us to further adapt our expenses to preserve the group’s profitability. The April turnover is encouraging, we now anticipate significant growth in Ebitda in 2021” said Bogart Group Chairman, David Konckier.
The potential takeover of Nocibé shops
The Bogart Group also announced on Friday that it had submitted a “firm” takeover offer for 41 of the 62 Nocibé perfumeries that its owner has decided to close in France. Indeed, last January, the German perfume group Douglas, owner of Nocibé, has announced the closure, by autumn 2022, of nearly 20% of its shops in Europe, in order to concentrate on online sales.
Nocibé has a turnover of nearly one billion euros, with a total of 600 points of sale, “this operation would allow us to cross a new threshold to reach 71 shops in France and over 400 in total worldwide. We have already acquired 13 Nocibé/Douglas perfumeries in 2014, which confirms our ability to integrate the staff and operate these new shops”, says David Konckier.
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Featured photo : © Jacques Bogart[/vc_column_text][/vc_column][/vc_row][vc_row njt-role=”not-logged-in”][vc_column][vc_column_text]
French perfume and cosmetics group Bogart, owner of the Ted Lapidus and Chevignon perfume brands, has announced its financial results for the first quarter of 2021, along with the announcement of an offer to acquire 41 Nocibé shops.
Results for the first quarter of 2021
In the first quarter of 2021, the Bogart Group achieved sales of €48.5 million, a limited decline of 9.9%. In comparison, the results achieved in this quarter are lower than those of last year, as the lockdown only impacted business in the last two weeks of March 2020.
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French perfume and cosmetics group Bogart, owner of the Ted Lapidus and Chevignon perfume brands, has announced its financial results for the first quarter of 2021, along with the announcement of an offer to acquire 41 Nocibé shops.
Results for the first quarter of 2021
In the first quarter of 2021, the Bogart Group achieved sales of €48.5 million, a limited decline of 9.9%. In comparison, the results achieved in this quarter are lower than those of last year, as the lockdown only impacted business in the last two weeks of March 2020.
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