By 2023, Bogart, the French specialist in luxury perfumes and cosmetics, has achieved better performance in its Fragrances & Cosmetics business than in its major Beauty Retail division, affected by store closures in 2022. However, it is now relaunching its external growth, with the acquisition of points of sale for its German brand HC Parfumerie.
Bogart, the French specialist in luxury perfumes and cosmetics, ended 2023 rather well.
Admittedly, consolidated sales fell by 2.9% to 90.1 million euros in the fourth quarter, which ended last December. But apart from the fact that last year’s benchmark was high, like-for-like growth reached +1.7% in the last three months of the year.
For the full 2023 financial year, the group specialized in the creation, manufacture and marketing of luxury perfumes and cosmetics generated sales of 293.2 million euros, comparable (+0.7%) to 2022 on a reported basis. On a like-for-like basis, however, sales were up 5.5%.
Dynamic stores in Germany and Slovenia
Bogart Beauty Retail, our largest division in terms of sales volume, grew organically by 4.7% to €236.3 million. Fourth-quarter sales were down 3.5% at €72.4 million, but up 1.5% on a like-for-like basis. The “dynamic” activity of its directly-operated stores in Germany and Slovakia was unable to offset currency effects in Israel (with an impact of -€4.6 million) and changes in the scope of consolidation: by 2022, the group had closed 26 stores in France and Belgium. The conflict in Israel also disrupted business in the Group’s own network: the Group had to close 42 stores in the country for a week in October 2023, before reopening with modified opening hours.
To continue reading this article, subscribe or log in to your account
Discover our plans
- Every day, keep up to date with the latest business news from the world of luxury.
- Receive the essential luxury business news by email every week
- Access all our events
- The Luxury Journals and Luxus Magazine in print and digital versions
Subscribe for 1€
Become an active member of the community of luxury leaders.
Read also > WHO IS ROSE ET MARIUS, THE BOGART GROUP’S LATEST ACQUISITION
Featured Photo: © Bogart
