Douglas completes acquisition of parfumdreams. Douglas holds majority stake in medium‐sized company Parfümerie Akzente with successful online shop parfumdreams. parfumdreams founder Kai Renchen remains Managing Director of Parfümerie Akzente/parfumdreams.
Douglas completes acquisition of parfumdreams
Douglas, one of Europe’s leading beauty retailers, has completed the acquisition of Parfümerie Akzente GmbH. As agreed upon in April, Douglas acquired a majority stake in the medium‐sized company, which also includes the successful online shop parfumdreams. The German Federal Cartel Office had already granted the antitrust approval necessary for the completion of the transaction without conditions on July 25, 2018.
Strengthen our innovative capacities and sharpen our customer focus
“With the acquisition, we are giving our e‐commerce business a decisive boost. With our two brands Douglas and parfumdreams, we position ourselves online in an even more targeted manner, strengthen our innovative capacities and sharpen our customer focus,” said Tina Müller, CEO of Douglas. “I am very much looking forward to working with our new colleagues. As one of the leading companies for beauty products on the net, we will jointly play a decisive role in shaping the market for perfumery and cosmetic products online.”
parfumdreams founder Kai Renchen remains Managing Director of Parfümerie Akzente
parfumdreams is one of the largest online perfumeries in Germany with activities in ten other European countries, including the Netherlands, Belgium, Italy, Spain and France. Douglas plans to continue to operate the shop under its well‐known brand name and to roll it out in other Douglas markets as part of its two‐brand strategy. parfumdreams founder Kai Renchen remains Managing Director of Parfümerie Akzente, including its online shop parfumdreams. In this role he strengthens Douglas’ top management team with his e‐commerce expertise.
Acquisition will be financed by Douglas from operating cash flow
With around 450 employees, Parfümerie Akzente generated net sales of around 75 million Euros in the fiscal year 2017. The parties have agreed not to disclose the purchase price. The acquisition will be financed by Douglas from operating cash flow.