BERLIN — Douglas AG released its first financial details following its delisting from the German stock exchange. The company was taken private with investor Advent and the founding Kreke family earlier this year.
The Hagen, Germany-based parent company of retail chains — including Douglas Perfumeries as well as apparel, jewelry, confectionary and book stores — reported a rise in net sales of 0.5 percent to 3.5 billion euros, or $4.59 billion at average exchange rates, for its fiscal year ended Sept. 30.
Douglas Perfumeries and Christ Jewelry stores are both receiving pre-holiday marketing makeovers, the company said, and the Douglas Group’s online shops will be strengthened as well. Christ will also collaborate with German Web retailer Zalando.
Douglas president and chief executive officer Henning Kreke also told a news conference in Düsseldorf on Tuesday that the company, which recently moved to purchase French perfumery chain Nocibé, was looking to grow through further acquisitions, especially in home country Germany.
The deal, which should be finalized in the first half of 2014, would create the largest perfumery chain in France, consisting of 625 stores and about 4,000 employees. Together, Douglas and Nocibé would achieve a number-two position in France in terms of turnover, according to the company.