Douglas has completed its acquisition of Parfümerie Akzente GmbH. The agreement includes a majority stake in the company, which includes online retailer parfumdreams.
Douglas intends to continue operating parfumdreams under its brand name, and to introduce it to other Douglas markets as part of a two-brand strategies. One of the largest online perfumeries in Germany, parfumdreams has activities in ten other European countries, including the Netherlands, Belgium, Italy, Spain and France. Its founder, Kai Renchen, will remain managing director of Parfümerie Akzente, including its online shop parfumdreams.
Parfümerie Akzente reported net sales of around 75 million Euros in the fiscal year 2017, and has around 450 employees. The acquisition was financed by Douglas operating cash flow; the parties agreed not to disclose the purchase price.
“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 Douglas CEO Tina Müller. “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.”