05 - 06 June 2024 in Munich CosmeticBusiness



14/03/2024 CosmeticBusiness

Douglas Plans Its IPO

This Is Intended to Further Debt Reduction And Value Creation

Douglas plans a stock market listing. The subscription period for the shares, which are expected to cost between 26 and 30 euros, has begun. The first day of trading is expected to be 21 March 2024. The public offering is aimed at private and institutional investors in Germany and will also include international private placements.

1.1 Billion Euros More Equity Is Projected

The company, by its own account, targets an equity contribution of around 1.1 billion euros. This reportedly will consist of the targeted IPO primary proceeds and an additional equity injection of around 300 million euros from the current shareholders. The Group is said to use the proceeds to continue deleveraging the balance sheet. The remaining debt position is expected to be refinanced at better terms in connection with the IPO. Finally, the IPO could enlarge the financial flexibility and further value creation, the company says.

Following the completion of the IPO, CVC Capital Partners will reportedly continue to hold an indirect majority interest in the Group. The Kreke family will also remain an indirect shareholder of Douglas. These two existing indirect shareholders will not sell any shares at the IPO.

Douglas Shows a Good Performance in a Robust Market

According to Douglas, the Group is the number one omnichannel premium beauty destination in Europe. As omnichannel customers reportedly spend over two times more than customers who only shop online or in-store5, this is the core of the Group’s business model. The European premium beauty market is expected to grow by about 5.4 per cent compound annual growth rate to 24.2 billion euros by 2028, the company says.

According to the Group's figures, Douglas achieved net sales of 1.56 billion euros in the first quarter of its financial year 2023/24 (October to December 2023). This corresponds to an increase of 8.0 per cent compared to the previous year (Q1 2022/23: 1.44 billion euros).

Source: Douglas

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