Douglas owner CVC Capital Partners planned to capitalize on a rebound in European listings after holding the investment for nine years since acquiring the retailer from Advent International. However, the listing is off to a rocky start. Shares fell more than 12% on their return to the Frankfurt stock market in the country’s largest IPO since 2022.
WHO: The German-based beauty retailer Douglas was founded in 1821. Headquartered in Düsseldorf, the business is the leading omnichannel premium beauty destination in Europe, with 1,850 stores in 22 countries.
WHY: Backed by CVC Capital Partners and the Kreke family, Douglas will use the IPO proceeds of €850 million to pay off debt. Its owners have also committed to injecting around €300 million to bolster the retailer's balance sheet.
IN THEIR OWN WORDS: Sander van der Laan, CEO Douglas Group, said, “The significant investor interest in the Douglas Group underlines the exceptional work our team has accomplished in recent months. We look forward to continuing to drive our long-term growth with our strategy ‘Let it Bloom’ to further meet our customer needs and offer a unique assortment of the most relevant and distinctive range of brands.”
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