As IPO markets in the US and Europe start warming up again, plans have resurfaced to take Douglas public. Reuters reported CVC is working with Rothschild & Co to prepare the initial public offering (IPO), which could happen as early as next year and be valued at up to €7 billion ($7.68 billion).

Douglas was removed from the stock market in 2013 after Advent International acquired an 80% stake in the business. Days after plans for a 2015 IPO were announced, CVC acquired Douglas from rival buyout firm Advent International in a deal worth almost €3 billion.

Bloomberg sources say Frankfurt looks to be the listing venue for Douglas, and CVC will initiate the pitching process for banks next month in preparation for a potential 2024 IPO. No final decisions have been made and will be contingent on valuation, timing, market conditions, investor demand, and the retailer's business development.

In April of 2021, Douglas secured a comprehensive refinancing package of €2.55 billion that was comprised of a €600 million senior secured term loan, €1,305 million of senior secured notes, €475 million of senior PIK notes, and a €170 million revolving credit line. Douglas’s shareholders, the financial investor CVC, and the Kreke family provided an additional €220 million of equity funding with the view of providing a five-year solid financial position.

The German-based beauty retailer was founded in 1821 and operates over 1,800 stores across Europe. Douglas generated revenue of about €3.7 billion in its 2021/22 fiscal year, with operating profit (adjusted EBITDA) up 32.9% year on year to €126.9.

Sander van der Laan, CEO of Douglas Group, said of the financial results released at the end of May, “As we look back on another successful quarter, it clearly shows that even in the current challenging environment of inflation and supply chain disruption, Douglas' business model proves to be resilient and well-positioned for the future."