Belgian perfumery chains Di and Planet Parfum have been acquired by the French Groupe J. Bogart. Former owners Ackermans & van Haaren and NPM have had to write off a substantial loss on the sale.
8.5 million euro loss on sale
Ackermans & van Haaren and NPM have sold Distriplus (the direct owner of Di and Planet Parfum) to the French group for an undisclosed amount. However, the take-over will have a negative impact of no less than 8.5 million euro on the results of the second half, say Ackermans & van Haaren.
Things have not gone so well with Distriplus for some time: despite a recent make-over for the stores, the losses at Di in 2017 amounted to 2.2 million euro (gross) or 1.6 million (net) on a turnover of 110.5 million euro. At Planet Parfum, the net loss amounts to 6.3 million euro on a turnover of 100.4 million euro. As a group Distriplus suffered a loss of 23 million euros last year. This year Planet Parfum managed to grow slightly in the first half of the year, however, turnover continued to decline at Di.
Groupe J. Bogart is as a specialist in cosmetics: the family business has 157 own stores in France, Germany and Israel so far, and now adds about 200 Distriplus outlets in Belgium and Luxembourg to that. The stores of Di and Planet Parfum will be integrated in Groupe J. Bogart, which also wants to sell its own labels in thel. In the long term, therefore, changes may occur in the multi-brand formulas Di and Planet Parfum, not least in the product range.