Scented candles and hand creams are big business: last year, Rituals recorded both record sales and unprecedented profits. This year, the Dutch retailer will cross the threshold of a thousand stores.
It was already known that Rituals had exceeded the turnover milestone of one billion euros in 2021, rising 24 % last year to reach 1.1 billion euros. The annual accounts now show that the profit figures are also breaking records: the net profit amounted to 123 million euros, ebitda was as high as 227.5 million euros, according to Quote. And that despite the restrictive corona measures that the chain still had to endure in various markets last year.
Meanwhile, the cosmetics chain is active in 102 countries. The Benelux does remain the most important market, accounting for almost half of the turnover. After opening 96 stores last year, the chain now has a total of 910. If the retailer maintains this rate of expansion, by the end of this year it will have more than a thousand stores.
The financial statements also show that Rituals has bought out a group of minority shareholders for an amount of 462 million euro. However, founder and main shareholder Raymond Cloosterman does not want to disclose any details about this.