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Translated by
Cassidy STEPHENS
Published
Jan 19, 2023
Reading time
2 minutes
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Bogart could close 17 of its 67 April perfume stores in France

Translated by
Cassidy STEPHENS
Published
Jan 19, 2023

Facing a decline in activity and profitability of its network of French stores, the cosmetics group Bogart announced on Thursday, January 19 via a press release a "reorganisation project" for its April perfumery chain. The company will potentially close 17 of its 67 French outlets.


April store - Bogart


Presented to staff representatives on January 18, this reorganisation plan could lead to the loss of 50 jobs as part of a job protection plan.

"This project will be subject to a consultation procedure with the social and economic committee (CSE)", says the group, which in addition to the network of April stores, also owns and licenses nine perfume brands including Carven and Ted Lapidus as well as cosmetics brands Méthode Jeanne Piaubert and April.

Bogart says this situation has been caused by the general economic context such as the inflation or the drop in purchasing power but also by the integration of the new Nocibé stores in the structure. As a reminder, in July 2021, the group took over 41 Nocibé businesses in France through April SAS, its distribution subsidiary.

Bogart also says it has been "heavily impacted by the significant increase in energy prices" and will have to "bear the cost of rent linked to the administrative closures imposed on its stores (Covid-19 period)".

The independent group, which will publish its 2022 turnover on February 2, also stresses that this situation will impact its results, but it confirms "the prospect of an increase in its 2022 annual turnover without however reaching its Ebitda target and without this calling into question the group's fundamentals.

In the first nine months of its 2022 financial year, Bogart recorded a turnover of 198.4 million euros, up 22.7%. Growth over the period was 5.7% on a like-for-like basis.

The Bogart Beauty Retail division, which includes the selective perfumery chain April, benefited from the enlargement of its portfolio with the integration of 70 perfumeries of the Fann chain in Slovakia. Thus, over nine months, its turnover reached 161.3 million euros, up 20.2%. However, on a like-for-like basis, growth was 0.6%.

It should be noted that in the third quarter alone, in its retail network, its organic sales fell by 6%.


Fashion network with AFP
 

 

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