Bogart's revenue up 9.4% in 2016, driven by European expansion
In 2016 the French group Bogart, specialised in the design, production and distribution of cosmetics products, recorded a revenue of €104 million, up 9.4% over 2015 (+1.5% in like-for-like terms), driven by the expansion of its European network of directly owned stores.
Specifically, the distribution business, including fragrances (the group's own brands Bogart, Ted Lapidus and Carven, and licences for Chevignon, Lee Cooper and Naf Naf) and cosmetics (the group's own brands Méthode Jeanne Piaubert and Stendhal), generated a revenue of €42 million, up by 3.2 %. In a press release, Bogart underlined the "excellent performance" of its own brand and of Carven on the French market.
Bogart's retail business grew 14%, reaching €62 million, driven by the 23 new April stores bought in 2015, and by last December's acquisition of German group HC Parfümerie, which operates 80 directly owned stores plus another seven in franchising. "Our retail business in France consolidated its position within a sluggish market, while cosmetics retailer April was very successful in Israel, a profitable market for the group," said Bogart.
Including the proceeds from the licensing business, Bogart's total revenue reached €105.6 million, equivalent to an 8.3% increase. The licensing activity suffered a serious setback however, having lost 33.3% due to "the cancellation of a product line by a licensee."
For 2017, Bogart is relying on the boost provided by HC Parfümerie to "establish its position as a European distributor, accelerate its international growth and double the size of its network of directly owned stores."
The French group is present in over 90 countries, has a staff of 1,120 employees and generates 74% of its revenue abroad.
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