Sales for Bogart up more than 20% in first nine months
In the first nine months of fiscal 2022, French beauty group Bogart recorded a revenue of €198.4 million, equivalent to a 22.7% increase. Growth in the period was 5.7% on a comparable basis and at constant exchange rates.
In the period, Bogart’s fragrances and cosmetics division, which includes the Jacques Bogart and Méthode Jeanne Piaubert brands, generated a revenue of €37.1 million, a 34.9% rise over the €27.5 million recorded a year earlier (and a 30.9% one at constant exchange rates).
“Business remained buoyant in the third quarter in Western Europe, North America and the Middle East, while the Russia and Eastern Europe regions continue to be severely hampered by the current issues,” said Bogart in a press release for financial analysts.
The Bogart beauty retail division, which includes selective perfumery retailer April, has continued to benefit from the expansion of its store network. The division incorporated 38 Nocibé perfumeries in France and 70 stores operated by the Fann perfumery chain in Slovakia. In the first nine months of the year, the division's revenue was €161.3 million, equivalent to a 20.2% rise. However, on a comparable basis and at constant exchange rates, growth stood at 0.6%.
The Bogart group, having benefited from external growth factors, remains prudent about its Q4 outlook. All the more so since, in Q3, organic sales generated by its retail network were down by 6%.
Nevertheless, Bogart underlined that “the quarter usually has a greater incidence in terms of revenue and profitability for the Bogart beauty retail division, given the year-end festivities and the new launches planned by its flagship brands.”
Bogart is in the process of launching new fragrances for its leading brands Carven, Jacques Bogart and Ted Lapidus, which are expected to contribute to the growth of the Fragrances and Cosmetics division in Q4.
Copyright © 2023 FashionNetwork.com All rights reserved.