Spanish retailer DIA is considering selling its Clarel perfume stores, which have nearly 1,000 locations. Although no official decision has been made, a spokesperson for DIA confirmed the possibility. Reports from El Confidencial, citing anonymous sources, initially brought attention to DIA’s contemplation of selling the Clarel brand. In response, the DIA spokesperson stated that the company continually evaluates investment and divestment opportunities, without confirming any specifics.

This news follows DIA’s recent agreement to sell 235 stores to Auchan, a privately-owned French retailer. However, the details of this deal have not been disclosed. El Confidencial also reported that DIA has engaged the services of local investment bank Arcano, although the bank has not commented on the matter.

Luxembourg-based fund LetterOne, in which Russian tycoon Mikhail Fridman holds a significant stake, owns approximately 78% of DIA. LetterOne previously rescued DIA from potential insolvency in 2019 when the retailer’s market value plummeted by 90% due to intense competition.

DIA’s potential sale of its Clarel stores is a clear indication of the company’s ongoing efforts to assess its business and explore investment and divestment opportunities. In the constantly evolving retail landscape, retailers must adapt their strategies to remain competitive and meet the changing demands of consumers.

Links:
Reuters: DIA news
El Confidencial: DIA’s potential sale of Clarel (in spanish)