French beauty company Bogart has made its latest acquisition with the purchase of the Slovakian perfumery chain, Fann. This move is part of Bogart’s external growth strategy, which has seen them acquire other chains in Belgium, Luxembourg, and Germany, as well as Nocibé’s 38 perfumeries. The value of the Fann acquisition has not been disclosed and is still subject to approval from the competition authority.

Fann, established in 1993, is recognized as the leading selective perfumery chain in Slovakia. The company currently operates 70 perfumeries along with an e-shop and has a profitable track record. It is anticipated that these stores will be rebranded under Bogart’s April chain in the near future. With the addition of Fann, Bogart will now have a presence in seven countries, including France, Germany, Belgium, Luxembourg, Israel, and the United Arab Emirates. This latest acquisition brings the total number of Bogart stores to 413.

Bogart has set out its plan to consolidate its entire retail network under the April brand name, with the aim of establishing Europe’s fourth-largest selective perfumery chain. In the first half of 2021, Bogart reported revenue of €101.8 million, marking a 22.6% increase. The direct retail business, which includes the April chain, contributed €85 million to this revenue, showing a growth of 4.7%. Bogart’s expansion strategy and strong financial performance highlight its dedication to growth and its position as a significant player in the beauty industry.

Links:
1. Bogart Official Website
2. Fann Official Website