FRANKFURT, June 25 German retailer Douglas said
it was making up to 500 million euros ($655 million) available
to its perfumeries business as part of plans to grow
Douglas, taken private by the Kreke family that run the
group and private equity firm Advent International, said the
group would invest in acquisitions both at home and abroad, open
new stores and modernise existing ones.
It has recently been reported that Douglas is interested in
buying French chain Nocibe, a deal which would make the German
group the second biggest perfume chain in France behind
Manfred Kroneder, the head of the group's perfumery
division, declined to comment on the reports.
"We do want to grow via targeted acquisitions, but we are
not in a position to comment," he told reporters at the Douglas
store on Frankfurt's busiest shopping streets.
($1 = 0.7637 euros)
(Reporting by Victoria Bryan; Editing by Christoph Steitz)