The scent of profit: Douglas perfumeries report first profit in Romania after market entry

The Douglas perfume stores chain in Romania managed to post a profit last year, for the first time since their entry on the local market in 2007. The company, under the name of Parfumeriile Douglas, made a profit of EUR 210,000 last year, after posting losses of more than EUR 300,000 a year both in 2009 and 2008.

Romanians seemed to dig the perfumes and cosmetics sold by Douglas, as its revenues increased even though the shoppers' budgets have been reported to hit a downwards trend. Douglas' revenues reached EUR 7.4 million in 2010 in Romania, up compared to EUR 5.9 million in revenue in 2009. The company runs 8 stores in Romania and has 56 employees. It opened the first store in Romania in 2007, in Targu Mures, followed by the entry on the Bucharest market in 2008, in Baneasa Shopping City. It now has four stores in Bucharest, one of which downtown Bucharest in Unirea Shopping Center and has added one store in each of the cities of Constanta, Oradea, Baia Mare and Sibiu. The Douglas perfume shops are part of German Douglas Group, which runs several brands on various markets. Corina Saceanu, corina@romania-insider.com (photo source: Douglas Group)