Revenue €17,885m +25% vs 2022(1)
Profit from recurring operations €1,391m +76% vs 2022
Operating margin 7.8%
(1) With comparable structure and constant exchange rates.
The Selective Retailing business group posted organic revenue growth of 25% in 2023. Profit from recurring operations was up 76%.
Sephora achieved another historic year, both in terms of sales and profit, continuing to gain market share through its distinctive, innovative range of products and services. Momentum was particularly strong in North America, Europe and the Middle East. The expansion of its store network continued, with the highly successful opening of its first two stores in the United Kingdom and the thriving collaboration with Kohl’s in the United States. Another major event during the year was the reopening of its Champs-Élysées flagship store in Paris, whose renovation reflected Sephora’s sustainability strategy, aimed at reducing the energy consumption of its sales floor area by 50%. DFS benefited from the gradual recovery in international travel and, in particular, from the return of tourists to flagship destinations Hong Kong and Macao. The Maison announced its plans to open a new Galleria on the island of Hainan in China by 2026. Le Bon Marché, which is growing steadily, continued to develop innovative concepts and benefit from a loyal French customer base as well as the return of international travelers.