Douglas acquire Niche Beauty

All,

Douglas have agreed to acquire 51% of Niche Beauty, a curated online shop of internationally selected beauty products.

Douglas have not quoted a price, but the online shop last had a turnover of just under E10m and we hear that Douglas are paying a “single digit” sum for their 51%.

So in the scheme of things its a nice press release, but we are not worried for liquidity as a result of it.

Overall this is a step in the right direction.

Wolfgang