The Rocher Group sells the Flormar make-up brand

The Rocher Group, owner of the Yves Rocher beauty chain, the Dr Pierre Ricaud and Sabon cosmetics brands and Petit Bateau, has signed a promise of sale with a consortium of three Turkish investors, Esas Private Equity, Tacirler Asset Management and Credia Partners, with a view to selling them the low-cost make-up brand Flormar.

Groupe Rocher acquired a majority stake in the Turkish company Flormar in 2012, before taking 100% control in 2021.

“Over the past three years, Flormar’s leadership on the Turkish market has been strengthened with a five-point gain in market share, consolidating its position as the number one make-up brand in Turkey, its historic market,” said Groupe Rocher in a statement.

In addition to its performance in Turkey, Flormar is said to have more than 1,750 shops worldwide. In addition, the business website Capital points out that Flormar “caused concern when the NGO Sherpa accused the group of not supporting the employees of its suppliers, in particular Kosan Kozmetik, which manufactured for Flormar.”

This announcement was made on May 22, just under a month before Flormar announced the sale of its factory in Ploërmel, Morbihan, to the American group Arcade Beauty.

These divestments are part of Groupe Rocher’s transformation, aimed in particular at tackling the erosion of its sales and changing consumer habits. This transformation will “free up room for manoeuvre with a view to investing in its future, particularly in Asia, a strategic region for its development, while respecting its financial commitments”, as the group points out.

Groupe Rocher, which has nine brands in its portfolio, posted sales of €2.2 billion in 2023.