Hong Kong conglomerate CK Hutchison announced on Monday that it has entered into discussions over the potential sale of prestige beauty retailer Marionnaud. The talks are being held with David Konckier, the principal shareholder of the perfume and cosmetics group Bogart.
Exclusive talks
In its statement, CK Hutchison said it has initiated “the required information and consultation processes in connection with a contemplated change in ownership of Marionnaud.”
For its part, Groupe Bogart said its principal shareholder has, "in his personal capacity," entered into “an exclusive information and consultation process regarding the potential acquisition of Marionnaud Group.”
The Konckier family had already signalled its ambitions in the sector in April, when it announced plans to acquire German family-owned retailer Stadtparfümerie Pieper, which operates a network of 110 stores. That transaction was completed on July 1.
A struggling network
In France, Marionnaud generated revenue of approximately €536 million in 2024 — the most recent financial year available online — across a network of 377 stores.
Outside France, Marionnaud has operations in Austria, the Czech Republic, Hungary, Italy, Romania and Switzerland, bringing its total store network to approximately 700 locations.
Facing intense competition from players such as Sephora and Douglas-Nocibé, Marionnaud has nevertheless struggled to modernize its store network and maintain customer loyalty. Its share of the French market declined to around 12% in 2023, compared with approximately 40% for Sephora, while its customer base has continued to age. With smaller average store formats than its competitors and limited online traction, Marionnaud has found it increasingly difficult to attract younger female consumers, who are heavily influenced by social media trends and constantly seeking new experiences.
Nevertheless, CK Hutchison said it remains "confident in the strength of the Marionnaud brand and its future potential."
During the upcoming period of discussions, "Marionnaud will continue to operate as usual, with no changes to day-to-day operations, and with a continued focus on serving customers across its markets,” the group said. CK Hutchison generated revenue of approximately US$65 billion (HK$507 billion) in 2025.
For its part, Groupe Bogart, controlled by the prospective buyer, is built around two main divisions: its Fragrances & Cosmetics business, which includes brands such as Aholic, Carven, Jacques Bogart Paris, Méthode Jeanne Piaubert, Rose & Marius, Stendhal and Ted Lapidus; and its selective retail division, Bogart Beauty Retail, which operates around 450 perfumeries and drugstores across Europe and the Middle East.
