Interview Transcript

What synergies would you look to achieve in an acquisition like Limoni?

The most important synergy is in purchasing. Douglas became a very strong platform, and a very strong client for every brand. They effectively became the most important beauty customer in Italy for all of the brands. This is the most important synergy. After that, it’s the fact that you buy a presence across the country and a market position across Italy. But the purchasing synergy in terms of power of negotiation with the beauty brands is key.

Do you really have power over L’Oreal, Estee Lauder, these big powerful brands? Can you squeeze them then at the margin?

Yes, you do. Absolutely. Today, the brands cannot live without Douglas. It became far too important in the European market, so they cannot do anything to lead without Douglas because they represent a very high market share for any brand, especially in Italy. In Italy, since Douglas bought Limoni La Gardenia they became very important with the brands, in terms of negotiation.

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