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ProSieben seeks buyer for online beauty products unit Flaconi - source

BERLIN, Feb 15 (Reuters) - ProSiebenSat.1 Media is seeking a buyer for its online beauty retailer Flaconi, a source familiar with the matter said on Monday, as Chief Executive Rainer Beaujean seeks to streamline the German broadcasting group.

Potential buyers include German fashion e-tailer Zalando , perfumery store chain Douglas and French luxury goods group LVMH’s Sephora, added the source, who requested anonymity due to the sensitivity of the matter.

A sale process is just beginning, the source said, after Manager Magazine reported that Zalando had expressed an interest in buying Flaconi. ProSieben flagged Flaconi as a sale candidate last September.

Restructuring specialist Beaujean, in the job for just under a year, has put ProSieben’s entire array of e-commerce investments under the microscope to see whether they fit with its core broadcasting mission.

He sold online drugstore Windstar Medical last autumn for 280 million euros ($339 million) and has stated his intention to float dating platform Parship next year.

Flaconi reported revenue of around 300 million euros last year, achieving top-line growth of 50% and turning a profit, according to the source, who also said ProSieben hoped to agree a sale in the second quarter.

Zalando and Douglas declined to comment, while Sephora could not immediately be reached for comment.

ProSieben took a major hit to its core advertising revenue in the early stages of the coronavirus pandemic, but a recovery towards the end of 2020 helped it report better-than-expected preliminary results.

The company, in which Italian broadcaster owns a 12.4% direct stake, is due to report full results in early March. ($1 = 0.8249 euros) (Reporting by Douglas Busvine; additional reporting by Klaus Lauer, Nadine Schimroszik and Matthias Inverardi; editing by Hans Seidenstuecker and Kirsten Donovan)

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