Home Entertainment At Italmobiliare (Pesenti) 100% of the Santa Maria Novella workshop

At Italmobiliare (Pesenti) 100% of the Santa Maria Novella workshop

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Also the last 20% of the capital of Perfume Workshop Santa Maria Novella, the Florentine brand of beauty, home fragrances and liqueurs derived from the recipes of the Dominican friars (who founded the pharmaceutical workshop in 1221) which in the last twenty years has become an international symbol of glamor and quality.

Total investment of 200 million

Italmobiliare paid another 40 million euros to the former owner Eugenio Alphandery, thus bringing the total outlay for 100% of the company to 200 million euros, and closing one of the most important Italian operations in the world of cosmetics and fragrances.

“The purchase allows Italmobiliare to operate with greater strategic flexibility in the company’s development path and to accelerate the international expansion of an iconic brand, according to the guidelines drawn up with the launch of the project at the beginning of 2020”, he says. a press release. The arrival of the pandemic temporarily froze the growth of Officina Profumo Santa Maria Novella (31.5 million in 2019 revenues with an ebitda of over 12 million, equal to 40%, and a net cash position of 19 million), which in the first half of this year started the recovery. The first six months of 2021 closed with revenues of € 12.1 million (+ 15.5%), EBITDA of € 3.8 million (+ 37.2%) and a positive net financial position of € 16.1 million. euro (which takes into account the sale, last May, of the subsidiary San Carlo spa active in bottled water for 1.8 million to Eugenio Alphandery).

Post-pandemic recovery

The recovery in sales is driven by the wholesale channel, driven by the Asia-Pacific market, and by e-commerce, while direct retail still suffers and in particular the store in Florence (located in the complex of the Basilica of Santa Maria Novella), a treasure chest of charm with frescoed rooms, library and museum, a privileged destination for international tourists who have shrunk as a result of the pandemic. The results of the American stores were positive in the first half (+ 67% sales).

Waiting for Christmas (and the tourists)

Now the goal of the company – which produces everything in Florence and has about a hundred employees between the factory and shops around the world – is to accelerate, driven by the Christmas period, which is one of those with the highest sales, and by the recovery of international tourism. On 1 July, Officina Profumo completed the acquisition of 100% of the British distributor Farmacia Ltd, sole proprietor in the United Kingdom, for 1.9 million euros.

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