SELECTIVE RETAILING SUSTAINED GROWTH FOR SEPHORA; SALE OF ASSETS BY DFS
Sephora
Revenue €8,406m +5% vs H1 2025(1)
Profit from recurring operations €893m +2% vs H1 2025
Operating margin 10.6%
(1) With comparable structure and constant exchange rates.
Sephora
In Selective Retailing, organic revenue growth was 5% in the first half of 2026 and the margin continued to grow.
Sephora recorded sustained organic growth in its revenue. The Maison saw further market share gains in many countries, consolidating its global leadership position. It continued to enrich its unique selection of brands with a number of exclusive launches, including Rhode, which was a major success in North America and the United Kingdom. The retail network continued to expand, including successful market entries in Belgium and Croatia. Le Bon Marché once again posted revenue growth, driven by its differentiation strategy and its ever-unique slate of events. DFS sold its businesses in Greater China to China Tourism Group Duty Free; an agreement was also entered into to sell the Los Angeles and San Francisco airport concessions to Duty Free Americas, and to sell DFS Okinawa to Avolta.