European Health & Beauty Retailers 2008

Table of Contents

CHAPTER 1 EXECUTIVE SUMMARY

• Key Findings
• Main Conclusions

CHAPTER 2 EUROPEAN MARKET - ECONOMIC OVERVIEW

• Key Findings
• Main Messages
• GDP
• Consumer Expenditure
• Inflation
• Interest Rates
• Employment

CHAPTER 3 EUROPEAN MARKET - DEMOGRAPHIC OVERVIEW

• Key Findings
• Main Messages
• Trends
• Growth by Country
• Age Breakdown
• Consequences for Retailers
• Households
• Urban Population

CHAPTER 4 EUROPEAN MARKET - RETAIL SPENDING

• Expenditure
• Growth
• Per Capita
• Retail Share

CHAPTER 5 HEALTH & BEAUTY MARKET STRUCTURE

• Health & Beauty Market Definition
• Key Messages
• Expenditure
• Health & Beauty Specialists Definition
• Sales
• Space
• Stores

CHAPTER 6 HEALTH & BEAUTY MARKET IN CENTRAL & EASTERN EUROPE

• Health & Beauty Market Overview
• Outlook for Health & Beauty Retailing in CEE

CHAPTER 7 HEALTH & BEAUTY MARKET IN FRANCE

• Health & Beauty Market Overview
• Recent Developments & Trends
• Outlook for Health & Beauty Retailing in France

CHAPTER 8 HEALTH & BEAUTY MARKET IN GERMANY

• Health & Beauty Market Overview
• Leading Retailers
• Recent Developments & Trends
  • Remote Pharmacy
  • Other Recent Developments
• Outlook for Health & Beauty Retailing in Germany

CHAPTER 9 HEALTH & BEAUTY MARKET IN ITALY

• Health & Beauty Market Overview
• Recent Developments & Trends
• Outlook for Health & Beauty Retailing in Italy

CHAPTER 10 HEALTH & BEAUTY MARKET IN THE NETHERLANDS

• Health & Beauty Market Overview
• Recent Developments & Trends
• Outlook for Health & Beauty Retailing in the Netherlands

CHAPTER 11 HEALTH & BEAUTY MARKET IN SPAIN

• Health & Beauty Market Overview
• Recent Developments & Trends
• Outlook for Health & Beauty Retailing in Spain

CHAPTER 12 HEALTH & BEAUTY MARKET IN THE UK

• Health & Beauty Market Overview
• Recent Developments & Trends
• Outlook for Health & Beauty Retailing in the UK

CHAPTER 13 STRATEGIC ISSUES

• Where EU Growth Lies
  • Growing Competition Threatens Smaller Specialists
  • Changing the Proposition
  • Consumers Set to Win
• An ageing population
  • Ethnicity
• CEE New Battleground
  • Economic Attraction
  • Specialists Play Field
  • Non-specialists Change Landscape
  • Smaller Specialists Lose Out
  • Majors Focus on Smaller Urban Catchments
• Pharmacy Deregulation
  • Progress To Date
  • Impact on Pharmacies
  • Impact on Health & Beauty Retailers
  • UK Leads
  • Degrees of Change to Vary
  • Route to Market
  • Retailers at Forefront
  • Majors Wait to Pounce on Liberalised Markets
• Grocers Raise Bar for Specialists
  • Grocers Increase Participation in Market
  • Grocers Drive Market Share Gains
  • If Grocers Gain, Who Loses?
• Key Drivers of Online Health & Beauty Growth
  • Internet Penetration Rises
  • Consumers More Confident About Buying Online
  • Mail Order Pharmacy
  • Add-on Purchases
  • Niche Products and Wider Choice
  • Information Benefit
  • Online Shopping Experience Improves
  • Impact on Traditional Channels
• Premium Outperforms
  • Luxury Market Size and Performance
  • High End Drivers
  • Premium a Key Opportunity
  • Polarisation
  • Emerging Markets Will Catch Up

CHAPTER 14 COMPANY COMPARISONS

• Overview

CHAPTER 15 ALLIANCE BOOTS

• Company Overview
• Recent Key Developments
• Sales Performance Prior to Merger
• Sales Performance Post-Merger
  • Year to March 2008
  • Health & Beauty division
• Store Portfolio
• Benchmarks
• Outlook

CHAPTER 16 AS WATSON

• Company Overview
• Recent Key Developments
• Sales Performance
  • Year to December 2007
• Store Portfolio
• Benchmarks
• Outlook

CHAPTER 17 DM-DROGERIE MARKT

• Company Overview
• Recent Key Developments
• Sales Performance
  • Year to September 2007
  • Current Trading
• Store Portfolio
• Benchmarks
• Outlook

CHAPTER 18 DOUGLAS HOLDING

• Company Overview
• Recent Key Developments
• Sales Performance
  • Six Months to March 2008
• Store Portfolio
• Benchmarks
• Outlook

CHAPTER 19 ROSSMANN

• Company Overview
• Recent Key Developments
• Sales Performance
  • Current Trading
• Store Portfolio
• Benchmarks
• Outlook

CHAPTER 20 SCHLECKER

• Company Overview
• Recent Key Developments
• Sales Performance
• Store Portfolio
• Benchmarks
• Outlook

CHAPTER 21 GLOSSARY

• Definitions
• Abbreviations & Definitions
• LIST OF TABLES
  • Table 1: Consequences of population change for retailers 2008-2018
  • Table 2: EU Top Six retail expenditure 2002-2007e
  • Table 3: EU Top Six retail expenditure growth 2002-2007
  • Table 4: EU retail expenditure (€30.0bn+) 2002-2007e
  • Table 5: EU retail expenditure (€30.0bn+) growth 2002-2007e
  • Table 6: EU retail expenditure (€30.0bn-) 2002-2007e
  • Table 7: EU retail expenditure (€30.0bn-) growth 2002-2007e
  • Table 8: EU27 health & beauty market definition 2008
  • Table 9: EU27 health & beauty market overview 2002 & 2007e
  • Table 10: EU15 health & beauty market overview 2002 & 2007e
  • Table 11: EU health & beauty market expenditure 2002-2007e
  • Table 12: EU health & beauty expenditure growth rates 2002-2007e
  • Table 13: EU health & beauty expenditure by country 2002-07e
  • Table 14: % share of EU expenditure on health & beauty by country 2002 & 2007e
  • Table 15: Specialist health & beauty retailer revenues in EU 2002-2007e
  • Table 16: EU health & beauty specialist revenue growth rates 2002-2007e
  • Table 17: EU health & beauty specialist revenues by country 2002-2007e
  • Table 18: % share of EU health & beauty specialist revenues by country 2002 & 2007e
  • Table 19: EU health & beauty specialists selling space (000 sq m) estimates by country 2002-2007e
  • Table 20: % share of EU health & beauty specialists selling space total by country 2002 & 2007e
  • Table 21: EU health & beauty specialists store numbers estimates by country 2002-2007e
  • Table 22: % share of EU health & beauty specialists store numbers total by country 2002 & 2007e
  • Table 23: CEE health & beauty expenditure 2002-2007e
  • Table 24: CEE health & beauty specialists 2002-2007e
  • Table 25: France health & beauty expenditure 2002-2007e
  • Table 26: France health & beauty specialists 2002-2007e
  • Table 27: German health & beauty expenditure 2002-2007e
  • Table 28: German health & beauty specialists 2002-2007e
  • Table 29: Italy health & beauty expenditure 2002-2007e
  • Table 30: Italy health & beauty specialists 2002-2007e
  • Table 31: Netherlands health & beauty expenditure 2002-2007e
  • Table 32: Netherlands health & beauty specialists 2002-2007e
  • Table 33: Spanish health & beauty expenditure 2002-2007e
  • Table 34: Spanish health & beauty specialists 2002-2007e
  • Table 35: UK health & beauty expenditure 2002-2007e
  • Table 36: UK health & beauty specialists 2002-2007e
  • Table 37: Niche health & beauty retailers - summary 2008
  • Table 38: Major health & beauty retailer presence in Europe by country 2007
  • Table 39: International operations: major grocer presence in Europe by country 2007
  • Table 40: Leading European health & beauty retailers estimated EU sales 2007/08
  • Table 41: Alliance Boots company overview 2008
  • Table 42: Alliance Pharmacy trading record (£) 2001-2005
  • Table 43: Alliance Pharmacy trading record (€) 2001-2005
  • Table 44: Boots trading record (£) 2002-2006
  • Table 45: Boots trading record (€) 2002-2006
  • Table 46: Alliance Boots health & beauty division - trading record (£) 2007-2008
  • Table 47: Alliance Boots health & beauty division - trading record (€) 2007-2008
  • Table 48: Alliance Boots health & beauty division, revenues by country (£) 2006/07-2007/08
  • Table 49: Alliance Boots health & beauty division, revenues by country (€) 2006/07-2007/08
  • Table 50: Alliance Boots store portfolio March 2007
  • Table 51: Alliance Boots store portfolio March 2008
  • Table 52: Alliance Boots EU benchmarks year ended March 2007e and 2008e
  • Table 53: AS Watson company overview 2008
  • Table 54: AS Watson trading record 2002-2007e
  • Table 55: AS Watson European trading record 2002-2007e
  • Table 56: AS Watson estimated European store numbers and space December 2007
  • Table 57: AS Watson EU Health & beauty and luxury Perfumeries & Cosmetics divisions year ended December 2006e and 2007e
  • Table 58: dm-drogerie markt company overview 2008
  • Table 59: dm-drogerie markt trading record 2004-2007
  • Table 60: dm-drogerie markt store portfolio 2005-2007
  • Table 61: dm-drogerie store portfolio by country September 2007
  • Table 62: dm-drogerie health & beauty private label offer 2008
  • Table 63: dm-drogerie markt EU benchmarks years ended September 2006e and 2007e
  • Table 64: Douglas Holding company overview 2008
  • Table 65: Douglas Group trading record 2002-2007
  • Table 66: Douglas Group perfumeries trading record 2002-2007
  • Table 67: Douglas Group turnover by business segment 2006-2007
  • Table 68: Douglas Perfumeries sales split 2006/07
  • Table 69: Douglas Group store portfolio 2006-2007
  • Table 70: Douglas Perfumeries store portfolio 2006-2007
  • Table 71: Douglas Group selling space 2006-2007
  • Table 72: Douglas Perfumeries store and space 2006/07
  • Table 73: Douglas Group benchmarks years to September 2006 & 2007
  • Table 74: Rossmann company overview 2008
  • Table 75: Rossmann trading record 2002-2007e
  • Table 76: Rossmann store portfolio 2002-2007e
  • Table 77: Rossmann EU benchmarks year ended 2006 and 2007
  • Table 78: Schlecker company overview 2008
  • Table 79: Schlecker trading record 2004-2007
  • Table 80: Schlecker store portfolio by country 2008
  • Table 81: Schlecker EU benchmarks years to December 2006 and 2007e
  • Table 82: EU27 health & beauty market definition 2008
  • Table 83: Conversion rates used for company financials, 2001-2007
• LIST OF FIGURES
  • Figure 1: GDP: Top 10 countries in European Union 2007
  • Figure 2: GDP growth forecast of Top 10 EU countries 2008 & 2009e
  • Figure 3: GDP: Other 17 countries in European Union (€100bn+) 2007
  • Figure 4: GDP growth forecast of other 17 European Union countries (€100bn+) 2008 & 2009
  • Figure 5: GDP: Other 17 countries in European Union (€100bn-) 2007