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by tasteful updates ; an exclusive , elegant selection

of   products ; and an expansive program of exhibitions

all make Le Bon Marché truly unique and a treasure

trove for both local and international customers ,

offering art and performance alongside fashion ,

beauty and design .

STAYING PARTICULARLY AGILE

DFS has been a travel retail pioneer since the early

days of the air travel boom . With a major presence in

Asia and in the United States , DFS constantly updates

its T Galleria boutiques to anticipate what travelers

want according to their destinations and to continually

enhance their shopping experience . An agreement

was signed in January   2026 with China Tourism Group

Duty Free to acquire DFS ’ business in Greater China ,

in particular the Gallerias in Hong Kong and Macao .

With locations all around the world , our Selective

Retailing Maisons make sure that customers are the

number - one priority for their strategies and their staff .

Sephora , DFS and Le Bon Marché are all pioneers in

their fields and continue to innovate and imagine the

shopping experience of the future for their customers .

EVER MORE INNOVATIVE

AND PERSONALIZED EXPERIENCE

For over half a century , Sephora has been revolution -

izing the beauty industry , developing new in - store

services and hunting out rare finds to add to its unique

range of brands and products . Combining the best of

in - store and online shopping , Sephora ’ s omnichannel

beauty experience offers an interactive , personalized ,

seamless customer journey . Le Bon Marché is a depart -

ment store like no other : striking architecture enhanced

2025 REVENUE BY REGION

11 %

France

1

Japan

45

United States

19 %

Other markets

11

Asia excl Japan

13

Europe excl France

Reinventing

the customer experience

REMARKABLE PERFORMANCE

BY SEPHORA ; STABILIZATION FOR DFS

€ 18 , 348m

2025 REVENUE

€ 1 , 780m

2025 PROFIT FROM

RECURRING OPERATIONS

€ 516m

2025 OPERATING

INVESTMENTS

MAJOR

STRATEGIC

PRIORITIES

— Maintain Sephora ’ s innovative

momentum in stores and online

— Continue to cultivate a creative ,

exclusive selection at Le Bon Marché

and La Grande Épicerie de Paris

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