maconda supports Sylphar in its investment in Del Decus, a young e-commerce provider of natural cosmetics under the Satin Naturel brand
maconda News May 2022
The team at the Cologne-based consulting boutique maconda advised the Belgian company Sylphar International on its investment in Del Decus, a young company for natural face and body care. Sylphar, in which the Scandinavian financial investor EQT has held a stake since 2022, has developed into a leading omnichannel provider in the health and cosmetics business with its portfolio of strategic niche markets. maconda’s consultants, who have many years of experience in the beauty industry and e-commerce, evaluated the branding, sales channels, e-commerce performance, and growth drivers of Satin Naturel, Del Decus’s main brand, in a focused Commercial Due Diligence.
Del Decus is a high-growth start-up that markets face and body care products based on natural ingredients such as aloe vera and hyaluronic acid under the Satin Naturel brand. Sales are primarily conducted via Amazon FBA in several European countries, where the brand holds a leading position in the relevant product categories.
Performance on Amazon was therefore a key focus of the CDD. Using specialized tools, the highly experienced e-commerce team at maconda examined the development of the relevant product categories on Amazon as well as the search behavior of potential buyers. In addition, performance was analyzed in comparison to the competition, including reviews and product rankings.
The company’s own online shop and teleshopping are further relevant sales channels with potential, which is why the experts also examined their success potential – including marketing spend, ROI, branding, and pricing. Regarding customers, differences between Amazon and online shop buyers were identified, and buyer cohorts were analyzed in detail with respect to KPIs such as the number and value of orders and customer lifetime value.
As is always the case with CDDs, the market and competition were important here, not just online, but in general. On the one hand, maconda forecasted the future development of the market for near-natural and natural cosmetics, including all current trends and drivers. On the other hand, the Satin Naturel brand was positioned within the heterogeneous and competitive environment – ranging from widely available brands from established manufacturers to young start-ups with a D2C sales approach. This was supported by structured comparisons of online and Amazon offerings, several retail shelf checks, and interviews with market experts. The work was rounded off by deriving potential operational and market-side synergies with the new owner’s organization and identifying ideas and initiatives for further growth.
About Del Decus
Del Decus is a young, fast-growing company specializing in the manufacture and distribution of high-quality, natural beauty and skincare products. Under the Del Decus umbrella are two individual brands, both targeting a specific audience: Satin Naturel and Elemental Care offer a sustainable skincare range made from natural ingredients. The products, positioned in the “affordable luxury” price segment, are sold via Amazon, the company’s own online shop, as well as through Rossmann and QVC.
About Sylphar
Sylphar International is a rapidly expanding brand company from Belgium with a digital focus. Sylphar brings together several niche markets, including cosmetic and medical skin care, oral care, and dietary supplements, and markets them primarily through digital channels. Karo Pharma, a Swedish specialist in over-the-counter branded products and prescription drugs, acquired a majority stake in Sylphar at the beginning of the year.
maconda continues to expand its expertise in the beauty industry and e-commerce
In recent years, the maconda team has dealt with various segments of the beauty industry on several occasions and led multiple projects to success. These included many Commercial Due Diligences, engagements for strategic realignment and business model optimization, and projects to improve operational performance.
Intensive industry experience: Natural cosmetics | Near-natural cosmetics | Conventional cosmetics | Face care | Color cosmetics | Body care | Nail care | Hair care | Caps & closures for personal care products | CMO/CDMO for liquids and aerosols | Dispensers | Sachets | Consumer goods of all kinds | Beauty under brand and private label | Beauty as promotional and listed goods | Amazon | e-commerce | Omnichannel | Perfumeries, department stores, pharmacies | Teleshopping | and much more