(Bloomberg) ? Douglas Holding AG, Europe's largest retailer of cosmetics and perfume, said Orbis Holdings Limited lowered its stake in the company to less than five percent.

Hamilton, Bermuda-based Orbis decreased its holding to 4.9 percent on February 2, Hagen, Germany-based Douglas said today in a statement published in German newspaper Boersen-Zeitung. Investors of publicly traded companies in Germany are required to disclose their holdings every time they exceed or fall below a five percent threshold.