L’Occitane sales top the €2.5 billion mark

For its 2023/24 financial year ended March 31, cosmetics group L’Occitane recorded sales of €2.5 billion, up 24.1% at constant exchange rates. The group’s performance was boosted by that of American skincare brand Sol de Janeiro, while flagship brand L’Occitane en Provence remained stable.

Over the period, operating profit for the Group, which also includes the Melvita and Grown Alchemist brands in its portfolio, fell by 2.5% to 233.1 million euros. The Group explains this decline by an increase in marketing costs in its main markets.

By brand, L’Occitane en Provence posted sales of €1.38 billion, compared with €1.4 billion the previous year. Despite receiving most of the marketing budget to seize growth opportunities and maintain market share, L’Occitane en Provence underperformed in terms of growth and profitability. However, these investments enabled growth of 2.7% at constant exchange rates, mainly thanks to double-digit sales growth in China.

With sales of €686 million, and growth of 167% at constant exchange rates, Sol de Janeiro continues on its successful path. The brand recorded triple-digit growth in all regions, driven in particular by the success of Bum Bum cream and the launch of perfume mists. Lastly, Elemis posted sales of €253 million, compared with €255 million a year earlier, while the division comprising the LimeLife, Melvita, Erborian, L’Occitane in Brazil and Grown Alchemist brands saw its sales rise by 14.7% to €686 million.

Sales in the Americas region rose by 63% to €1 billion. The region is now L’Occitane’s leading region in terms of sales, ahead of Asia-Pacific, where sales reached 884 million euros, compared with 896 million euros a year earlier. Sales in the Europe, Middle East and Africa region rose by 4% to €565 million.

On Monday April 29, the cosmetics group announced that its majority shareholder, Austrian billionaire Reinold Geiger, had announced his intention to acquire all the shares he did not already own.