L’Occitane still driven by booming Sol de Janeiro in first nine months of fiscal 2023-24

Cosmetics group L’Occitane, whose brand portfolio includes among others L’Occitane en Provence, Melvita and Sol de Janeiro, recorded sales worth €1.9 billion in the first nine months of its non-standard 2023-24 fiscal year, closed on December 3 2023. The result was equivalent to an 18.9% increase (and a 24.8% one at constant exchange rates).

Sol de Janeiro continued to drive the group’s growth, having reached sales worth €474.4 million, compared to €145.1 million in the same period a year earlier. The brand grew by a whopping 184% (and by 199% at constant exchange rates), notably driven by the launch of products like the Delicia Drench Body Butter, and its companion fragranced mist.

Conversely, sales for the group’s flagship brand, L’Occitane en Provence, dropped by 2.6%, down to €1 billion (a 2.6% rise at constant exchange rates), chiefly owing to slumping sales in Europe and in the travel retail channel. Elemis instead grew by 8.4% to €196.8 million, while the aggregate revenue recorded by LimeLife, Grown Alchemist, Erborian and Melvita, the latter in the midst of an overhaul, was €156 million, equivalent to an 8% increase.  

The Americas were the group’s most successful commercial region, growing 59.5% to €795 million. A performance that was chiefly driven by Sol de Janeiro. Sales in the Asia-Pacific region instead fell by 1.2% to €679 million, though the region grew by 6.7% at constant exchange rates, led by China. The EMEA region posted only a moderate increase, growing 4% to €440 million.

L’Occitane’s distribution performance was spearheaded by the wholesale channel, which generated sales worth €714 million, up 39.9%, while direct retail sales fell by 1.4% to €582 million. Online sales were up by 21.6%, reaching €618 million.