L'Occitane exceeds the €2 billion mark for its 2022/23 financial year
For its financial year 2022/23, which ended on March 31, the cosmetics group L'Occitane recorded a turnover of 2.13 billion euros, up 17.9%. Growth was particularly strong in the fourth quarter, which closed with sales of 524.5 million euros, up 20.6%.
"We experienced a solid and broad-based improvement in the fourth quarter of fiscal year 2023, boosting our sales to over €2 billion. We are able to sustain this growth in the year ahead, particularly with the new brands we are introducing to new markets and distribution channels. The success of our multi-brand strategy is becoming increasingly evident with Sol de Janeiro, which is now our second largest brand, less than 18 months after its acquisition," says André Hoffmann, CEO of L'Occitane.
Indeed, Sol de Janeiro, the US skincare brand acquired by L'Occitane in November 2021, is now the second largest brand in the group's portfolio in terms of sales. Over the last twelve months, it has recorded sales of 267 million euros.
Over the whole of its financial year, L'Occitane en Provence's sales reached 1.42 billion euros, up 2.3%. The group's flagship beauty brand recovered at the end of the financial year, buoyed by the lifting of health restrictions in China and the momentum of travel retail.
Elemis, the British skincare brand acquired by L'Occitane in 2019, saw its sales reach €255.9 million, up 13.1%. The group's other brands, LimeLife, Melvita, Erborian, L'Occitane in Brazil and Grown Alchemist totalled sales of €190.5 million, up 13.1%.
Asia Pacific saw sales of €896.2 million, up 2.4%, excluding China, the region grew by 8%. However, with sales of €695 million, it is the Americas that is driving the group's growth. The region saw an 80.4% increase in sales thanks to Sol de Janeiro. Finally, the Europe, Middle East and Africa region saw a 1.1% decline in sales to €543.4 million, impacted by the suspension of business in Russia.
On March 31, 2023, the L'Occitane group had 1,362 stores, compared to 1,490 a year earlier.
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