L’Occitane Group announced Laurent Marteau, the beauty group’s current managing director, has been appointed group chief executive officer, effective April 1.
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Marteau has over 20 years of experience in the global beauty industry. He worked for the LVMH Group in various senior management roles and countries for 15 years. He joined the La Prairie Group in 2014 as VP for global travel retail and special channels and became a member of the board of directors in the same year.
In 2020, he expanded his responsibilities and was made VP for Europe, the Americas, the Middle East and Africa. He joined the L’Occitane Group as managing director in 2022.
“As our Group grows, we need to evolve,’ said Reinold Geiger, chairman of the L’Occitane Group. ‘Laurent embodies the L’Occitane Group’s entrepreneurial mindset and deep commitment to people and nature. His in-depth knowledge of the global market, combined with an inclusive leadership style, makes him a strong CEO to bring together a multi-brand and multicultural group delivering value for all our stakeholders.”
The promotion forms part of the group’s streamlining of its leadership roles, with both CEO and group managing director roles becoming one position, as the company’s looks to become a “geographically balanced, multi-brand group,” according to a press release.
André Hoffmann, acting CEO, has decided to step down from this position. He will remain an executive director and member of the board of the L’Occitane Group and continue to focus on strategic, policy and leadership matters within the company.
Hoffmann has been acting as vice-chairman of the L’Occitane Group since 2016 and took on the role of group CEO in 2021. He will work alongside the group’s senior management team to help ensure a smooth transition.
“I want to thank André, my business partner of almost 30 years, for his leadership during his time as CEO,” said Geiger.
“In recent years he has led the company towards its strategic objectives, including its geographical expansion, and has been instrumental in the successful acquisition and integration of new brands such as Elemis, Sol de Janeiro and Grown Alchemist. He will continue to play a significant role in the group, supporting its strategic direction as executive director and member of the board.”
Last week, L’Occitane Group announced its acquisition of Italian luxury home fragrance brand Dr. Vranjes Firenze. Terms of the deal were not disclosed.
In its most recent trading update in November, the Hong Kong-listed group said during the six months ending September 30, it invested the largest portion of its marketing budget into French skincare brand L’Occitane en Provence, with a focus on key markets, notably China, as well as the U.S., Japan, South Korea and travel retail. As a result, core brand sales in China grew by 22 percent at constant rates, despite muted consumer confidence in the overall economy.