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L’Occitane Group acquires Italian luxury home fragrance brand

Beauty giant L’Occitane Group announced its acquisition of Italian luxury home fragrance brand Dr. Vranjes Firenze, as the French firm continues to slowly build a globally balanced portfolio of premium beauty and fragrance brands.

SEE ALSO: L’Occitane first-half revenues surge 19 percent as China investment pays off

Terms of the deal were not disclosed.

Created in 1983 by Dr. Paolo Vranjes, Dr. Vranjes Firenze is a Florentine brand that combines local artisanship with the innovation of fragrance science. Its range of scents are produced in-house and include home diffusers, scented candles and a growing line of personal fragrances.

Since its inception forty years ago, Dr. Vranjes Firenze has expanded into 75 countries with a retail network of 28 mono-brand stores and 650 points of sale.

“We are thrilled to continue to grow our global brand portfolio with the addition of Dr. Vranjes Firenze, which is complementary to our existing collection of premium beauty and fragrance brands, each with a strong identity and a genuine desire to make a difference,” said Reinold Geiger, chairman of the L’Occitane Group.

The completion of the transaction is expected at the end of the first quarter of 2024.

“Our brand has undergone meaningful growth while honouring the rich heritage of Dr. Vranjes Firenze,” said Paolo Vranjes, founder and chairman of Dr. Vranjes Firenze.

“It is with great pride that I hand over the legacy of Dr. Vranjes Firenze to the L’Occitane Group, which is known for its distinguished heritage and expansive global reach.”

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.

Its brand portfolio includes British skincare brand Elemis, U.S. skincare brand Sol de Janeiro, and Australian skincare brand Grown Alchemist, among others.