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L’Occitane sales lift 19 percent amid steady APAC growth, Greater China up double-digits at L’Occitane en Provence

L’Occitane International said sales grew 19.1 percent to EUR 2.54 billion for the year, driven by the strong performance of Sol de Janeiro and the steady performance of L’Occitane en Provence, particularly in China.

SEE ALSO: L’Occitane International goes private on USD 1.8 billion deal

By brand, L’Occitane en Provence underperformed compared to the formerly listed Hong Kong company’s other brands in terms of global sales growth, up 7 percent in constant exchange rates, despite double-digit sales growth in China.

U.S. skincare brand Sol de Janeiro continued to perform strongly, growing 167 percent in constant exchange rates, and delivering triple-digit growth across all geographies.  It is now the beauty company’s second-largest brand and the largest contributor to its profitability, with an operating margin of 23.6 percent.

Finally, Elemis sales for the brand in full-year 2024 were flat following marked sales declines in the UK and US in the fourth quarter. Despite the slower overall sales momentum, the British skincare brand saw double-digit growth in sales on social media channels, alongside KOL livestreaming via Douyin.

The group’s other brand category, including Grown Alchemist and Melvitas, grew 15 percent.

By region, Asia-Pacific region sales were up 6 percent, accounting to 35 percent of total annual sales. The Americas, the company’s largest market, surged 63 percent, while while the Europe, Middle East and Africa region rose 4 percent annually.

During the year, the company concluded the evolution of its leadership. Effective April 1 Laurent Marteau, former managing director, succeeded André Hoffmann as the company’s CEO. Hoffmann will remain an executive director and member of the board.

“I would like to sincerely thank Mr. Hoffmann for his valuable contribution during his tenure as CEO, steering the company towards its strategic objectives, including geographical expansion and the successful acquisition of new brands. I look forward to continuing to work with him, the board and every one of our team members to accelerate and deliver on the Company’s transformation and growth,” said Laurent Marteau, executive director and chief executive officer of L’Occitane International.

“Looking ahead, we remain cautiously optimistic about our performance in FY2025. However, the company’s additional investments in marketing, IT and supply infrastructure and people and planet investments will continue to weigh on our profit margins in the months and years ahead. These investments remain necessary for each of our brands to grow as competition in the global skincare and cosmetics industry intensifies.”

The earnings update comes two months after L’Occitane International announced major stakeholder Reinold Geiger has decided to take the Hong Kong-listed company private, in a multi-billion dollar deal.