L’Occitane sales jump 17% to €2.1bn

Beauty retail group L’Occitane has revealed its net sales jumped 17% to €2.13bn (£ 1.85bn) in the 12 month period ended 31 March 2023.

The group’s sales performance in the three months ended 31 March 2023 (“FY23 Q4”) improved from that of the three months ended 31 December 2022 (“FY23 Q3”), growing 20.6% at constant rates.

L’Occitane en Provence returned to growth of 0.8% in FY23 Q4, thanks to the brand’s
“dynamic” travel retail channel and an improvement in sales momentum in China following the lifting of Covid-19 restrictions.

Meanwhile, Elemis returned to strong growth of 18.1% in FY23 Q4 and ended FY23 with 8.9% growth at constant rates. This was contributed by strong growth of 34.0% in the US in FY23 12M, mainly driven by its e-commerce and cruise ship businesses.

Finally, it revealed its Sol de Janeiro brand accelerated its sales momentum to become the group’s second largest brand with €267m (£233m) in sales in FY23 12M. Its growth of 267.5% in FY23 Q4 and 135.2% growth.

André Hoffmann, vice chairman and CEO of L’Occitane, said: “We saw a solid broad-based improvement in FY23 Q4, boosting our sales to exceed the €2bn mark in FY23.

“We are well-positioned to sustain growth in the coming year as we introduce our newer brands into new markets and channels. The ongoing success of our multi-brand strategy is becoming more apparent with Sol de Janeiro now our second-largest brand, less than 18 months since its acquisition.”

He added: “We also continued to make solid progress in the ESG space having
recently announced a roadmap for achieving a science-based net-zero target across all of our brands, with a focus on reaching 100% renewable electricity by 2025, reducing our greenhouse gas emissions by 2031 and achieving net-zero emissions by 2050.”