L’Occitane group's sales jump by over 15% in fiscal 2021-22
The normalisation of the Covid-19 situation worldwide has greatly benefited cosmetics group L’Occitane, which recorded a 15.8% sales growth to reach €1.78 billion in the 2021-22 financial year, closed on March 31.
In the period in question, the group's operating income was €310.7 million, equivalent to a 43.3% increase, while net income was €295.8 million, up by 51.3%.
Sales for the group’s flagship brand, L’Occitane en Provence, were worth €1.38 billion, up from the €1.20 billion recorded a year earlier, benefiting from the lifting of Covid-related restrictions in Europe and the Americas region. Travel retail sales, especially in Asia, also contributed to the brand's growth. L’Occitane en Provence now accounts for 76.4% of the group's total sales.
British premium skincare brand Elemis, bought by L'Occitane in 2019, recorded instead a revenue of €226 million, well up from the €158 million it generated a year earlier, driven by renewed demand from spas, where Elemis is well-established.
US beauty brand Limelife was the only one in L'Occitane's portfolio to record a downturn, with sales worth €70.7 million, down from the €102.15 million generated the previous year. Limelife was impacted by difficulties in recruiting door-to-door salespeople in the USA, its main market.
The group's 'other brands' aggregation, which includes notably Melvita and Erborian, generated a revenue of €97.2 million, up by nearly 18%.
Finally, Sol de Janeiro, a brand founded in the USA in 2015 in which L'Occitane bought a majority stake in November 2021, contributed €26 million to the group's revenue.
China was the L’Occitane group's primary market, with sales worth €327.9 million, up by 24%. The USA was the second-largest market with a revenue of €251.7 million, ahead of Japan with €206 million, the latter posting a 4.2% downturn.
France accounted for 5.4% of the group's sales, and was the group's sixth-largest market with sales for €96 million, compared to €86.6 million a year earlier.
The L’Occitane group operates 3,068 stores worldwide, 1,490 of which are directly managed by the group.
Copyright © 2023 FashionNetwork.com All rights reserved.
