L'Occitane International reports 8.7% jump in annual revenue
For the fiscal year ended 31 March 2019, cosmetics group L'Occitane International – owner of L'Occitane en Provence and Melvita, among others – reported revenues of 1.436 billion euros, representing an 8.7% increase in constant currencies. L'Occitane en Provence, the flagship brand of the Hong Kong Stock Exchange-listed company, achieved revenues of 1.247 billion euros, up 3.5% from the previous year.
At American self-care and cosmetics brand Limelife, in which L'Occitane international has held a 60% stake since January 2018, the group reported sales of 83.7 million euros, up 325.5%. This exponential growth is, however, the product of a favourable basis of comparison, as Limelife's results were not consolidated in the last quarter of the previous fiscal year. At L'Occitane International's other brands, namely Melvita, Erborian and L'Occitane au Brésil, sales totalled 95.5 million euros, an increase of 10.8%
By region, the company's growth was driven by strong progress of 31.8% in the US, where sales totalled 232.4 million euros, boosted by L'Occitane International's increased stake in Limelife. Sales in Russia, China and Brazil rose 12.2%, 12.1% and 11.1%, respectively, while in France, where sales came to 101.9 million euros, growth was significantly slower at 0.8%. The country currently accounts for 7.2% of the group's global sales, down from 7.7%.
As of 31 March 2019, L'Occitane International boasts 1,572 company-owned stores around the world, 86 of which are in France.
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