L’Occitane’s sales up by 9.5% in Q3
In Q3 of the non-standard fiscal year, closed on December 31 2021, cosmetics group L’Occitane generated sales worth €650 million, equivalent to a 9.5% increase year-on-year. Over the first nine months of the financial year, sales amounted to €1.37 billion, equivalent to a 14.2% growth.
The group’s flagship brand, L’Occitane en Provence, generated a revenue of €1.08 billion, up by 14.8%, accounting for 81.4% of the group’s total sales. But it was Elemis that accounted for the bulk of L’Occitane’s growth. The British premium skincare brand, bought by the group in 2019, posted in fact a 35.9% sales rise, reaching €163.1 million. Elemis’s results continue to be driven by the reopening of spas and retail outlets, but also by an increase in online sales, particularly in the UK and the USA.
By contrast, sales for L’Occitane-owned US beauty brand Limelife fell by 29.7%, down to €55.2 million, partly impacted by an unfavourable comparison basis. Online sales for Melvita, Erborian and L’Occitane en Provence amounted instead to €73.7 million, up by 21.7%.
“As we enter the final quarter of fiscal 2022, the strong performance of our key brands continues to drive our profitability. The addition of Sol de Janeiro [the US beauty brand in which L’Occitane acquired a majority stake in November 2021] to our portfolio will also have a positive impact on our results and will bolster growth in the short and medium term, while further accelerating our transformation into a multi-brand and geographically balanced group,” said André Hoffmann, CEO of L’Occitane.
In the first nine months of the year, L’Occitane’s sales in China increased by 18.5% to €248.7 million, while the USA generated a more modest 5.2% growth, up to €207.4 million. In France, the group’s sales amounted to €75.4 million, equivalent to an 11.1% rise. Also worth noting were the performances of Russia, Brazil and Hong Kong, which posted growth rates of 28.1%, 40.7% and 25.7% respectively.
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