As more leading markets opened up after Covid-19 lockdowns, L’Occitane’s sales in Europe and Asia rebounded strongly.
The group reported an 11.4 per cent growth in net sales in its Q2 2022 to 387.88 million euros (AUD$596.9 million) – an impressive 7 per cent above pre-pandemic levels.
The core L’Occitane en Provence brand enjoyed a 12.7 per cent uptick over the period to 297.78 million euros (AUD$458.27 million). But the bullet performer was Elemis – up 46.9 per cent – to 52.604 million euros (AUD$80.96 million).
Nearly all major markets enjoyed strong growth in the three months to September 30th, led by Brazil (+81.3%), Hong Kong (+64.2%), Russia (+45.2%) and China (+23.29%).
Andre Hoffmann took on the role of L’Occitane’s CEO in September. “As consumers around the world re-discover the joy of in-store shopping, the fact that we saw nice double-digit growth in online sales in the second quarter once again illustrates the robustness of our omnichannel distribution strategy. We will continue to target our investments in a way that fully leverages the unique appeal of our different brands as we head into the holiday season with enthusiasm.”
Fragrance sales plunged during the Covid-19 pandemic, but a turnaround is in full swing.
Inter Parfums, the maker of Montblanc, Jimmy Choo, Coach, Guess, Salvatore Ferragamo, Kate Spade and Lanvin fragrances, has posted a 64 per cent sales surge for its Q3 to US$262.7 million – an increase of 37 per cent over the same period in 2019.
All of the companies major brands outperformed the market with sales in Europe spiking 43.5 per cent to US$206.1 million and US revenues surging 18.9 per cent to US$56.6 million.
Buoyed by these outstanding results, Inter Parfums has revised its full year guidance, estimating 2021 global sales to reach a record-breaking US$801 million.