Boosted by the worldwide shift to self-care and pampering, L’Occitane has posted outstanding results for its FY2022.
The French prestige chain enjoyed a 15.8 per cent increase in net global sales to 1.784 billion euros ($2.725 billion).
Net profit also surged 57. 5 per cent to a record-breaking 241.9 million euros ($369.57 million).
The company’s core L’Occitane en Provence brand was responsible for the bulk of sales for the financial year, with net sales climbing to 1.360 billion euros ($2.078 billion).
Elemis, the British prestige skincare brand acquired by L’Occitane in 2019 for US$900 million, showed its worth with net sales of 226.31 million euros ($345.8 million) – up from 158.91 million euros ($242.76 million) on the previous fiscal year.
LimeLife by Alcone, the US makeup and skincare brand owned by L’Occitane, suffered a decline due to a global slump in makeup sales. Net sales for FY2022 reached 70.73 million euros ($108.06 million) by contrast to 102.15 million euros ($156.09 million) a year earlier.
L’Occitane acquired an 83 per cent stake in Sol de Janeiro, the Brazilian-inspired US beauty brand, in late 2021, valuing the company at US$450 million. Net sales for its first year with its new parent company reached 26.08 million euros ($39.8 million).
Following on from this benchmark performance, L’Occitane expects to surpass the 2 billion euros ($3.055 billion) global sales mark in 2023.
We are proud to report a set of impressive financial results, says Andre Hoffmann, vice-chairman and CEO of L’Occitane. “An excellent outcome that once again demonstrates the resilience of the Group’s brands and teams, as well as our ability to withstand and overcome market turbulence.”
Read the current issue of our digital magazine below:
- For more news and updates, subscribe to our weekly newsletter
- Follow us on Instagram
- Like us on Facebook
- Connect with us on LinkedIn
- Subscribe to our print magazine