L’Occitane, the renowned cosmetics group, has achieved a significant milestone by surpassing €2 billion in revenue for its financial year 2022/23. The company recorded a turnover of 2.13 billion euros, representing an impressive increase of 17.9%. The fourth quarter was especially remarkable, with sales reaching 524.5 million euros, a surge of 20.6%.

André Hoffmann, CEO of L’Occitane, expressed his satisfaction with the company’s performance, highlighting the solid improvement seen in the fourth quarter. He stated, “We are thrilled to have exceeded the €2 billion mark in sales for the fiscal year 2022/23. We are confident in our ability to sustain this growth by introducing new brands into new markets and distribution channels. Our multi-brand strategy has proven successful, with Sol de Janeiro emerging as our second largest brand within just 18 months of acquisition.”

Sol de Janeiro, a skincare brand based in the United States, was acquired by L’Occitane in November 2021 and has swiftly become a major player in the company’s portfolio. Over the past year, it has generated sales of 267 million euros.

L’Occitane en Provence, the flagship beauty brand of the group, experienced an overall sales increase of 2.3%, reaching 1.42 billion euros. The brand saw a recovery in the later part of the financial year, benefiting from the easing of health restrictions in China and the resurgence of travel retail.

The acquisition of the British skincare brand Elemis in 2019 has also proved successful for L’Occitane, with sales reaching €255.9 million, representing a growth of 13.1%. Other brands under the L’Occitane umbrella, including LimeLife, Melvita, Erborian, L’Occitane in Brazil, and Grown Alchemist, collectively contributed sales totaling €190.5 million, also experiencing growth of 13.1%.

The Asia Pacific region performed well, with sales reaching €896.2 million, a growth of 2.4%. Excluding China, the region saw impressive growth of 8%. However, it is the Americas that have been the primary driving force behind the group’s overall growth, with sales of €695 million and an astounding increase of 80.4%, largely fueled by Sol de Janeiro. Conversely, the Europe, Middle East, and Africa region witnessed a decline in sales of 1.1%, amounting to €543.4 million, mainly due to the suspension of business in Russia.

As of March 31, 2023, L’Occitane operated a total of 1,362 stores, compared to 1,490 stores the previous year, indicating the company’s evolving retail landscape. With its expanding brand presence and diverse product portfolio, the future looks promising for L’Occitane.

Useful links:
L’Occitane Official Website
Sol de Janeiro Official Website