2023-05-11 08:18:05
L’Occitane closes a record financial year. The French cosmetics company, which is listed on the Hong Kong Stock Exchange, has ended the 2022 financial year (period closed on March 31) exceeding the barrier of 2,000 million euros in sales.
The company’s revenues increased by 17.9% in the period, up to 2,134 million euros. “We are well positioned for sustainable growth in the coming years, in which we will introduce our brands into new markets and channels.”, André Hoffmann, vice president and CEO of the company, said in a statement.
One of those brands is the British Elemis, acquired by the group in 2019 and which has motivated the growth of L’Occitane’s sales in the year. The brand has been the one that has increased its income the most in the period, with a growth of 13.1%, up to 255.9 million euros.
The largest brand for the group, L’Occitane en Provence, has increased its turnover by 2.3% in the period, up to 1,421 million euros. Sol de Janeiro, for its part, closed the year with revenues of 267 million euros.
L’Occitane has ended the year with an increase of 80.4% in America
By country, America has been the market where L’Occitane has performed best, boosting its sales by 80.4%, up to 695 million euros, despite the fact that its subsidiary in the United States took advantage of the chapter 11 (equivalent to bankruptcy) in the period.
The region thus becomes the second most important for the groupsurpassing Europe, the Middle East and Africa (Emea), which has fallen to third position following the company cut its revenue by 1.1% in the period.
Asia Pacific, for its part, remains the largest market for the French company. In the region, L’Occitane has registered a turnover of 896.2 million euros, representing an increase of 2.4% compared to the previous year.
Own stores continue to be the largest distribution channel for the company, despite increasing their turnover by barely 0.2% in the period, up to 761.5 million euros. It is followed by the multi-brand, where L’Occitane has shot up its turnover by 59.6%, up to 715.6 million euros. On the other hand, sales through online, which in the previous year was the second largest channel for the company, stood at 657.6 million euros, 9.3% more.
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