THE WHAT? L’Occitane announced sales growth of 15.8 percent in the three months ended 30 June 2022, reaching reaching €416.0 million, with the Americas rising 55.5 percent, benefitting from new brands and markets reopening.
THE DETAILS The Group’s core brand, L’Occitane en Provence, continued to grow despite comparing with a strong base of 36.1 percent growth at constant rates in FY2022 Q1.
Geographically L’Occitane recorded sales growth in all regions, with the fastest-growing region being the Americas followed by EMEA, growing respectively by 55.5 percent and 10.3 percent at constant rates in FY2023 Q1. APAC – which remains the Group’s largest region – grew 1.2 percent at constant rates.
Of the sales channels within wholesale, travel retail was strong with most markets seeing a rebound in domestic and international travel. Retail saw an increase in footfall and tourist sales. The Group’s online channels decreased slightly by 2.5 percent at constant rates and remained at a high level of net sales at 29.5 percent.
THE WHY? According to L’Occitane the solid performance was driven by L’Occitane en Provence, Elemis and the inclusion of the new brands, Sol de Janeiro and Grown Alchemist.
André Hoffmann, Vice-Chairman & Chief Executive Officer of L’Occitane, said, “After a positive start to FY2023, we stay optimistic about reaching our growth targets this year despite the prevailing headwinds. It is particularly pleasing to see the continued strong growth of the newer brands in our portfolio, which will play an important role in driving the Group’s profitable growth.
“We are mindful of the increasingly volatile macroeconomic environment, including the impacts of inflation and the ongoing pandemic. However, I have full faith that our ongoing mitigation strategies and the proven resilience of our brands and teams will see us through these challenges.”
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