L'Occitane Group reports 'record' €241.9 million net profit

L'Occitane Group, owner of L’Occitane en Provence and Elemis, has released its financial results for the year ending 31 March 2022, revealing a 15.8% increase in net sales to £1.5 billion (€1.78 billion).

For FY22, L'Occitane Group also shared the following results:

• "Record" net profit up 57.5% to £208 million (€241.9 million).
• L’Occitane accounted for 76.8% of total sales.
• Elemis accounted for 12.5% of total sales.
• Sol de Janeiro accounted for 11% of overall growth in FY22.
• LimeLife posted a sales decline of 31.3% at constant rates.

L'Occitane Group attributed its results to "very strong" operational performance from L’Occitane, as well as the development of the group’s other brands, notably Elemis.

The group's UK net sales for FY22 increased by 27.9% to £170.2 million (€197.5 million), compared to FY2021. L'Occitane Group credits this rise to accelerated growth at Elemis upon the removal of restrictive measures in FY22 and rebounded retail sales at L’Occitane during the year.

The group's total number of retail locations decreased from 3,088 to 3,068 in the year, with 35 L’Occitane locations closing and 13 Elemis locations opening.

André Hoffmann, Vice-Chairman and CEO of L’Occitane Group, said: “We are proud to report a set of impressive financial results. At the same time, we are keeping a strong eye on the future, with the acquisition of two strong brands in FY22 that will accelerate our reach into new markets and appeal to younger consumers.

"Looking ahead to FY23, our management is hyper focused on delivering sustainable value to shareholders, even as the global economy faces uncertainties. Having passed the €1 billion sales mark in FY13, we expect to pass the €2 billion sales milestone in FY23 while retaining healthy profitability.”