L’Occitane Q1 sales rise with boost from Elemis in UK
L'Occitane Group has reported a 20.2% increase in sales to £430 million (€502.2m) for the first quarter ending 30 June 2023, led by growth from Sol de Janeiro and Elemis.
For FY22, L'Occitane Group shared the following brand results:
- L'Occitane en Provence sales down 0.1% to £248 million (€290m).
- Sol de Janeiro sales up 165.4% to £96 million (€113m).
- Elemis sales up 20.2% to £41 million (€48.4m).
- Other sales up 13.6% to £43 million (€50.5m).
For regional performance, the Americas led the group’s growth at 54%. However, sales in EMEA increased 5.5% to £103 million (€119.9m), driven by "strong" growth from Elemis in the UK.
Wholesale increased 47.8%, helped by growth in wholesale chains and international distribution.
Online channels posted growth of 19.5%, driven by "strong" performance from Sol de Janeiro, whilst retail sales saw a decrease of 1.5%.
André Hoffmann, Vice-Chairman and CEO of L’Occitane Group, said: "It is pleasing to kick off the new financial year with double-digit growth that is being led by our newer brands, ELEMIS and Sol de Janeiro, who jointly contributed nearly a third of our sales this quarter in line with our multi-brand strategy.
"We are mindful of the lingering macroeconomic uncertainties, such as signs of a slower-than-expected recovery in China, persistent inflation in major markets and foreign currency exchange headwinds.
"Yet, we remain cautiously optimistic about our prospects in FY2024, supported by higher marketing investments in key markets and channels for the core brand and the continued development of our newer brands, including the recent entry of Sol de Janeiro and Grown Alchemist into APAC and global travel retail channels."