THE WHAT? L’Occitane Worldwide S.A. (0973.HK) introduced its monetary outcomes for the yr ending March 31, 2024. The corporate reported internet gross sales of €2,541.9 million, marking a 19.1% enhance from the earlier yr. Regardless of this progress, internet earnings declined by 18.6%, totaling €93.89 million, and working revenue fell by 2.5% year-over-year.
THE DETAILS The corporate attributed its robust gross sales momentum to the distinctive efficiency of Sol de Janeiro and regular progress from L’OCCITANE en Provence, particularly in China. Sol de Janeiro, with a notable 167% progress, has turn into the corporate’s second-largest model and important revenue contributor. L’OCCITANE en Provence noticed a modest progress of two.7%, primarily pushed by its success in China. In the meantime, ELEMIS targeted on premiumisation however confronted flat gross sales as a result of declines within the UK and US markets in This fall. The corporate’s omni-channel technique, notably the enlargement of on-line and wholesale channels, contributed considerably to its income.
THE WHY? L’Occitane’s strategic give attention to advertising investments, geographical enlargement, and model diversification underpinned its gross sales progress. The corporate’s dedication to sustainability was highlighted by attaining B Company certification and initiatives aimed toward lowering its carbon footprint and selling biodiversity. Management modifications, with Laurent Marteau stepping in as CEO and Samuel Antunes as CFO, are anticipated to drive the corporate’s future progress and transformation efforts. Trying ahead, L’Occitane plans to proceed investing in advertising, IT, and provide infrastructure to take care of its aggressive edge within the international skincare and cosmetics business.
