L’Occitane makes positive start to new financial year
L’Occitane, the beauty and wellbeing brand, has said it made a positive start to its new financial year with first quarter sales up 23.4% at reported rates to €416 million. At constant rates the uplift was 15.8%.
In the three months to 30 June, most markets in the brand’s biggest region, APAC, posted double-digit growth led by Hong Kong, Australia and Malaysia. In addition, sales in the Americas grew by 55.5% at constant rates, which L’Occitane attributed mainly to the inclusion of its recently acquired Sol de Janeiro brand and the continued reopening of markets.
Meanwhile, sales in the brand’s EMEA region rebounded in the quarter with an uplift of 10.3% at constant rates. The strongest contributions came from travel retail and distribution sales, as well as improved retail sales in France and Germany.
André Hoffmann, vice-chairman and chief executive 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.”
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