L’Occitane posts strong sales growth of 29.3%
L’Occitane International has posted an increase in half year sales and profits after achieving growth across all three of its major brands.
Net sales climbed by 29.3% to €900.5 million in the six months to 30 September with the main contributions coming from Sol de Janeiro, Elemis and L’Occitane en Provence. The group said overall sales further diversified away from the core L’Occitane en Provence brand in the period with Elemis and Sol de Janeiro now each accounting for more than 10% of net sales.
The group also delivered a second consecutive year of record interim net profit with an uplift of 5.4% to €£63.9 million.
Meanwhile retail sales rose by 4.4% at constant rates despite the group trading with 121 fewer stores compared to the same period last year. Within L’Occitane en Provence, travel retail channels rebounded stronger and earlier than planned.
Online sales also continued to grow with the online sales mix standing at 29.4%.
André Hoffmann, vice-chairman and chief executive of L’Occitane, said: “Despite the challenging environment, the proven resilience of our business ensured that we continued to maintain strong growth momentum and achieve another record interim profit.“Although current macroeconomic headwinds are likely to continue and lead to cost ramifications in all parts of our business, we are highly focused on executing a strong holiday season.
“In line with our corporate mission, we have a clear and collective focus on the triple bottom-line – our people, the planet and profitability – and remain committed to harnessing the inherent strengths of our brands to deliver sustainable growth and profitability.”
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