The group’s flagship brand, L’Occitane en Provence, saw its sales increase by 6. 8%
The reduction in revenues to 239. 1 million euros attributed to the sale of L’Occitane’s Russian business and the consequent loss of shares in related companies in the country.
Impairments at two underperforming brands, Melvita and LimeLife, also contributed to lower earnings for the year.
The logo owner’s sales held up better, emerging 19. 8% to €2100 million in the face of rising global inflation and the ongoing cost-of-living crisis.
This was also supported through an “outstanding” functionality of Sol de Janeiro, which saw its sales grow by 135. 2% in 2023.
The Brazilian good looks logo benefited from increased sales of its Bum Bum Body Firmness oil and Rio Radiance scented mist.
Elemis also recorded an expansion of 8. 9% in 2023, supported by global functionality and visitor engagement.
Sales of the anti-aging logo in the UK declined slightly, after the logo made the strategic decision to reduce sales to some promotion-focused internet partners in order to maintain the value of the logo.
The group’s flagship brand, L’Occitane en Provence, also saw its sales grow by up to 6. 8% in the 2023 monetary year.
The Asia-Pacific market remained L’Occitane’s most productive operating region, accounting for 42% of net sales, despite COVID-19 restrictions in China, which created a challenging sales environment.
The Americas is the largest region at the moment with 32. 6% of net sales, while the Middle East contributes the remaining 25. 4%.
André Hoffmann, vice president and chief executive of L’Occitane, said the logo remains “cautiously optimistic” as 2024 approaches.
Despite the war in Ukraine and emerging interest rates affecting economies around the world, Hoffman expects double-digit sales expansion and “healthy profitability” in the new year.
This will be supported through particularly superior marketing investments for L’Occitane’s core brand, as well as the launch of Sol de Janeiro and Grown Alchemist in Asia.
“We are confident that these investments will not only allow us to capitalize on this year’s apparent opportunities with the slow pullback from overseas and a rebound in China, but will also fuel our progression as a multi-billion dollar multi-brand group. in the coming years,” he added.
This online page sells knowledge, such as cookies, to enable site functionality, aggregating analytics and personalization. By accessing this online page, you automatically agree to our use of cookies.