L’Occitane looks to Hong Kong for initial public offering

By Katie Bird

- Last updated on GMT

Related tags Hong kong Initial public offering

French cosmetics and bath products provider L’Occitane is preparing for its initial public offering on the Hong Kong stock exchange, according to press reports.

The company is based in the Provence region in southern France and its products use local ingredients such as lavender and olives.

L’Occitane’s uniquely French and luxury feel could explain some of its success in the Asian market, which accounts for just under half of the company’s sales.

Expansion of Asian operations

According to a report in the Financial Times the public offering on the Hong Kong exchange could raise up to $700m for the company, which would help expand its operations in the region.

“L'Occitane products are viewed in Asia as affordable luxury and a Hong Kong listing makes sense in the context of its China strategy, future growth plans and regional brand recognition,”​ said a person close to the company, quoted in the Financial Times.

This is not the first time the company has been rumoured to be targeting the Hong Kong stock exchange.

Back in July 2008 L’Occitane was said to be planning flotation in order to fuel expansion in the area but the action was never realised.

L’Occitane could not be contacted at the time of publication.

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