L’Occitane third quarter results: net sales up 3%

By Lucy Whitehouse

- Last updated on GMT

Related tags Chief executive officer Hong kong

L’Occitane third quarter results: net sales up 3%
The French-founded beauty player, known for its strong naturals profile, has announced that for the nine months leading up to the end of December, net sales were up 3% at constant rates.

It notes that on a like-for-like basis, sales were up 3.9%, and points to the Asia markets in which it is active as major influences in its success.

Same-stores sales improved significantly in key countries during festive season, the brand states, while China continued to outperform, and recovery in Hong Kong accelerated.

In detail

Net sales for the nine months ended 31 December 2017 were €1,000.9 million, an improvement of 3.0% at constant rates and a slight decline of 0.6% at actual rates compared to the same period of last year.

On a like-for-like basis (i.e. excluding Le Couvent des Minimes and a one-off deal of L’Occitane au Brésil last year), the Group’s net sales were up 3.9% and 0.3% at constant rates and actual rates respectively.

The Group’s emerging brands continued to grow steadily, with Melvita and Erborian delivering double-digit growth and contributing to overall sales growth. Excluding the one-off deal last year, L’Occitane au Brésil continued to deliver strong mid-double-digit growth.

Mr. Reinold Geiger, Chairman and Chief Executive Officer of L’Occitane, said, “We are pleased by our performance during the holiday season​.

Our focus remains on building on this foundation, including leveraging on our new flagship stores, deepening our foothold in different product categories, and appealing to new audiences, both online and offline.

"We also welcome the latest addition to the L’Occitane family, LimeLife by Alcone, to complement our existing product portfolio and strategy.

“In the next quarter, we look forward to start seeing its exciting growth be reflected in the Group.”

Asia spotlight

L’Occitane describes itself as  a global, natural ingredient-based cosmetics and well-being products company with origins and true stories from Provence, France and around the world, but Asia seems to be the region showing the strongest appetite for its product offering.

China, Brazil and Hong Kong were the fastest-growing markets during the period in local currency terms.

Sales in China grew 23.4%, while same-store sales grew 17.4%, thanks to the continued success of local marketing campaigns featuring the artist Lu Han, the company says, as well as the attractive festive-season offerings.

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