L’Occitane results: China boosting sales
Net Sales are up 4.6% at constant rates and 3.7% on like-for-like basis, coming in at €1,319.4 million, the company confirms, with China now its second largest market on a like-for-like basis.
Indeed, while China, Brazil, the US and Hong Kong were the fastest-growing markets during FY2018 in local currency terms, China proved the star market.
Sales in China grew 20.5%, while same store sales grew 15.1%, maintaining strong momentum both online and offline.
Meanwhile, in other key headlines from the results, US growth has turned positive, thanks to LimeLife and and a pick-up in retail.
Asia hotspot for L’Occitane
Reinold Geiger, Chairman and Chief Executive Officer of L’Occitane, said: “We concluded FY2018 with a strong final quarter, particularly in Asia, where we are continuing to introduce more and more consumers to our world of all-natural products with proven ingredients and recipes.”
It appears that the origin stories that L’Occitane bases its naturals-focussed product line on, mostly linked to the Provence region in southern France, have a strong international resonance, with consumers responding well to these ideas.
“Looking forward, we will continue to boost our appeal through the use of innovative store fronts that highlight our true stories and origins, creative marketing initiatives, and new products including the Aqua Réotier range and a promising new hero product due to be launched later this year,” confirmed Geiger.
“We believe these initiatives will bridge the customer experience in a way that effectively support both our offline and online sales.”