L'Occitane announce increase in sales thanks to Elemis acquisition

L'Occitane has announced a 16.2% increase in net sales for the first three months since it acquired skincare brand, Elemis.

Net sales were $400 million, with Elemis sales having been consolidated since April 2019.

According to the company statement, "sell-in sales accounted for 31.4% of the Group's total sales and amounted to $123 million, an increase in 43.1% compared to this time last year. The increase was primarily driven by Elemis."

Reinold Geiger, Chairman and Chief Executive Officer of L'Occitane, said, "we are pleased about the accelerating sales growth of L'Occitane en Provence. It is also encouraging to see decent growth in more mature markets, such as Japan and Europe. Our growth in China remaind robust despite the prevailing global macroeconomic uncertainties. Elemis, our recent acquisition, is already having a profound impact on our top-line and will support our profitability in 2020."

Geographically, the UK, Other Countries, Russia and Brazil all posted encouraging growth at 253%, 18.7%, 16.4% and 13.6% meanwhile, China saw growth of 8.3% driven by a successful digital strategy of e-commerce, marketplace and web partner channels. Hong Kong saw a decline in retail sales.

L'Occitane has announced a 16.2% increase in net sales for the first three months since it acquired skincare brand, Elemis.

Net sales were $400 million, with Elemis sales having been consolidated since April 2019.

According to the company statement, "sell-in sales accounted for 31.4% of the Group's total sales and amounted to $123 million, an increase in 43.1% compared to this time last year. The increase was primarily driven by Elemis."

Reinold Geiger, Chairman and Chief Executive Officer of L'Occitane, said, "we are pleased about the accelerating sales growth of L'Occitane en Provence. It is also encouraging to see decent growth in more mature markets, such as Japan and Europe. Our growth in China remaind robust despite the prevailing global macroeconomic uncertainties. Elemis, our recent acquisition, is already having a profound impact on our top-line and will support our profitability in 2020."

Geographically, the UK, Other Countries, Russia and Brazil all posted encouraging growth at 253%, 18.7%, 16.4% and 13.6% meanwhile, China saw growth of 8.3% driven by a successful digital strategy of e-commerce, marketplace and web partner channels. Hong Kong saw a decline in retail sales.