L’Occitane Group Reports 16.5% Rise in Q3 Net Sales

Net sales for L’Occitane Group in the nine months ended December 31, 2022 were $1.7 billion—representing 16.5% growth, according to the company.

 

The newly-consolidated brands Sol de Janeiro and Grown Alchemist made an impact on the quarter, said the company.

 

“Like many brand operators with a strong retail footprint, we are feeling the effect of China’s exit from Covid-19 restrictions and more cautious sentiment in other markets around the world,” said André Hoffmann, vice-chairman & CEO of L’Occitane. “However, thanks to our proven track record of resilience and our efforts to increase our brand and geographic diversity, we have managed to weather this well, maintaining decent growth overall.”

 

“The strongest of the current headwinds are likely to prove short-term,” added Hoffmann. “As we head into FY2024, we see ample growth opportunity from launching some of our newer brands into new markets and channels. We remain optimistic about our long-term strategy as a multi-brand and geographically-balanced group.”