L’Occitane group’s operating income up by 10.3% in H1
In the first six months of fiscal 2022-23, ended on September 30, beauty and cosmetics group L’Occitane, owner among others of L’Occitane en Provence and Melvita, recorded an operating income of €87 million, up 10.3% over the same period in the previous fiscal year. Net profits in H1 stood at €63.9 million, equivalent to a 5.4% rise.
This fine performance was chiefly due to the addition of two beauty brands to L’Occitane's portfolio, Sol de Janeiro and Grown Alchemist. The former was bought by L’Occitane in November 2021, and generated sales worth €94.6 million. Grown Alchemist, an Australian brand acquired in March 2022, is flourishing as part of L’Occitane’s “other brands” division, which also includes Melvita and Erborian, and which recorded a revenue of €90.5 million, growing by 4.9%.
Finally, L’Occitane en Provence, the mainstay of L’Occitane’s portfolio, generated sales worth €610.3 million, up by 3.4%. Altogether, in H1 of fiscal 2022-23, the group’s total sales reached €900.5 million, compared to €696.4 million in the same period a year earlier.
At the end of November, the group unveiled its new mission statement, which says that “with empowerment we positively impact people and regenerate nature.” L’Occitane intends to develop into a multi-brand group with a uniform worldwide presence, and has undertaken a plethora of initiatives, especially involving its smaller brands.
In August, inside a shopping mall in Malaysia, L’Occitane for example opened a Melvita pop-up store with a French tea room feel, where customers could receive advice about customised skincare routines, and leave with a small grocery-style shopping bag full of products.
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