Chairman of L’Occitane International Considers Privatization Amid Strong Q1 Results

Chairman of L’Occitane International Considers Privatization Amid Strong Q1 Results

THE WHAT?  Reinold Geiger, Chairman of French skincare corporation L’Occitane International, is reportedly considering taking the company private. Geiger, who owns over 70% of the company, is exploring buying out the minority stakeholders of the Hong Kong-listed firm, currently valued at $4.2 billion.

THE DETAILS?  This possible move emerges following impressive growth results in the company’s first quarter. The period saw sales soar by 24.5%, reaching €502 million, largely due to the successful performance of Sol de Janeiro and L’Occitane en Provence brands in China. Growth was most notable in the Americas and APAC regions.

THE WHY?  Despite uncertainties such as inflation and slower recovery in China, the company remains cautiously optimistic about the financial year 2024. The optimism stems from increased marketing investments, newer brand development, and the group’s expansion into the clean beauty market through strategic acquisitions.

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