L’Occitane FY2019: China’s still the star but like-for-like sales growth is on the up

L’Occitane FY2019: China’s still the star but like-for-like sales growth is on the up

L’Occitane has announced its unaudited results for the financial year ended March 31, 2019 (FY2019). The natural cosmetics brand saw net sales grow 8.7 percent to €1,426.9 million, an uplift of 4.2 percent on a like-for-like basis, representing an improvement on last year’s 3.7 percent rise.

Emerging markets were undoubtedly the stars, with China booming 12.1 percent, Russian sales swelling 12.2 percent and Brazil’s performance boosted by 11.1 percent, although the US’ 31.8 percent sales growth, which was driven by LimeLife, was singled out as a highlight too. L’Occitane reports that the highest contributing markets to overall growth included Malaysia, Canada and Australia.

“We continued our solid growth momentum through to the end of FY2019, a year that brought many highlights,” said Reinold Geiger, Chairman and CEO. “This included the launch of highly popular products, particularly the Immortelle Reset serum, as well as the successful acquisition of Elemis. Our main L’Occitane en Provence brand grew at an accelerated rate compared to last year, a testament to the Group’s refocused strategy. Meanwhile, LimeLife continued to foster its development in the US, alongside the launch into new markets, while our other brands continued decent growth.

“Looking forward, uncertainties are still present in some markets, such as the UK. However, there are still tremendous opportunities in other regions, such as the Asia-Pacific where we will soon launch Elemis. We also look forward to announcing more exciting product launches in the coming financial year that will further solidify our presence in the global beauty market.”