THE WHAT? L’Occitane FY2022 Q3 sales grew 13.5 percent at reported rates and 9.5 percent at constant rates, bolstered by a strong holiday season.
THE DETAILS Sales for the nine months ending 31 December, 2022 reached €1,375.1 million, an increase of 14.2 percent.
Net sales growth in FY2022 Q3 accelerated as compared with pre-pandemic levels in FY2020 rising 14.6 percent on a like-for-like basis.
L’Occitane en Provence reported 14.8 percent growth at constant rates in FY2022 9M, while Elemis continued to accelerate, reporting growth of 35.9 percent. This was driven by the rebound of its spa and wholesale businesses, the acceleration of online channels in both the US and the UK, and the continued rollout in new markets.
LimeLife, however, saw a sales decline of 29.7 percent, attributed to a high base in 2021 and sluggish recruitment of beauty guides this year.
Key markets Brazil, Russia, Hong Kong and China grew 40.7, 28.1, 25.7 and 18.5 percent at constant rates respectively.
Q3 reported a strong recovery for both online and retail, which grew 4.1 percent and 13 percent YOY respectively.
THE WHY? André Hoffmann, Vice-Chairman & Chief Executive Officer of L’Occitane, said, “Despite concerns about the accelerating spread of the Omicron variant, we delivered a strong holiday season in most key markets with growth contribution from all regions, namely Asia Pacific, Europe and the Americas.
“The spirit of the season was not just restricted to physical channels, as online sales continued to grow nicely despite the increasingly normalised shopping environment, thanks to our longstanding effort to strengthen our omni-channel presence.”