THE WHAT? L’Occitane International SA has put a temporary pause on its Hong Kong stock trading, hinting at the possible transition of the esteemed French skincare brand to a private entity.
THE DETAILS Last month, sources from Bloomberg highlighted that the Chairman of L’Occitane, Reinold Geiger, might be considering privatising the firm. Speculations suggest that offers could soar as high as HK$35 per share.
THE WHY? L’Occitane’s roots extend to both Luxembourg and Geneva. Their ambitious 2010 Initial Public Offering in Hong Kong raked a staggering $787 million. This strategic move was set against numerous Western brands vying for a slice of China’s rapidly expanding consumer market.