L’Occitane has released its fiscal year 2023 results, which showed net sales were €2,134.7 million, as compared to €1,781.4 million in the previous year. This is the first time L’Occitane has exceeded €2 billion.
Gross profit was €1,718.1 million, as compared to €1,463.4 million in the previous year.
Operating profit was €239.1 million, as compared to €310.7 million in the previous year.
L’Occitane en Provence
The brand grew by 6.8% in FY2023.
It delivered an operating profit margin of 14.6% in FY2023.
Elemis
The brand grew 8.9% at constant rates in FY2023.
Elemis ranked as the No. 1 skin care brand in earned media value in its largest markets, the United Kingdom and United States.
It delivered an operating profit margin of 20.2%.
Sol de Janeiro
In less than two years since it was acquired, it has grown to become the group’s second-largest brand with sales growth of 135.2% and an operating profit margin of 24.6%.
André Hoffmann, vice-chairman and CEO of L’Occitane, said, “We are cautiously optimistic as we head into FY2024. While the macroeconomic environment remains uncertain, we expect to achieve double-digit sales growth and healthy profitability, supported by significantly higher marketing investments for the core brand in key markets and channels, as well as for our new brands as they enter new markets, including the upcoming launch of Sol de Janeiro and Grown Alchemist in APAC. We are convinced that these investments will not only allow us to capitalize on the clear opportunities this year with the gradual return of international travel and a rebound in China, but also to propel our development as a multi-billion Euro, multi-brand group in the years to come.”
