The French cosmetics group, which is listed on the Hong Kong Stock Exchange, again recorded an increase in sales in the first quarter of the year. As of March 2024, L'Occitane has surpassed its sales figure for the same period last year with 2,541 million euros. In the first quarter of 2023, sales stood at 2.1 billion euros.
L'Occitane shared these results in a press release, explaining that this increase is largely due to its expansion in key markets. However, the French group points out that net profits have decreased by more than 2% and that this decrease is due precisely to investment in strategic markets.
The french cosmetics group has seen to grow his sales around 3% to global level and has improved his impact in China compared last year.
The Sol de Jainero brand has been the fastest growing brand with 167% growth and has become the second most important brand in its brand portfolio with an operating margin of over 23%. Provence, L'Occitane's core brand, grew double-digit in the Chinese market. Meanwhile, the Elemis brand has seen its sales decline in both the US and the UK, while in China it has grown thanks to the boost of sales in Douyin and live sales by influencers.
The company's CEO, Laurent Marteau, highlighted the company's economic efforts in terms of IT, marketing, supply chain infrastructure and sustainability.