L’Occitane has announced its unaudited second quarter and first-half 2024 results, which showed net sales were €1,072.0 million in the six months ending September 30, 2023, an increase of of 18.5% as compared to the previous year. Net sales for the second quarter were €569.8 million, an increase of 17.1% compared to the previous year.
L’Occitane en Provence
Net sales for the second quarter were €305.4 million, as compared to €319.8 million in the previous year.
Net sales for the first half were €595.6 million, as compared to €610.3 million in the previous year.
The first half sales grew 3.5% at constant rates contributed mainly by the double-digit sales growth in China.
Net sales for the second quarter were €60.7 million, as compared to €64.8 million in the previous year.
Elemis' overall sales in the United Kingdom and the United States declined, in line with the management’s expectations as the brand continued to execute its premiumization strategy.
Net sales for the first half were €109.2 million, as compared to €105.1 million.
Sol de Janeiro
Net sales for the second quarter were €157.0 million, as compared to €56.0 million in the previous year.
Net sales for the first half were €270.0 million, as compared to €98.6 million in the previous year. The brand exceeded its annual sales in fiscal year 2023.
L'Occitane announced that the brand is now available at Heinemann Australia, inside the Sydney Airport's international departures area.
This mark's Sol de Janeiro's first counter in travel retail in Asia Pacific.
Travelers can use an interative photobooth with tailor-made frames and props on-hand. The photos can then be downloaded to personal devices via QR codes.
Mr. André Hoffmann, vice-chairman and CEO of L’Occitane, said, “We maintained our double-digit growth momentum despite the difficult market context. It is particularly pleasing to see Sol de Janeiro’s stellar growth accelerating amid the continued steady growth of our core brand. Meanwhile, we are committed to ELEMIS’s premiumization strategy and believe it will enhance its long-term growth potential and profitability. We remain cautiously optimistic about our prospects for FY2024 as we head into the important holiday and gifting seasons, which will be supported by higher marketing investments in key markets and channels for our core brand and the continued development of our newer brands. This will help us weather ongoing headwinds including foreign currency fluctuations and persistent inflation in certain markets.”