L'Occitane Acquires American Care Brand，Performance in Chinese Market Contributed The Most

On November 15, French skincare brand L'Occitane announced that it plans to acquire approximately 83% of American body care brand Sol de Janeiro, which is expected to be worth approximately $370 million based on an estimated value of $450 million for 100% of common stock of Sol de Janeiro. The deal that may be completed before the end of the year.

---

Sol de Janeiro sells premium body care, fragrance and hair care products directly to consumers through its website and also wholesales its products to various distribution channels. The company is said to be performing strong in finance. The Board of Directors of L'Occitane said that this transaction is complementary to the Group's existing business strategy and will benefit the Group's future global growth and profitability.

In addition, according to recently disclosed financial results of L'Occitane, the Group's net sales amounted to approximately $830 million in the first half of fiscal 2022 representing an 11.4% increase in net sales. Its core brand - L'Occitane Provence - achieved significant growth of 21.7%.

In addition, according to recently disclosed financial results of L’Occitane, the Group’s net sales amounted to approximately $830 million in the first half of fiscal 2022

Meanwhile, the second quarter saw a strong recovery in L'Occitane's offline channel, particularly in travel retail in Asia. In addition, L'Occitane attributed the growth to the company's ongoing restructuring strategy. “Same-store sales grew by 11.9% in the first half of fiscal 2022 as stores reopened worldwide,” the company said. Nevertheless, the Group's online channel remained strong growing 11.6% in the second quarter of fiscal 2022, following significant growth of 64.6% in the second quarter of fiscal 2021. "