L’Occitane International S.A reported net sales of just over €1 billion ($1.13 billion) in the first half of its 2024 fiscal year, an increase of 24.9 percent at constant rates. While its flagship bath and body brand L’Occitane en Provence had the highest sales at €595 million, the biggest gainer was Sol de Janeiro, whose sales grew 174 percent to €270 million. L’Occitane acquired the Brazilian-inspired brand in 2021. Sales for premium skin care brand Elemis declined in the US and UK, but the brand still grew 7.6 percent, with overall sales at €109 million.
Trading in the company’s shares on the Hong Kong stock exchange HKEX were temporarily halted in September, following a report from Bloomberg that Reinold Geiger, the company’s billionaire majority shareholder, sought to delist the company and take it private. Trading later resumed, with the company saying at the time that it hadn’t received a firm offer and had not entered a definitive agreement.
L’Occitane Halts Trading in Hong Kong as Take-Private Bets Swell
The firm said in August that its controlling shareholder was considering a possible deal to take the company private with a minimum possible offer of HK$26 ($3.31) per share.