Draft:Groupe L’Occitane
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| Company type | Private (formerly public) |
|---|---|
| Template:Former ticker | |
| Industry | Cosmetics, skincare, wellness |
| Founded | 2000 |
| Founder | Reinold Geiger |
| Headquarters | |
Area served | Worldwide |
Key people | Reinold Geiger (Chairman and CEO) |
| Brands | L’Occitane en Provence, Melvita, Erborian, Elemis, Sol de Janeiro, Dr. Vranjes Firenze |
| Revenue | €2.135 billion (FY2023)[1] |
| Owner | Reinold Geiger (controlling shareholder) |
Number of employees | 8,835 (as of 31 March 2023)[2] |
| Website | group |
Groupe L’Occitane is a multinational holding company specializing in cosmetics, skincare, and wellness products. Founded in Luxembourg in 2000, the group manages a portfolio of beauty and personal care brands operating in over 90 countries.[3] Its most prominent brand is L’Occitane en Provence, a French skincare and fragrance company established in 1976.
The company has received international coverage in financial and industry media, including Reuters, the Financial Times, Forbes, and WWD, for its public listing, acquisitions, and brand expansion strategy.[4][5][6]
History
[edit]Groupe L’Occitane was incorporated in 2000 in Luxembourg to serve as the holding company for L'Occitane en Provence, which had been founded in 1976 by Olivier Baussan. The group’s formation was led by Austrian businessman Reinold Geiger, who acquired a controlling stake in the brand in the 1990s.[7]
In 2010, Groupe L’Occitane became the first French company to list on the Hong Kong Stock Exchange, raising approximately US$787 million in its IPO.[8]
In 2019, it acquired UK-based skincare company Elemis for US$900 million, marking a significant entry into the U.S. premium skincare market.[9]
In 2021, the group acquired a majority stake in U.S.-based brand Sol de Janeiro for $450 million.[10]
In 2022, L’Occitane acquired Australian clean beauty brand Grown Alchemist. In May 2024, it sold the brand back to founder Jeremy Muijs.[11]
In July 2024, it acquired a majority stake in Italian fragrance brand Dr. Vranjes Firenze.[12]
Corporate structure
[edit]Groupe L’Occitane is registered as L’Occitane International S.A. in Luxembourg. It operates from its global headquarters in Luxembourg, with regional offices in Geneva, Paris, Hong Kong, Tokyo, New York, and São Paulo.[13]
It was listed on the Hong Kong Stock Exchange under the ticker SEHK: 973 from 2010 to 2024. In April 2024, Geiger initiated a buyout to take the company private.[14]
Brands and subsidiaries
[edit]| Brand | Acquired | Country of origin | Description |
|---|---|---|---|
| L'Occitane en Provence | N/A (founded 1976) | France | Flagship brand, known for skincare and fragrances from Provençal ingredients. |
| Melvita | 2008 | France | Organic beauty brand focused on ecological sourcing. |
| Erborian | 2012 (minority stake) | South Korea / France | Hybrid skincare line blending K-beauty with French textures. |
| Elemis | 2019 | United Kingdom | Spa-oriented skincare line with a premium anti-aging focus. |
| Sol de Janeiro | 2021 | United States / Brazil | Brazilian-inspired body care brand known for “Bum Bum Cream”. |
| Dr. Vranjes Firenze | 2024 | Italy | Niche fragrance brand specializing in home scents and personal perfumes. |
| Grown Alchemist | 2022–2024 (divested) | Australia | Clean beauty brand emphasizing cosmeceuticals; sold in 2024. |
Sustainability and ESG strategy
[edit]Groupe L’Occitane has committed to net-zero carbon emissions by 2050 and a 55% reduction by 2031, in line with the Science Based Targets initiative (SBTi).[15] It has also introduced in-store refill stations, eco-refill packaging, and biodiversity programs with traceable ingredient sourcing.[16]
Criticism and controversies
[edit]In March 2022, L’Occitane faced backlash for continuing operations in Russia during the Ukraine invasion, citing franchise obligations and employee safety.[17] Following public pressure, the company announced it would shut down its Russian stores and e-commerce operations in April 2022.[18]
References
[edit]- ^ "Annual Report FY2023" (PDF). Groupe L’Occitane. 31 July 2023. Retrieved 7 September 2025.
- ^ "Annual Report FY2023" (PDF). Groupe L’Occitane. 31 July 2023. Retrieved 7 September 2025.
- ^ "L'Occitane's Reinold Geiger on Turning Soap Into a Global Luxury Brand". Forbes. 25 July 2017. Retrieved 7 September 2025.
- ^ "L'Occitane Makes Strong Debut in HK IPO". Reuters. 2 May 2010. Retrieved 7 September 2025.
- ^ "L'Occitane acquires UK skincare brand Elemis for $900m". Financial Times. 28 January 2019. Retrieved 7 September 2025.
- ^ "L'Occitane Group Expands Global Footprint and Luxury Positioning". WWD. 17 March 2023. Retrieved 7 September 2025.
- ^ "L'Occitane's Reinold Geiger on Turning Soap Into a Global Luxury Brand". Forbes. 25 July 2017. Retrieved 7 September 2025.
- ^ "L'Occitane Makes Strong Debut in HK IPO". Reuters. 2 May 2010. Retrieved 7 September 2025.
- ^ "L'Occitane acquires UK skincare brand Elemis for $900m". Financial Times. 28 January 2019. Retrieved 7 September 2025.
- ^ "L'Occitane Buys Sol de Janeiro in $450 Million Deal". Forbes. 29 November 2021. Retrieved 7 September 2025.
- ^ "L'Occitane Group sells Grown Alchemist brand back to founder". Retail Dive. 2 May 2024. Retrieved 7 September 2025.
- ^ "L'Occitane Group Acquires Dr. Vranjes Firenze". BeautyMatter. 3 July 2024. Retrieved 7 September 2025.
- ^ "About Us". Groupe L’Occitane. Retrieved 7 September 2025.
- ^ "L'Occitane founder plans Hong Kong delisting". Le Monde. 11 April 2024. Retrieved 7 September 2025.
- ^ "L'Occitane Sustainability Strategy Expands". WWD. 27 April 2023. Retrieved 7 September 2025.
- ^ "Eco-Refills". L’Occitane en Provence. Retrieved 7 September 2025.
- ^ "L'Occitane still open in Russia as brands pull out". The Guardian. 15 March 2022. Retrieved 7 September 2025.
- ^ "Statement on Operations in Russia". Groupe L’Occitane. 15 April 2022. Retrieved 7 September 2025.