By  on June 17, 2019

L’Occitane International S.A. went from a net cash position to a net debt one this year as a result of loan financing for its recent Elemis acquisition, but the Hong Kong-listed, Swiss-based multibrand group maintained profitability and reported 21.8 percent growth in net profit to 117.6 million euros.

The increase in profits can be attributed to targeted investments and acquisitions made to strengthen the brand’s position in the skin-care market.

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