BEIJING – L’Occitane International S.A. reported unaudited yearly sales of 1.3 billion euros, down 0.3 percent from last year, affected by unfavorable exchange rates, the company said on Monday.
For the year ended March 31 and on a like-for-like basis – excluding the sale of Le Couvent des Minimes, a one-off deal concerning L’Occitane au Brésil last year, and the acquisition of LimeLife – the group’s net sales fell 1 percent.
The firm did not release profit figures.
Mainland China continued a streak of impressive sales growth in an otherwise tepid year, with revenues rising 20.5 percent in local currency, and same-store sales growth of 15.1 percent. Hong Kong grew 8.3 percent on strong travel retail sales and a rebound in the overall retail market.
Sales in Brazil grew by 11.3 percent in local currency, contributed by both L’Occitane en Provence and L’Occitane au Brésil, its line specially made and focused for the Latin American country.
The U.S. returned to positive growth, lifted by LimeLife, a play into the color cosmetics sector, which had “strong web sell-out and improved retail performance in the last quarter,” the group said.
Online sales – both directly operated e-commerce and marketplaces – picked up pace, delivering growth of 19.2 percent.
Over the past year, the group opened 41 stores, mainly in Brazil, and renovated 153 others.
Last week, L’Occitane named Sylvain Desjonquères as group managing director, effective April 25. Most recently an independent advisor in the retail and consumer space, Desjonquères brings 28 years of experience in business with positions at companies including L’Oréal, La Halle and Redcats of FullBeauty Brands group.