Due to the pandemic, L’Occitane has had to restructure. But thanks to e-tail and China, the multinational beauty group has proven resilient, and hopes this dark period will foster more responsible business practices.
In the first half of the current financial year, sales at L’Occitane International (the owner of L'Occitane en Provence and Erborian) dropped by 15.2%, to €616.6 million, affected by the Covid-19 crisis.
Hong Kong-listed beauty group L’Occitane said this week that its net profit in the year to March 31 soared almost 22% to at €117.6m, even though its revenue rise was more modest, up just over 8% to almost €1.43bn.
Founded in 1955, the Chalhoub Group, a major distributor of luxury goods in the Middle East, has made some big changes over the last few years through digital development, innovation and strategic partnerships.