L’Occitane is promoting British skincare model Elemis, a premium British skincare model established in 1989, to French non-public fairness agency PAI Companions, which plans to speed up the model’s development in america, each corporations introduced on November 4.
The transaction, the monetary phrases of which haven’t been disclosed, is predicted to shut within the first quarter of 2027, topic to customary regulatory approvals, in line with a press launch.
Based in 1976 in Manosque, southeastern France, L’Occitane acquired Elemis in 2019 for USD 900 million (EUR 785 million). It was then the biggest acquisition within the historical past of the group owned by Austrian billionaire Reinold Geiger.
Throughout its seven years underneath L’Occitane possession, Elemis has “nearly doubled its web gross sales”, which now exceed USD 300 million, in line with the press launch. The model generates almost half of its income on-line and has recorded speedy development in america, which accounts for about half of its web gross sales.
L’Occitane CEO Reinold Geiger highlighted the “particular position” Elemis has performed within the group’s historical past. The group’s portfolio additionally contains L’Occitane en Provence, French skincare model Melvita, Korean skincare model Erborian and Brazilian-inspired model Sol de Janeiro.
“This transaction displays a disciplined portfolio determination, centered on creating long-term worth for the Group,” he stated.
PAI’s companions Gaëlle d’Engremont and Colm O’Sullivan stated they had been trying ahead to supporting Elemis via its “subsequent section” of improvement. Their priorities embody accelerating development in america and increasing on-line gross sales whereas “preserving its distinctive British id”.
In line with its newest revealed outcomes, the L’Occitane Group generated EUR 2.8 billion in world web gross sales within the 2024–2025 monetary yr, ended March 31, 2025, representing a 12% improve year-on-year at fixed trade charges.
L’Occitane delisted from the Hong Kong Inventory Change in 2024, having been listed there since 2010, after Geiger purchased again all excellent shares.
