Growth spurred on by accelerated sales in China
L’Occitane has posted net sales of 16.4% for the nine months ended 31 December 2011 to reach €681.4m. Excluding foreign currency translation effects, the sales growth was 17.5%. China was cited as the best performing market, with net sales up 58%, while Hong Kong (+36.5%), Brazil (+35.3%) and Russia (26.9%) all posted strong growth.
The company also continued its retail store expansion, opening 1,033 new stores during the period, a net increase of 161over 12 months. Asia was a key focus for the brand where 85 additional stores opened. This included 25 in China, 16 in Japan and three in Hong Kong, alongside 47 in Europe and 29 in the Americas.
“We are very satisfied with our excellent sales performance during the key third quarter of our financial year,” commented Reinold Geiger. “Looking forward, L’Occitane will continue to implement our planned development strategy and expedite sales growth through accelerated store openings, in particular in emerging and fast growing countries.”