The L'OCCITANE Group acquires premium skincare brand ELEMIS
The L'OCCITANE Group is pleased to announce its acquisition of ELEMIS, an award-winning global brand for luxury skincare products for face and body. The deal represents the largest acquisition since L'OCCITANE listed on the Hong Kong Stock Exchange in 2010 and marks major step in building a leading portfolio of beauty brands. ELEMIS will become a wholly-owned subsidiary of the Group.
Founder-led since 1990, ELEMIS is a leader in skincare in the United Kingdom and has strong profitable growth in the US. ELEMIS’ premium quality beauty products are sourced from natural ingredients with scientifically-proven formulas. ELEMIS sells both directly to consumers through its websites and wholesale to various distribution channels, including digital, retail distribution, QVC, professional spa and maritime, which work synergistically to drive awareness, trial, conversion and retention.
The acquisition fits into the Group’s strategy of building a leading portfolio of premium cosmetics brands. The acquisition will further strengthen L’OCCITANE’s omni-channel distribution and product categories, particularly in skincare, in which it has invested substantially in recent years. ELEMIS will leverage on the Group’s geographical presence to expand into new markets, led by the existing management team headed by Co-Founder and Chief Executive Officer Sean Harrington, Co-Founder and President Noella Gabriel, and Co-Founder and Chief Marketing Officer Oriele Frank.
Reinold Geiger, Chairman and CEO of L’OCCITANE, said, “This is L’Occitane’s largest acquisition since listing and a major step forward in building a group of premium beauty brands. ELEMIS presents a truly unique opportunity that fits us perfectly in terms of brand ethos, product quality, management capability, as well as growth and profitability trajectory. ELEMIS has enormous growth potential in untouched markets and channels, particularly in Asia Pacific where we have strong presence. We are confident ELEMIS will be immediately accretive to the Group’s results, in line with our aim to deliver sustainable value to our shareholders.”
“We are thrilled to announce this agreement with L’OCCITANE, which will strengthen the continued growth and momentum behind our timeless brand and remarkably transformative products,” said Sean Harrington, Co-Founder and Chief Executive Officer of ELEMIS. “L’OCCITANE’s philosophy resonates closely with our own, in creating quality products sourced from nature and developed through cutting-edge science and technology. Together with the Group’s entrepreneurial leadership, I am confident about realising our mission to grow ELEMIS into one of the leading skincare brands in the world.”
More information about ELEMIS can be found here.