Groupe L’Occitane has announced that strong sales across Asia along with rapid online growth helped the brand contain its sales decline during the June quarter.
The decline has ended up at 22 per cent, a comparatively respectable figure given the effects of Covid-19. The Hong Kong-listed company singled out China, South Korea and Taiwan as its strongest-performing markets, which “bounced back rapidly” after lockdowns, recording year-on-year sales growth of 24.9 per cent, 27.4 per cent and 11.5 per cent respectively.
These figures have greatly helped compensate for the huge reductions in turnover in Japan, Europe and the Americas which have been affected by store closures and lockdowns that have resulted from the pandemic.
Groupe L’Occitane Chairman Reinold Geiger said all of the company’s brands, except for LimeLife, were heavily impacted by travel bans and lockdowns, posting sales decreases ranging from 25 per cent to 35 per cent.
“LimeLife, however, posted strong growth of 51.6 per cent at constant exchange rates, thanks to its resilient online-only business model, as well as successful new product launches, a flash sale and initiatives to recruit beauty guides.”
