L’Occitane China and HK sales rise at rapid clip

Business | 22 Jan 2018 6:54 pm

French luxury skincare and body care brand L’Occitane International (0973) reported today sales in Hong Kong and mainland China grew in the nine months ended December 31, 2017.

In a trading update, the company said China outperformed recording 23.4 percent growth in local currency terms to 114.05 million euros. Same store sales growth further accelerated to 17.4 percent in China.

In Hong Kong, sales grew by 9.7 percent to 97.16 million euros at constant exchange rates, driven mainly by travel retail business and stabilization in retail sales. Sales data for Hong Kong includes Macau.

The results are unaudited.

In terms of geographical areas, China, Brazil and Hong Kong reported the highest sales growth in local currencies.

Group net sales grew by 3 percent at constant rates to 1 billion euros, and fell by 0.6 percent at reported rates, the company reported. This was due to unfavorable foreign exchange rates, the company said.

In the third quarter, retail sales improved significantly, while sales grew in most key countries, thanks to the strong brand visibility during the festive seasons with attractive offerings and key flagship openings, the company reported.

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