Mainland helps L'Occitane shine

L'Occitane International (0973) marked up 18.5 percent year-on-year growth in net sales to EUR1.07 billion (HK$8.88 billion) in the six months to the end of September.

The growth was driven mainly by the performance of Sol de Janeiro and the steady growth of L'Occitane en Provence with the recovering trend in China, the French luxury retailer said in a filing yesterday.

By regions, the Americas led the growth with 55.7 percent, mostly due to Sol de Janeiro in the United States.

The Asia Pacific region grew by 0.1 percent, or 9.2 percent at constant rates, mostly because of the 28 percent growth at constant rates in China. Sales in Europe, the Middle East and Africa rose by 3.6 percent, mainly due to Sol de Janeiro's strong growth.

In terms of channel performance, wholesale and others led the growth with 44.9 percent at constant rates, with dynamic growth in wholesale chains and international distribution, the company said.

Online sales surged by 26.9 percent at constant rates, thanks to the strong performance of Sol de Janeiro and L'Occitane en Provence's recently launched marketplace channel in China.

For the third quarter, net sales rose 17.1 percent to EUR569.8 million.

The company's shares rose 3.7 percent before the announcement.