L'Occitane acquires majority stake in cosmetics brand Sol de Janeiro
Cosmetics group L'Occitane, whose brand portfolio includes L'Occitane en Provence, Melvita and Elemis, has recently acquired an 83% stake in beauty brand Sol de Janeiro. The value of the transaction has not been disclosed, but Sol de Janeiro will become a subsidiary of the group.
Sol de Janeiro was founded in the USA in 2015, and uses ingredients sourced sustainably in Brazil. It offers a range of body and hair care products and fragrances, and is described as one of the fastest-growing premium beauty brands in North America. Sol de Janeiro is commercialised via its own e-shop and at select retailers worldwide.
“Sol de Janeiro is a strategic acquisition for the L'Occitane group in terms of brand reputation and identity, product quality and management capabilities, as well as growth prospects, profitability and cash flow. Sol de Janeiro is strongly rooted in e-tail, and with its range of body care products it is also complementary to the strategy of L’Occitane International, whose aim is to build a portfolio of strong brands in all major geographical areas. For its part, Sol de Janeiro will be able to take advantage of L’Occitane’s international presence and expand into new markets,” said L’Occitane in a press release.
In Q2 of the current fiscal year, from July to September, French cosmetics group L'Occitane recorded sales worth €342.46 million, equivalent to an 11.4% rise compared to Q2 2020-21.
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