The l'Occitane Group announces the acquisition of Elemis, an award-winning international brand of face and body care products. The deal represents L'Occitane's largest acquisition since its listing on the Hong Kong Stock Exchange in 2010. It also marks a major milestone in the creation of a market-leading portfolio of beauty brands. Elemis will become a 100 % subsidiary of the group.
Run by its founder since 1990, Elemis is a leading cosmetics company in the UK and is enjoying profitable growth in the USA. Elemis premium cosmetics are made from natural ingredients and scientifically proven formulas. The brand sells its products directly through its websites and wholesalers to various distribution channels (internet, retail, QVC, professional spas and cruises) who work in synergy to raise consumer awareness, encourage product testing, and drive conversions and loyalty.
This acquisition is part of the Group's strategy to create a market-leading portfolio of premium cosmetics brands. It will further strengthen L'Occitane's distribution capacity across all channels and product categories, particularly in skincare products where it has invested heavily in recent years. Elemis will leverage the group's geographic presence to expand into new markets under the aegis of the current management team led by co-founder and CEO Sean Harrington, co-founder and president Noella Gabriel and co-founder and marketing director Oriele Frank.
" The acquisition of Elemis represents a truly exceptional opportunity, as the brand's philosophy, product quality, management capability and trajectory of growth and profitability are perfectly in line with our values. Elemis has immense growth potential in as yet unexplored markets and distribution channels, particularly in the Asia-Pacific region where we have a strong presence. We are confident that Elemis will make a rapid contribution to the Group's results, in line with our objective of delivering sustainable value to our shareholders. "said Reinold Geiger, President and CEO of L'Occitane.
" We are delighted to announce this agreement with L'Occitane, which will further strengthen our growth and the momentum behind our timeless brand and our totally revolutionary products.said Sean Harrington, co-founder and CEO of Elemis. L'Occitane's philosophy is very similar to our own: to offer quality products made from natural ingredients and developed using ultra-modern scientific and technological techniques. Thanks to the group's entrepreneurial leadership, I'm convinced that Elemis will become one of the world's leading skincare brands.. "
