L'Occitane International SA 00973

The Combination of a Strong Brand and Effective Marketing Should Be a Winning Recipe for Elemis

We think L’Occitane’s growth over the next five years will largely depend on the performance of Elemis and the outcome of its omnichannel strategy. Elemis, a premium skincare brand acquired in March 2019, is predominantly sold in the U.K. and U.S. with few sales elsewhere. Whether Elemis can repeat its success in other markets, especially China, will make a big difference in L’Occitane’s fortunes, given the steep price L’Occitane paid for the acquisition.