In the first half of the current financial year, sales at L’Occitane International (the owner of L'Occitane en Provence and Erborian) dropped by 15.2%, to €616.6 million, affected by the Covid-19 crisis.
Function of Beauty said the investment will accelerate the company's product development, support its continued worldwide expansion, and build upon its already industry-leading customized manufacturing capabilities.
The Hut Group, the beauty giant that’s big and getting bigger at speed, said on Monday that its THG Ingenuity operation has signed £100 million worth of partnerships with global beauty brands and brand owners.
Very.co.uk is building its beauty offering with the launch of an additional 50 beauty and fragrance brands. The range will expand further throughout 2020 to include skincare, haircare, men’s products and baby products.
In H1 of the current financial year, L’Occitane International (owner of L’Occitane, Erborian and Melvita) posted a 22% revenue rise, largely driven by skincare brand Elemis, bought by the group in March 2019.
Hong Kong-listed beauty group L’Occitane said this week that its net profit in the year to March 31 soared almost 22% to at €117.6m, even though its revenue rise was more modest, up just over 8% to almost €1.43bn.