- 2024-01-10
- 阅读量：7126
- 来源｜Cosmetic Business Online
- 作者｜Liu Jia Hui
Practicing geographically balanced, multi-brand strategies.
On January 8, L'Occitane Group announced the latest changes to its internal leadership structure.As of April 1, 2024, the roles of Chief Executive Officer and Group Managing Director will be combined into a single position, a move designed to sustain the Group's transformation into a geographically balanced, multi-brand group. AndreJoseph Hoffmann ("Andre") will step down as Chief Executive Officer, his term of office ending on March 31st. Andre will remain an Executive Director and a member of the Board of Directors of the L'Occitane Group and will continue to focus on strategy, policy and leadership matters within the Company. Laurent Marteau, the Group's current Managing Director, will take over as CEO of the L'Occitane Group.
Andre has been Vice-Chairman of the L'Occitane Group since 2016 and will become Group Chief Executive Officer in 2021. Reinold Geiger, Chairman of the L'Occitane Group, thanked André for his leadership during his tenure as CEO: "In recent years, he has led the company in achieving its strategic objectives, including geographic expansion, and has been instrumental in the successful acquisitions and integration of new brands such as ELEMIS, Sol de Janeiro and Grown Alchemist, among other new brands."
Andre will continue to play an important role in the Group, supporting the strategic direction of the Group as an Executive Director and Board member and helping to smooth the transition.
● From left to right：AndreJoseph Hoffmann、Laurent Marteau
Successor Laurent Marteau has over 20 years of experience in the global beauty industry. He held senior management positions at LVMH and spent 15 years in various countries.In 2014, he joined the La Prairie Leprince Group as Vice President, Global Travel Retail and Specialty Channels and became a member of the Board of Directors in the same year.In 2020, Laurent Marteau's responsibilities were expanded and he was appointed Vice President, Europe, the Americas, the Middle East and Africa, responsible for the coordination of the company's business in the region. In 2022, Laurent Marteau joined the L'Occitane Group as Group Managing Director.
L'Occitane has mentioned in its financial report that it will continue to unfold a multi-channel, multi-brand group operating model. from 2017 to 2022, L'Occitane has acquired the US color cosmetics LimeLife, the UK luxury skincare brand ELEMIS, the North American high-end body care brand Sol de Janeiro, and Australia's luxury efficacy skincare brand Grown Alchemist.
Despite their different products and target groups, these brands have shown remarkable profitability after the integration.Sol de Janeiro's sales grew by 188.8% at constant exchange rates in the first half of fiscal 2024, surpassing the brand's full-year sales for 2023, and the brand achieved triple-digit growth in all regions. In the first half, ELEMIS accounted for 10% of the Group's total revenue, making it the Group's second largest brand. The two newly acquired brands contributed nearly 40% of the Group's revenue.
Still expanding its brand portfolio, L'Occitane recently announced the acquisition of Dr. Vranjes Firenze, an Italian luxury home fragrance brand, stating, "This acquisition marks another step forward in the Group's strategy to build a geographically balanced portfolio of premium beauty and fragrance brands. With the addition of Dr. Vranjes Firenze, we will continue to expand our global brand portfolio and complement our existing premium beauty and fragrance brands."
Currently, all brands under L'Occitane are acquired, with the exception of LOCCITANE en Provence and Occitane au Bresil, which are own brands. Through continuous acquisitions and expansion, the L'Occitane Group's brand portfolio has been continuously improved, gradually forming a matrix of main brands with multiple high-end brands.
Reinold Geiger, Chairman of the Group, believes that Laurent is in tune with the Group and that his succession provides value to the Group. "As the Group grows and develops, we need to constantly improve, and Laurent demonstrates the entrepreneurial mindset of the L'Occitane Group and its deep commitment to people and nature. His in-depth knowledge of the global market, coupled with an inclusive leadership style, makes him a strong, strong CEO capable of leading a multi-brand and multi-cultural Group and delivering value to all stakeholders."
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