L’OCCITANE acquires majority stake in Brazilian-inspired premium beauty brand Sol de Janeiro

Founded in the US in 2015 as a results-driven premium physique care brand with extremely efficacious substances sustainably sourced from Brazil, Sol de Janeiro is without doubt one of the fastest-growing premium skincare manufacturers in North America, with success throughout physique care, perfume and hair care merchandise. It sells each on to customers via its web site and thru numerous premium retailers throughout the globe.

The acquisition is in line with the Group’s technique of constructing a number one portfolio of premium beauty manufacturers. Sol de Janeiro is a strategic match for the Group in phrases of brand recognition and id, product high quality, administration functionality, in addition to progress, profitability and money era prospects. Sol de Janeiro’s digital presence and established physique care enterprise is complementary to the Group’s balanced geographical technique to construct a portfolio of sturdy manufacturers in all main geographical areas. Meanwhile, Sol de Janeiro is predicted to leverage the Group’s worldwide presence to broaden into new markets.
André Hoffmann, Vice-Chairman & Chief Executive Officer of L’OCCITANE, stated, ‘We are delighted to be additional increasing our brand portfolio and accelerating our transformation right into a multi-brand and geographically balanced group. With a compelling brand story and an skilled and entrepreneurial administration crew, Sol de Janeiro displays our values and premium beauty picture.’Heela Yang, Chief Executive Officer and Co-Founder of Sol de Janeiro, stated, ‘I’ve all the time admired L’OCCITANE, a gorgeous way of life brand anchored in a deep dedication to sustainability, and we’re thrilled to have discovered a house with the Group to proceed to drive our explosive progress. Furthermore, we’re ecstatic to have discovered a accomplice who so deeply respects our brand imaginative and prescient and values of inclusivity, pleasure and self-celebration.’The Group will purchase an 83% oblique curiosity in Sol de Janeiro. Upon closing, Sol de Janeiro will change into a majority-owned subsidiary of the Group.Contact: [email protected]Photo – https://mma.prnewswire.com/media/1688350/LOCCITANE_acquires_majority_stake_of_Sol_de_Janeiro.jpgLogo – https://mma.prnewswire.com/media/1527234/LOCCITANE_GROUP_logo.jpgSOURCE L’OCCITANE Group

https://www.prnewswire.com/news-releases/loccitane-acquires-majority-stake-in-brazilian-inspired-premium-beauty-brand-sol-de-janeiro-301424298.html

Recommended For You