Global magnificence group L’Occitane International S.A., ranked No. 18 on Happi’s 2021 International Top 30 Report, has acquired a majority stake in fast-growing Sol de Janeiro, a US-based premium physique care model that focuses on substances sustainably sourced from Brazil.
L’Occitane will purchase an oblique fairness curiosity of roughly 83% in Sol de Janeiro, based mostly on a valuation of $450 million, funded by the group’s money readily available and present banking services. Upon closing, Sol de Janeiro will change into a majority-owned subsidiary of the Group.
Founded within the US in 2015, Sol de Janeiro is a quick rising premium skincare model in North America; it provides physique care, perfume and hair care merchandise and sells each on to shoppers by means of its web site and thru varied premium retailers throughout the globe.
The acquisition is according to the L’Occitane’s technique of constructing a number one portfolio of premium magnificence manufacturers.
Sol de Janeiro’s digital presence and established physique care enterprise within the US is complementary to the L’Occitane’s balanced geographic technique to construct a portfolio of robust manufacturers in all main geographic areas. Meanwhile, Sol de Janeiro is anticipated to leverage on the group’s worldwide presence to broaden into new markets.
“In the previous few years, the Group has accelerated its M&A exercise with the assist of the robust money generative qualities of our core L’Occitane en Provence model, and extra just lately the Elemis model. We are delighted to be additional increasing our model portfolio and accelerating our transformation right into a multi-brand and geographically-balanced group,” stated André Hoffmann, vice-chairman and chief govt officer of L’Occitane. “With a compelling model story and an skilled and entrepreneurial administration group, Sol de Janeiro displays our values and premium magnificence picture. It has huge potential for development in new and present markets and channels around the globe and will probably be instantly accretive to the Group’s outcomes, contributing to wholesome and worthwhile development within the brief and medium time period.”
“I’ve at all times admired L’Occitane and its stunning way of life manufacturers anchored of their deep dedication to sustainability, and we’re thrilled to have discovered a house with the Group to proceed to drive our explosive development,” famous Heela Yang, EO and co-founder of Sol de Janeiro. “It has been my dream to achieve all corners of the globe with the heat and the enjoyment of the model and our distinctive iconic merchandise. Furthermore, we’re ecstatic to have discovered a companion who so deeply respects the model imaginative and prescient and values of inclusivity, pleasure and self-celebration. Together with the Group’s entrepreneurial management and world assist, we’re assured that the model will flourish and develop into a number one way of life skincare model.”
L’Occitane International S.A’s manufacturers additionally embrace L’Occitane en Provence, Melvita, Erborian, L’Occitane au Brésil, LimeLife by Alcone and Elemis.
https://www.happi.com/contents/view_breaking-news/2021-11-15/loccitane-acquires-majority-stake-in-premium-beauty-brand-sol-de-janeiro/
L’Occitane Acquires Majority Stake In Premium Beauty Brand Sol De Janeiro
