L’Occitane Hong Kong sales slump

Cosmetics and skincare retailer L’Occitane International has reported strong Mainland China sales growth – but a slump in Hong Kong and Macau.

L’Occitane Hong Kong and Macau sales dropped 14.5 per cent according to the company’s stock exchange filing for the nine months to December 31.

The Hong Kong travel retail business also suffered from declining tourist travel in the Greater China region, as people flew further afield to locations such as Europe, Japan and Korea.

In local currency, the company’s Mainland China sales rose by 19.1 per cent – equating to euro 94.8 million.

China was the fastest growth market ahead of France, Brazil, Russia and Japan.

Group net sales rose 11.6 per cent to 984.7 million euros for the nine months, although only by 5.8 per cent at constant exchange rates. Overall same store sales rose 1.8 per cent.

You have 7 articles remaining. Unlock 15 free articles a month, it’s free.