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L’Occitane takes majority stake in beauty brand Sol de Janeiro

(Source: supplied )

The L’Occitane group has acquired an 83 per cent stake in Brazilian-inspired body care brand Sol de Janeiro as part of a strategy to expand its premium beauty offer.

Upon the deal’s closure, Sol de Janeiro will become a majority-owned subsidiary of L’Occitane group. The value of the deal has not yet been disclosed.

L’Occitane said Sol de Janeiro is a strategic fit in terms of brand recognition and identity, product quality, management capability, as well as growth, profitability and cash generation prospects.

“With a compelling brand story and an experienced and entrepreneurial management team, Sol de Janeiro reflects our values and premium beauty image,’ said Andre Hoffmann, vice chairman & CEO of L’Occitane.

“Sol de Janeiro’s digital presence and established body care business are complementary to the group’s balanced geographical strategy to build a portfolio of strong brands in all major geographical regions,” the company said in a statement.

Sol de Janeiro is expected to strengthen L’Occitane’s international presence to expand into new markets.

Founded in 2015 in the US, Sol de Janeiro has become one of the fastest-growing premium skincare brands in North America, and is known for its body care, fragrance and hair care products designed for multi-generational consumers.

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