Beauty giant L’Occitane International is adding the prestige skincare brand Elemis to its portfolio. The group, which owns multiple brands including L’Occitane en Provence, L’Occitane au Brésil, Melvita and Erborian, cited the British skincare brand’s "strong cross-generational consumer appeal" as one of the motivating factors behind the US$ 900 million acquisition.
"We have long admired Elemis for their commitment to natural ingredients and scientific innovation, and we look forward to utilizing our expertise in the category to expand the brand’s footprint around the world," said Reinold Geiger, Chairman and Chief Executive Officer of L’Occitane, in a statement.
Since it first broke onto the scene in 1990, Elemis has built up a reputation as a go-to luxury wellness brand for face and body care, focusing on the dual power of natural ingredients and scientific innovation. The London-based company sells directly to consumers through its websites and is also present in more than 1,600 spas, salons, stores and multiple e-retailers worldwide.
A skincare leader in the UK with a strong and profitable growth, particularly in the US, Elemis will leverage on the L’Occitane group’s geographical presence to expand into new markets. According to Reinold Geiger, the brand “has enormous growth potential in untouched markets and channels, particularly in Asia Pacific”, a region where L’Occitane has strong presence.
The acquisition is expected to close in the first quarter of 2019. Upon closing, Elemis will become a wholly-owned subsidiary of the L’Occitane International.