L’Occitane Group and Puig report financial growth despite volatile market
L’Occitane Group has reported annual sales of €2.8 billion (US$3.26 billion) for its financial year 2025, which ended in March. Puig has released its H1 report, showing net revenue of €2.3 billion (US$2.67 billion), mainly attributed to its Skin Care, Fragrance, and Makeup segments.
L’Occitane Group attributed 31.6% of sales to Sol de Janeiro, which it acquired in 2021, and 48.4% to L’Occitane en Provence. Net sales grew by 11.7% at a constant rate compared to the previous year.
The French beauty company’s financial report reads: “This is a solid performance amid increasingly complex market conditions.” The company emphasizes that the premium beauty industry has undergone profound shifts.
The fastest-growing brand was Erborian, a Korean skin therapy brand. The fastest-growing region was the North Americas, accounting for 46.4% of sales, followed by Asia Pacific (APAC) with 29.7%. Sales in the Europe, Middle East, and Africa region were 23.8%.
The fastest growing channel was wholesale, accounting for 44.8% of sales, followed by online channels with 29.2% and retail with 26%.
L’Occitane Group chose to privatize last year. “Post-privatisation, the Group has refined its governance structure to balance oversight and brand autonomy for a stronger and more agile organization in the years to come,” says the company.
“The Group starts the new financial year 2026 with cautious optimism, as we navigate an uncertain and volatile macroeconomic environment. As a global group with a diversified portfolio of premium beauty brands, we are more resilient to brand- or region-specific pressures. Looking to the future, we believe we are well-positioned to drive healthy and sustainable growth.”
Piug’s LFL growth across segments was reported at 8.6% for Skin Care and 2% for Makeup.Financial growth for beauty
Meanwhile, the Barcelona-based beauty and fashion company, Puig, reported like-for-like (LFL) growth of 7.6% and reported growth of 5.9%.
The LFL growth across segments was reported at 8.6% for both the Skin Care segment and Fragrance and Fashion. Meanwhile, the Makeup segment grew by 2%.
The Makeup segment contributed to 15% of Puig’s net revenue, totaling €339 million (US$395 million). Skin Care accounted for 12% of net revenue, totaling €276 million (US$321.6 million).
The company says LFL growth was seen across all geographies, and reports 16.5% for APAC and 10.9% for the Americas.
“In the first half of 2025, we delivered strong and consistent revenue growth of 7.5% LFL growth in Q1 and 7.7% in Q2,” says Marc Puig, chairman and CEO of Puig.
Puig says fragrance continues to show healthy underlying growth after several strong quarters, although at a slightly more moderate pace.
