PR93062

GENEVA, November 15, 2021 /PRNewswire=KYODO JBN/ --

The L'OCCITANE Group, an international group that manufactures and retails

beauty and well-being products that are rich in natural and organic

ingredients, is pleased to announce its acquisition of a majority stake in Sol

de Janeiro, an innovative leader in the global prestige body care market. Born

of an authentic Brazilian philosophy of celebration and joy, Sol de Janeiro is

a fast-growing, award-winning lifestyle skincare brand beloved by

multi-generational, modern and global consumers from millennials to Gen Z.

Founded in the US in 2015 as a results-driven premium body care brand with

highly efficacious ingredients sustainably sourced from Brazil, Sol de Janeiro

is one of the fastest-growing premium skincare brands in North America, with

success across body care, fragrance and hair care products. It sells both

directly to consumers through its website and through various premium retailers

across the globe.

The acquisition is in line with the Group's strategy of building a leading

portfolio of premium beauty brands. Sol de Janeiro is a strategic fit for the

Group in terms of brand recognition and identity, product quality, management

capability, as well as growth, profitability and cash generation prospects. Sol

de Janeiro's digital presence and established body care business is

complementary to the Group's balanced geographical strategy to build a

portfolio of strong brands in all major geographical regions. Meanwhile, Sol de

Janeiro is expected to leverage the Group's international presence to expand

into new markets.

André Hoffmann, Vice-Chairman & Chief Executive Officer of L'OCCITANE, said,

'We are delighted to be further expanding our brand portfolio and accelerating

our transformation into a multi-brand and geographically balanced group. With a

compelling brand story and an experienced and entrepreneurial management team,

Sol de Janeiro reflects our values and premium beauty image.'

Heela Yang, Chief Executive Officer and Co-Founder of Sol de Janeiro, said, 'I

have always admired L'OCCITANE, a beautiful lifestyle brand anchored in a deep

commitment to sustainability, and we are thrilled to have found a home with the

Group to continue to drive our explosive growth. Furthermore, we are ecstatic

to have found a partner who so deeply respects our brand vision and values of

inclusivity, joy and self-celebration.'

The Group will acquire an 83% indirect interest in Sol de Janeiro. Upon

closing, Sol de Janeiro will become a majority-owned subsidiary of the Group.

Contact: groupcommunication@loccitane.com

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Source : L’OCCITANE Group