L'Occitane gains listing on Hong Kong stock exchange

Published: 29-Mar-2010
Finance

French natural cosmetics group L\'Occitane has been given approval to list on the Hong Kong stock exchange

French natural cosmetics group L'Occitane has been given approval to list on the Hong Kong stock exchange for an initial public share offering of between $400m and $600m. The flotation could potentially take place in May and will make L’Occitane the first French company to list in Hong Kong. 

L'Occitane has seen strong growth in the region and Asia now accounts for about 40% of total sales. Sources are now being quoted as saying that the listing makes sense in terms of L'Occitane's strategy of penetrating the Chinese market and its plans for regional growth. Its products are viewed in Asia as affordable luxury items.

The company was set up in 1976 at Manosque in upper Provence and posted sales in the 12 months to March 2009 of $731m with 86% of total sales coming from international markets.
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