L’OCCITANE International S.A., the leading manufacturer and retailer of natural cosmetics with a portfolio of premium beauty brands, recently announced that it has entered into an agreement to acquire ELEMIS, the luxury British skincare brand, for $900 million in cash from Steiner Leisure Limited.
Founded in 1990, ELEMIS is a world leader in prestige skincare and a preeminent independent British skincare brand. ELEMIS’ prides itself on a strong cross-generational consumer appeal, “with a proven ability to attract Millennials while maintaining loyal Gen X and Baby Boomer consumers.”
L’Occitane International S.A is a global leader in the premium beauty market that uses high quality products that respect nature and the environment. The group has more than 3,000 retail outlets in 90 countries. ELEMIS will become part of a portfolio that includes L’OCCITANE en Provence, Melvita, Erborian, L’OCCITANE au Brésil and LimeLife by Alcone.
Reinold Geiger, Chairman and Chief Executive Officer of L’OCCITANE said in a statement:
“We are pleased to welcome the ELEMIS business, brand and people to the L’OCCITANE family. It is a major step forward for L’OCCITANE in building a leading portfolio of premium beauty brands. ELEMIS is well positioned for continued global growth due to the brand’s broad appeal, award-winning product portfolio, robust new product development pipeline and effective consumer-focused digital and brick-and-mortar distribution strategy. 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.”
Sean Harrington, Co-Founder and Chief Executive Officer of ELEMIS said:
“We are thrilled to announce this agreement with L’OCCITANE, which will strengthen the continued growth and momentum behind our timeless brand and remarkably transformative products. Reinold Geiger has a strong history of developing and supporting brands like ours that are creating products sourced from nature and developed through cutting edge science and technology. With his inspiring and entrepreneurial leadership, I am confident that through this transaction, we can continue to realize our mission of delivering extraordinary products and experiences and grow ELEMIS into one of the leading skincare brands in the world.”
The purchase is expected to close in the first quarter of 2019.
L’OCCITANE has more than 90 spas in 30 countries, including the UK, Japan, Brazil, and France. Spa L’OCCITANE comes in three different formats. These include “Flagship Spas,” offering the ultimate brand experience in a luxurious setting; “Spas By,” located in 5 star hotels around the world; and “Petit Spa,” smaller spaces that are connected to L’OCCITANE stores.
ELEMIS has three flagship spas: The House of ELEMIS London, ELEMIS Day Spa Miami, and ELEMIS Day Spa Bangkok. You will also find ELEMIS in the world’s 5 star resort spas and in more than 1600 independent spas around the world.
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