L'Occitane has acquired British skincare brand ELEMIS for US$900 million. ELEMIS is owned by Steiner Leisure, a portfolio company of private equity firm L Catterton. According to ELEMIS, its products garner strong cross-generational consumer appeal, specifically attracting Millennials while maintaining loyal Gen X and Baby Boomer consumers.
The skincare brand also capitalises on five strategic distribution channels – digital, retail distribution, QVC, professional spa and maritime – to drive awareness, trial, conversion and retention across the omni-channel.
Reinold Geiger, chairman and chief executive officer of L'Occitane said ELEMIS is well positioned for continued global growth due to the brand's broad appeal, product portfolio, robust new product development pipeline and effective consumer-focused digital and brick-and-mortar distribution strategy. He added that L'Occitane will be utilising its expertise in the category to expand ELEMIS' footprint around the world.
Sean Harrington, co-founder and chief executive officer of ELEMIS said this agreement with L'Occitane will strengthen the continued growth and momentum behind ELEMIS' brand and transformative products. According to Harrington, Geiger has a strong history of developing and supporting brands 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 realise our mission of delivering extraordinary products and experiences and grow ELEMIS into one of the leading skincare brands in the world," he added.