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FASHION | Staff Reporter, Hong Kong

Cosmetics brand L'Occitane's sales down 4.5% in Q2

Its sales decline eased, with figures in Asia showing growth.

HKEX-listed L'Occitane International's net sales declined 4.5% YoY to $401.82m (EUR342.46m) in Q2 FY2021, easing from a 22.2% drop in Q1 boosted by sales growth in Asia, the company announced.

In H1 FY2021, sales fell 13.1% YoY to $723.53m (EUR616.64m) at constant exchange rates.

Retail sales rebounded following the gradual reopening of stores in Europe and the Americas in Q2. Sales momentum in Asia continued, with H1 sales in China, Korea and Taiwan rising 30.5%, 37.4% and 15.3%, respectively.

The Group’s online channels also continued to outperform, recording an 80.8% surge in sales in H1. It accounted for 40.7% of the company's total net sales.

All of its brands recorded improvements in sales momentum in Q2 compared to Q1. L’Occitane en Provence particularly recorded a narrower sales decline of 4.1% in Q2, compared to 25.7% in Q1.

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