THE WHAT? L’Occitane Groupe is reportedly considering an initial public offering in the US as soon as this year, after being taken private by billionaire owner Reinold Geiger in 2024.
THE DETAILS The skincare group is said to be working with JPMorgan Chase & Co. and Morgan Stanley on the potential listing, according to sources familiar with the matter.
L’Occitane was taken private in 2024, ending its 14-year listing on the Hong Kong stock exchange, in a deal that valued the business at €6 billion on an equity basis.
Founded in 1976, the group operates eight brands—including Elemis, Sol De Janeiro and Melvita—and has a footprint of more than 3,000 locations across 90 countries. In its latest financial report, L’Occitane posted sales of €2.8 billion for the financial year ended March 31, 2025. The Americas represented its largest region at 46% of sales, followed by Asia Pacific at almost 30%.
THE WHY? A potential US IPO would signal renewed public market ambition for one of beauty’s largest multi-brand retail groups, at a time when investor focus remains concentrated on scale, global reach and strong growth engines—particularly in the Americas, which is currently L’Occitane’s biggest market by revenue contribution.
Source: Bloomberg
