L’OCCITANE makes its IPO on the Hong Kong Stock Exchange to further expand in Asia
French premium cosmetics group L’OCCITANE which also includes OLIVIERS&CO annouced its listing on the Hong Kong Stock Exchange. Its first IPO is set to raise more than EUR 700 million which will therefore finance its aggressive expansion in Asia.
As included in several previous analysis, CPP believes L’OCCITANE’s over-expansion endangers not only the quality of its products but also the positioning of the brand. From the point of view of luxury positioning L’OCCITANE has been advancing through its strategic partnership with hotel chains such as FOUR SEASONS, yet at the same time, its wide availability and positioning near L’OREAL and NIVEA in all major international airports has been compromising its luxury positioning. Recently, L’OCCITANE expanded its products range into a full line of make up.
CPP-LUXURY.COM revealed late 2009 that although L’OCCITANE state all their products are Made in France, we have discovered L’OCCITANE products Made in Egypt.
L’OCCITANE’s sister brand OLIVIERS &CO remains in a luxury market positioning, most of its corners and stores being present only in select locations.