the giant officially announced its delisting! lu han, zhu yilong, zhao lusi and others have endorsed
2024-09-15
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recently, beauty giantl'occitaneit announced its official delisting, ending its 14-year listing on the hong kong stock exchange.until the last trading day before delisting, l'occitane's total market value was approximately hk$49.7 billion, equivalent to rmb 45 billion.the "hermes" of hand creams is officially delistedpublicaccording to data, l'occitane entered the chinese market in 2005 and established its first store in shanghai. in 2010, l'occitane group was listed on the main board of the hong kong stock exchange, becoming the first french company to be listed in hong kong. the brand's hand cream is known as the "hermes" of hand creams and is very popular among consumers.in recent years, the company's revenue has increased significantly by signing celebrity spokespersons such as lu han, zhu yilong, gong jun, and zhao lusi.on april 29, l'occitane announced that reinold geiger, chairman of the l'occitane group, proposed to acquire the l'occitane shares it did not hold at a price of hk$34 per share, with a transaction valuation of 6 billion euros (approximately rmb 46.544 billion), and planned to delist l'occitane shares from the hong kong stock exchange. l'occitane stated in the announcement that this was done to allow the existing management team to continue to stay and operate the company's business, and privatization would enable it to invest more flexibly and implement strategies more effectively.in addition, blackstone and goldman sachs alternative investments provided committed funding support of 1.551 billion euros (approximately 12.2 billion yuan) for the privatization of l'occitane.on august 6, l'occitane announced that it would send a compulsory acquisition notice to all remaining shareholders to compulsorily acquire all remaining shares. l'occitane applied to the hong kong stock exchange to suspend share trading at 9:00 a.m. on september 13, 2024 until the share listing status is withdrawn.china remains its second largest market worldwidejudging from performance, l'occitane's revenue and net profit have generally shown an upward trend since its listing.according to the financial report for fiscal year 2024, during the reporting period, l'occitane's full-year net sales increased by 19.1% year-on-year to 2.542 billion euros; operating profit decreased by 2.5% from fiscal year 2023 to 233 million euros, with an operating profit margin of 9.2%; net profit was 93.89 million euros, down 18.4% year-on-year. in fiscal year 2023, the company's net profit fell by 52.4% year-on-year.in terms of single market, the chinese market became l'occitane's largest market in the world for the first time in fiscal 2021, accounting for 17% of sales. however, in fiscal 2024, this proportion dropped to 12.9%, and the chinese market retreated to l'occitane's second largest market in the world. despite the decline in sales share, l'occitane affirmed the performance of the chinese market in fiscal 2024, and pointed out in the financial report that the asia-pacific region achieved a considerable growth of 6.3% at a constant exchange rate in fiscal 2024, mainly due to the strong growth of 19.3% in the chinese market at a constant exchange rate, which mainly benefited from the continued development of the two brands l'occitane en provence and elemis.
