As the beauty market slows down, particularly in China, cosmetics retailers are making major moves. L'Occitane is delisting from the Hong Kong stock exchange, Sephora is changing governance in China, and Ulta is entering an era of slower growth. Here are some explanations.
In Europe, Asia and the U.S.A., the beauty market is showing signs of decline. While The Body Shop is threatened with closure and Estée Lauder is struggling to recover, L’Occitane could be taken over by Reinold Geiger, who owns almost 70% of the capital. On April 29, Bloomberg revealed that the Austrian billionaire was proposing a takeover bid for L’Occitane (annual sales of € 2.13 billion in the year to March 2023, +13.4% at constant exchange rates).
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Article authors
Morgane Monteiro
Journalist
Journaliste économique pour mind Retail depuis 2024, j’analyse la transformation digitale du commerce.
Sophie Baqué
Chief Editor of mind Retail