L’Occitane Names New Group CEO

Marteau joined L’Occitane in 2022 as group managing director and can keep these tasks; L’Occitane stated in a press release that the brand new chief govt officer place can be a mixed position.

Interim CEO André J. Hoffman will step down and stay an govt director and board member, the corporate stated. Hoffman has been appearing vice-chairman since 2016, and took on the CEO position in 2021. It’s beneath Hoffman’s tenure that blockbuster acquisitions like Sol de Janeiro and Grown Alchemist have taken place. Physique care line Sol de Janiero has been a selected boon, with Gen-Z recognition driving its gross sales to extend 174 % to $290 million within the first half of the 2024 fiscal 12 months. Web gross sales for the group had been $1.13 billion, up 25 %.

The corporate stated Marteau’s appointment will assist its aim of turning into a “geographically balanced, multi-brand group”.

In Sept. 2023, buying and selling of the corporate’s shares was quickly suspended following a Bloomberg report that Reinold Geiger, the corporate’s billionaire majority shareholder, had sought to delist the corporate, although L’Occitane later stated it had not obtained a agency provide nor entered a definitive settlement.

Earlier than becoming a member of L’Occitane, Marteau held numerous senior administration roles for LVMH and the La Prairie Group, with specific expertise in journey retail.

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