Beauty and wellbeing company L’OCCITANE Group is set to acquire an 83% stake in premium body care brand Sol de Janeiro, which will become a subsidiary of L’OCCITANE Group upon closing.
Sol de Janeiro is an innovative skincare brand that offers a wide range of body care, fragrance and haircare products and has a powerful direct-to-consumer and global retail network.
Sol de Janeiro was founded in the US in 2015 and has quickly grown to become one of the fastest-growing body care brands in North America, the company said.
It offers sustainable, cruelty-free, vegan body care formulas with a strong message of inclusivity and diversity.
The acquisition is in line with L’OCCITANE Group’s strategy to build a powerful portfolio of premium beauty brands worldwide.
According to L’OCCITANE Group, Sol de Janeiro is a strategic fit for the company in terms of brand recognition, product quality, management capability and profitability. In addition, its strong digital presence and established body care business in North America complements the group’s balanced geographical strategy and will help it expand into new markets.
“We are delighted to be further expanding our brand portfolio and accelerating our transformation into a multi-brand and geographically balanced group,” commented L’OCCITANE Group Vice Chairman and Chief Executive Officer André Hoffmann. “With a compelling brand story and an experienced and entrepreneurial management team, Sol de Janeiro reflects our values and premium beauty image.”
Sol de Janeiro Chief Executive Officer and Co-Founder Heela Yang added, “I have always admired L’OCCITANE, a beautiful lifestyle brand anchored in a deep commitment to sustainability, and we are thrilled to have found a home with the Group to continue to drive our explosive growth. Furthermore, we are ecstatic to have found a partner who so deeply respects our brand vision and values of inclusivity, joy and self-celebration.”
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