One day we may be a brand of Asian range

This is a first for a French company. L'Occitane, known for its creams shea nut or almond milk, will make its entry on 7 may on the stock exchange of Hong Kong. The launch of the subscription, the cosmetics manufacturer hopes to raise up to us $ 707 million, began this morning, at a cost of the action proposed between $ 12.88 to $ 15.08 Hong Kong. This offer is 25 of the capital of the company, which values the 2.8 billion (EUR 2.1 billion).

A true "success story" for this small Provençal company, master savonnier to debut in 1976, become an international group, with 4,700 employees and 1,500 stores in 80 countries. With growth by an average of 30 per year, its turnover was multiplied by 10 since 2000. He reached EUR 537 million in 2008-2009 (year ended late March), for a net result of EUR 59 million, and still is expected to grow 14 this year. "The Occitan must continue momentum."We thus needs funding. "The Hong Kong stock exchange offers us an interesting alternative to banks giving more value to the company," said Reinold Geiger, an Austrian businessman who bought the company in 1996 to its founder Olivier Baussan. Already in debt, L'Occitane have the wait at least two years to obtain new loans. Indeed, manufacturer conducted a LBO in 2007 to almost EUR 300 million, allowing his partner Clarins to reduce its participation to 10 for the benefit of management.

This rating on the stock exchange of Hong Kong should also establish the reputation of the brand in Asia, where the company already has 35 of its sales and wants to develop. "The Asia-Pacific region will continue to be an engine of growth in the coming years," noted André Hoffmann, Director General of the Group yesterday.

Especially do not relocate

Japan rest its first market in the world (24 of the turnover) - creams based on immortal lines make a cardboard - followed by the United States (17) and France (13). China, where it has 40 points of sale, part of the target. "We have a potential of 300 openings in the country note Reinold Geiger.". "China weighs only 3 of our sales." In total, the company is designed to open 650 stores in five years, in India, in Russia, and in the United States.

Funds raised in Hong Kong will also help L'Occitane to enlarge its two French factories, employing 750 people: the historical site of Manosque and Lagorce in Ardèche, where its bio mark Melvita is manufactured. Which will allow the group to double its production, and to expand its R & D lab. Cosmetics manufacturer will also create a new storage facility, or a total investment of EUR 50 million, with the key 139 jobs new. Not issue for its leader to relocate manufacturing from France. "What we sell is L'Occitane en Provence from local ingredients, if we produce, we wouldn't have the same success, provides.". One day, we may be a brand of Asian range.

This is the new ambitions of the Group: proceed with the acquisition of one or two brands of cosmetics based on natural. L'Occitane brand represents 95 of sales, and Melvita, specialized in bio care purchased in 2008, the rest. The company believes that it now has solid foundations, with 24 subsidiaries, to carry out its future developments. "We have built a House." "We will try to build a small hamlet," said the businessman. With goal to reach 1 billion euros of sales in the coming years.