L’Occitane Group acquires majority stake in Sol de Janeiro
L’Occitane Group is expanding its beauty offerings.
Recently, the company announced the acquisition of a majority stake in the highly popular Sol de Janeiro brand.
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“We are delighted to be further expanding our brand portfolio and accelerating our transformation into a multi-brand and geographically balanced group,” André Hoffmann, vice-chairman and chief executive Officer of L’Occitane said. “With a compelling brand story and an experienced and entrepreneurial management team, Sol de Janeiro reflects our values and premium beauty image.”
Born out of the authentic Brazilian philosophy of celebration and joy, Sol de Janeiro’s offerings include the Brazilian Bum Bum Body Cream, Brazilian Crush Cheirosa ’62 Bum Bum Hair and Body Fragrance Mist, and Bom Dia Bright Body Cream with Vitamin C among other skin and body care products.
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“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,” Heela Yang, chief executive officer and co-founder of Sol de Janeiro, said. “Furthermore, we are ecstatic to have found a partner who so deeply respects our brand vision and values of inclusivity, joy and self-celebration.”
Through this acquisition, L’Occitane Group will hold a 83% indirect interest in the brand, and upon closing, Sol de Janeiro will become a majority-owned subsidiary of the company.