Cosmetics group L’Occitane recently broadened its brand offerings by acquiring the prestigious Italian home fragrance label, Dr. Vranjes Firenze. While the exact deal amount remains undisclosed, L’Occitane, known for brands like L’Occitane en Provence, Sol de Janeiro, and Elemis, views this acquisition as a strategic move to enhance its high-end brand portfolio with a balanced geographical reach.
Established in 1983 by Dr. Paolo Vranjes, the renowned Florentine label specializes in home fragrances, scented candles, and an expanding range of body perfumes. With a presence in 75 countries, Dr. Vranjes Firenze operates through 28 boutiques and around 650 retail locations.
In 2007, the Bluegem fund acquired a 70% stake in Dr. Vranjes Firenze, which reported a turnover of 43 million euros in 2023. Notably, the brand recently resumed direct operations in Japan, its second-largest market after Italy.
The acquisition process is expected to finalize by the end of the first quarter of 2024, according to L’Occitane’s statement. In its fiscal year 2023/24’s first half closing on September 30, the cosmetics group revealed a revenue increase of 18.5% (or 24.9% at constant exchange rates), amounting to 1.07 billion euros. The American skincare brand Sol de Janeiro, acquired in late 2021, remains a significant growth contributor, registering a remarkable 173.9% sales increase, reaching 270 million euros.
