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L’Occitane Names New Group CEO

Laurent Marteau has been named CEO of the L’Occitane Group, effective April 1, the Hong-Kong listed company announced Monday.
L'Occitane hotel amenities.
Marteau is stepping into a new, dual-functional role. (Courtesy)

Marteau joined L’Occitane in 2022 as group managing director and will maintain those responsibilities; L’Occitane said in a statement that the new chief executive officer position will be a combined role.

Interim CEO André J. Hoffman will step down and remain an executive director and board member, the company said. Hoffman has been acting vice-chairman since 2016, and took on the CEO role in 2021. It’s under Hoffman’s tenure that blockbuster acquisitions like Sol de Janeiro and Grown Alchemist have taken place. Body care line Sol de Janiero has been a particular boon, with Gen-Z popularity driving its sales to increase 174 percent to $290 million in the first half of the 2024 fiscal year. Net sales for the group were $1.13 billion, up 25 percent.

The company said Marteau’s appointment will support its goal of becoming a “geographically balanced, multi-brand group”.

In Sept. 2023, trading of the company’s shares was temporarily suspended following a Bloomberg report that Reinold Geiger, the company’s billionaire majority shareholder, had sought to delist the company, though L’Occitane later said it had not received a firm offer nor entered a definitive agreement.

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Before joining L’Occitane, Marteau held a number of senior management roles for LVMH and the La Prairie Group, with particular experience in travel retail.

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