L'Occitane International S A : L’Occitane Announces Unaudited Quarterly Update for the Period Ended 30 September 2019

[For Immediate Release]

L'Occitane International S.A.

49, Boulevard Prince Henri L-1724 Luxembourg

R.C.S. Luxembourg: B80359

(Incorporated under the laws of Luxembourg with limited liability)

L'Occitane Announces Unaudited Quarterly Update

For the Period Ended 30 September 2019

FY2020 Q2 net sales grew across the board, up 21.7% at constant rates

ELEMIS the main growth driver with over 30% unaudited growth

Sales growth of L'OCCITANE en Provence accelerates further to 7.2%

(22 October 2019, Hong Kong) L'Occitane International S.A. ("L'Occitane" or the "Group"; SEHK stock code: 973), an international group that manufactures and retails beauty and well-being products that are rich in natural and organic ingredients, today announces the unaudited quarterly update for the period ended 30 September 2019.

Net sales for the three months ended 30 September 2019 ("FY2020 Q2") were €374.7 million, an improvement of 21.7% at constant rates and 25.5% at reported rates compared to the same period last year.

Net sales in the six months ended 30 September 2019 ("FY2020 H1") were €727.2 million, an improvement of 19.0% at constant rates and 22.1% at reported rates compared to the same period last year.

Performance by brand:
	€'000	Q2		%	%
	FY2020		FY2019	Growth	Growth(1)
	L'OCCITANE en Provence	287,492		259,953	10.6	7.2
	ELEMIS(2)	43,693		-	-	-
	LimeLife	19,962		18,124	10.1	5.2
	Others(3)	23,518		20,542	14.5	10.1
	Total	374,665		298,619	25.5	21.7
	€'000	H1		%	%
	FY2020		FY2019	Growth	Growth(1)
	L'OCCITANE en Provence	554,889		511,454	8.5	5.7
	ELEMIS(2)	84,207		-	-	-
	LimeLife	40,702		41,049	(0.8)	(5.9)
	Others(3)	47,359		42,882	10.4	7.6
	Total	727,157		595,385	22.1	19.0

1. Excludes foreign currency translation effects.
2. ELEMIS was acquired on 1 March 2019 but its sales and profits have not been consolidated by the Group until April 2019. ELEMIS's sales in March 2019 were then reported together in the first quarter ended 30 June 2019.
3. Others include the emerging brands Melvita, Erborian and L'OCCITANE au Brésil.

L'Occitane Announces Unaudited Quarterly Update For the Period Ended 30 September 2019 22 October 2019/ Page 2

Performance by geographical area:
	€'000	Q2		%					%
	FY2020		FY2019	Growth				Growth(1)
	Japan	53,027		47,598		11.4			2.4
	Hong Kong	34,437		30,765		11.9			6.3
	China	40,922		34,517		18.6			17.0
	Taiwan	7,812		7,237		7.9			4.7
	France	24,882		22,487		10.6			10.6
	UK(2)	40,922		12,892	217.4			220.1
	USA	65,535		46,732		40.2			33.7
	Brazil	12,524		11,242		11.4			6.4
	Russia	11,763		9,677		21.6			14.4
	Other geographic areas(3)	82,843		75,472		9.8			9.2
	Total	374,665		298,619		25.5			21.7
		H1		%			%	%
	€'000						SSS
	FY2020		FY2019	Growth		Growth(1)
				Growth(1)
	Japan	107,255		96,164	11.5			4.2	(0.3)
	Hong Kong	58,298		58,436	(0.2)			(5.6)	(19.0)
	China	76,653		67,845	13.0			12.7	5.7
	Taiwan	15,067		14,360	4.9			2.5	1.9
	France	48,657		45,450	7.1			7.1	6.7
	UK(2)	76,810		23,173	231.5			234.7	2.7
	USA	133,555		100,367	33.1			26.0	(4.0)
	Brazil	26,457		23,869	10.8			10.2	1.0
	Russia	22,370		18,614	20.2			15.3	4.1
	Other geographic areas(3)	162,036		147,107	10.1			9.8	5.4
	Total	727,157		595,385	22.1			19.0	1.7

1. Excludes foreign currency translation effects.
2. Growth in the UK included contribution from ELEMIS.
3. Includes sales from Luxembourg.

The Group's encouraging top-line performance was due to decent growth in FY2020 Q2 across all of its brands and in all key geographic areas. The Group's major channels also recorded growth, with key contributions from retail, marketplace, web partners and wholesale sales.

In FY2020 H1, Sell-out sales accounted for 66.1% of net sales and amounted to €480.9 million, an increase of 7.1% at constant rates as compared to the same period last year. The Group's Web Sellout channels (including ELEMIS) grew by 40.8% at constant rates, equivalent to 16.2% of total Sell-out sales. Same store sales growth during the period was 1.7%.

In FY2020 H1, Sell-in sales accounted for 33.9% of net sales and amounted to €246.2 million, an increase of 51.5% at constant rates as compared to the same period last year. The increase was primarily driven by ELEMIS.

In FY2020 Q2, the Group's core L'OCCITANE en Provence brand experienced dynamic sales, with growth accelerating from 4.1% in FY2020 Q1 to 7.2% at constant rates. This was attributed to the continuous global success of the Immortelle Resetserum and attractive new product offerings (such as the Herbaeand limited-editionCherry Blossomranges).

L'Occitane Announces Unaudited Quarterly Update For the Period Ended 30 September 2019 22 October 2019/ Page 3

ELEMIS also performed well with sales accelerating in FY2020 Q2, contributing the most to the Group's overall growth. Unaudited sales growth was over 30% in FY2020 Q2 and exceeded expectations. LimeLife sales returned to growth in FY2020 Q2 after a slow Q1, as a result of new launches and the fading out of the high base impact resulting from the brand's rebranding exercise last year. Other brands continued to perform well with Erborian, in particular, recording more than 40% growth in FY2020 Q2.

In terms of geographic areas, the UK was the Group's fastest-growing market with more than 200% growth in FY2020 H1, which was mainly contributed by ELEMIS. Excluding ELEMIS, growth in the UK was 10.8% at constant rates. The US grew 26.0% in FY2020 H1, also mainly contributed by ELEMIS. Excluding ELEMIS, growth in the US was -5.1%, which resulted from the closure of 12 L'OCCITANE en Provence stores and the high base impact of LimeLife. China, Brazil and Russia all posted double-digit growth in FY2020 H1. Meanwhile, retail sales in Hong Kong continued to decline as economic and social factors dampened consumer sentiment, although this impact was more than offset by higher travel retail sales in the region.

Mr. Reinold Geiger, Chairman and Chief Executive Officer of L'Occitane, said, "We are extremely pleased with the top-line growth we are seeing across the board, both in terms of brands and geographies. Despite increasing concern about the health of consumer sentiment in various markets around the world, our performance has remained robust."

"It is excellent to see ELEMIS, our recent acquisition, becoming our biggest growth driver, with LimeLife also returning to growth. For our core L'OCCITANE en Provence brand, we will continue to build on the positive feedback on recent product launches as we gear up for the holiday season, which is traditionally our peak sales period."

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About L'Occitane International S.A.

L'Occitane International S.A. is an international group that manufactures and retails beauty and well-being products that are rich in natural and organic ingredients. A global leader in the premium beauty market, the Group has more than 3,000 retail outlets, including over 1,500 owned stores, and is present in 90 countries. Through its six brands - L'OCCITANE en Provence, Melvita, Erborian, L'OCCITANE au Brésil, LimeLife by Alcone and ELEMIS - the Group offers new and extraordinary beauty experiences, using high quality products that respect nature, the environment and the people who surround it.

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