L’Occitane goes greener: takes stake in vegan start up Le Rouge Français
The French cosmetic company has made the transaction via incubator Obratori. The value of the investment has not been disclosed.
L’Occitane takes a step forward in organic cosmetic. The French group has taken a minority stake in the organic and vegan cosmetic start up Le Rouge Français. The transaction, which value has not been disclosed, has been made via group’s incubator, Obratori.
Le Rouge Français was launched in October 2018 and is specialized in vegan and organic lipsticks. The company is run by Elodie Carpentier and her husband, Salem Ghezaili. L’Occitane wants to boost the expansion of the French brand with the opening of new points of sale. “We support the development of cosmetics and wellness companies, which have proven efficacy in their products,” stated Obratori.
L’Occitane has taken the stake via Obratori, the incubator the group launched in 2018
L’Occitane opened Obratori in 2018, following the steps of other competitors, which have their own incubators such as L’Oréal or Shiseido. Nowadays, eight start ups are part of the project.
In January, L’Occitane acquired British skincare company Elemis. The firm has control over L’Occitane en Provence, Melvita, Erboriano L’Occitane au Brésil, Limelife, as well as Elemis. Its products are sold in more than 90 countries.
The French cosmetic group reported net sales of 727 million euros for the first half of its fiscal year, ended September 30, representing 22.1% increase compared to the same period last year.
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