Sources: L'Occitane wants to return to the stock market, two years after delisting

French skincare chain L'Occitane Group is approaching the stock market again, hiring banks JP Morgan Chase & Co. and Morgan Stanley to evaluate a possible initial public offering (IPO) in the United States, according to sources cited by Bloomberg, modaes.com reports.

The operation, which is expected to take place this year, would represent the return to the stock market of L'Occitane, a company that was delisted in 2024, when Reinold Geiger and a group of investors (including Blackstone), took control of the cosmetics group. The sources mention that discussions are still ongoing, and the timing of a possible listing may change.

The French company was delisted after more than two decades in which it was present on the Hong Kong Stock Exchange, a move that valued the company at 6 billion euros.

Representatives for L'Occitane, JPMorgan and Morgan Stanley declined to comment on a possible stock market return.

• L'Occitane has a network of 3,000 stores in 90 markets

Founded in 1976, L'Occitane has grown into a cosmetics group that operates eight brands, including its namesake brand, as well as others such as Sol de Janeiro, Melvita and Elemis. The company now has more than 3,000 stores in 90 markets.

The cosmetics group achieved sales of 2.8 billion euros in the 2025 financial year (ended March 2025), up 11.7% from the previous fiscal year at constant exchange rates. With almost half of this business (46%), the Americas are the company's largest market, followed by Asia with 30% of the total, with the Middle East and Africa accounting for the rest. The company stated at the time of reporting: "Fiscal year 2025 was a turning point for the L'occitane Group, as it went private. As the premium cosmetics industry is undergoing profound changes, privatization was a natural evolution for the Group, allowing us to focus on our purpose, fundamental values and sustainable growth. The Group begins the new financial year with cautious optimism as we navigate an uncertain and volatile macroeconomic environment. As a global group with a diversified portfolio of premium cosmetics brands, we are more resilient to brand-specific or region-specific pressures.”

In February last year, L'Occitane renewed its management team by co-opting Didier Lalance as CEO. Lalance, who has long experience in companies such as Lacoste and Kering, took over from Laurent Marteau.