L’OCCITANE Group has struck an agreement to sell British prestige skincare brand Elemis to private equity firm PAI Partners. The purchase price was not disclosed.
The deal follows seven years of L’OCCITANE Group ownership, during which Elemis nearly doubled net sales to more than US$300 million in the financial year to 31 March 2026.
By region the US now accounts for around half of Elemis’ net sales, following several years of double-digit annual growth in the market. Nearly half of Elemis sales overall are generated online through its own direct-to-consumer platform and digital partners. The brand also has a strong presence in travel retail as well as beauty retailers and spas.
PAI Partners has pinpointed strengthening the brand in the UK, accelerating its US expansion and pursuing growth in key markets and channels as key priorities.
Elemis was founded in 1989 and is centred on discovery, high-quality ingredients and biotechnology with expertise in spas and professional treatments. The brand offers cleansers, serums, moisturisers and specialist skincare treatments including its hero Its Pro-Collagen range.
Under PAI’s ownership, Elemis plans to invest in its core Pro-Collagen range and accelerate product development while retaining its focus on spa-led skincare.
“Elemis has played a special role in the history of our Group,” commented L’OCCITANE Group Chairman and CEO Reinold Geiger said. “As our first major acquisition, it marked an important step in our evolution as a true multi-brand group. I am grateful for everything they have contributed and proud of the growth created together.”
Geiger added: “The exceptional quality of Elemis’ products and the loyalty they inspire have built a strong business with significant potential. This transaction reflects a disciplined portfolio decision, focused on creating long-term value for the Group. I am confident Elemis will continue to thrive under PAI’s ownership and wish the team every success.”
Partners at PAI, Gaëlle d’Engremont and Colm O’Sullivan, added: “Elemis is a distinctive British skincare brand with exceptional products, a strong commitment to innovation and a loyal global following. Its premium positioning, clinically proven product performance and strong digital engagement set it apart in an attractive and resilient skincare market.
“We see significant opportunities to accelerate growth in the US and expand the brand’s digital business, while preserving its distinctive British identity. Drawing on PAI’s international experience and consumer-sector expertise, we look forward to partnering with the Elemis team to support its next phase of growth and development.”
Elemis CEO and Co-Founder Noella Gabriel said: “Over the past seven years, with the support of L’OCCITANE Group, we have strengthened and grown the Elemis business, built a compelling product proposition, and created a truly differentiated customer and retail experience. We look forward to building on this progress, bringing our exceptional skincare products to even more people while staying true to our brand, heritage and values.
“We are grateful to L’OCCITANE Group for its support and excited to take Elemis into its next phase of growth in partnership with PAI.”
The transaction is expected to close in the first quarter of 2027, subject to customary regulatory approvals and closing conditions. ✈
