Kommersant: L’Occitane stores in Russia may be renamed again
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French perfume and cosmetics brand L’Occitane may reopen stores under a new name, SoBeautiful. figured out “Kommersant”.
On April 15, L’Occitane stores closed, but at the end of May they resumed their work under the sign “L’Occitane”. In early December, the Russian management, which bought out the company’s local business, filed applications for the registration of SoBeautiful and SouBeautyful trademarks. The same name can also be found on the website of the Russian online store of the retailer, as well as in the domains of employees’ email addresses, the newspaper notes.
According to the publication’s source in the retail market, the registration of the new trademark, which has no direct association with L’Occitane, is connected with the parent company’s dissatisfaction with Cyrillic branding. Experts interviewed by the newspaper expect the company to lose some of its customers, as Marina Malakhatko, head of the CORE.XP retail department, noted, with a forced rebranding, a business usually loses up to 15% of customers.
As before wrote Vedomosti, the new owners of the Russian business of L’Occitane are CEO Rostislav Kovalenko with a 31% stake in the authorized capital, as well as New Brands Development Director Olga Sabirova, Logistics Director Alexei Shumov and CFO Natalya Milekhina with a 23% stake.
All shares are under encumbrance, where the former owner, L’Occitane International SA, registered in Luxembourg, is the pledgee. The value of the Russian business of L’Occitane at the beginning of 2022 was estimated at no less than 6 billion rubles. In total, L’Occitane had 112 outlets in Russia and an online store.
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