French Skincare Group L’Occitane Mulling Potential $7B IPO in the U.S.

French skincare and beauty company L’Occitane is reportedly weighing up a $7 billion IPO in the U.S.

U.S. Banks Picked

According to a report in Bloomberg, L’Occitane, taken private by billionaire owner Reinold Geiger in 2024, has enlisted U.S. banks JPMorgan Chase & Co (JPM) and Morgan Stanley (MS) to work on the potential listing.

It is reportedly weighing a U.S. listing as a way to tap broader capital markets and potentially secure a higher valuation than it might get in Hong Kong or Europe.

L’Occitane produces natural skincare, beauty and organic cosmetics products. It reported annual sales of €2.8 billion in 2025, its first financial results since being taken private, ending its 14-year listing on the Hong Kong stock exchange. That was up 11.7% on the previous year.

Its body care brand Sol de Janeiro was a huge driver, as was its fragrance Cheirosa, which was the best-selling beauty brand in North America.

British skin care brand Elemis, meanwhile, contributed 10.1% of sales, with its signature Pro-Collagen range a bestseller in the U.K.

Skin Market Growing

There is a lot of growth to go at with the global skincare products market size estimated at $155.84 billion in 2025 and set to reach $202.77 billion by 2033. Growing awareness among consumers about skincare, wellness, and the importance of maintaining healthy skin has led to an increased demand for skincare products.

An IPO would also help maintain a healthy start to 2026 for U.S. listing announcements. This includes aerospace and defense technology company L3Harris (LHX) and its plans to list its rocket motors business, with miner BitGo and construction group EquipmentShare also looking to go public. Other big names which might list this year include Anthropic and OpenAI.

What Other IPOs are in the Pipeline?

Let’s look at other IPOs in the pipeline with the TipRanks IPO calendar.