After launching a formal big privatization in April, the French cosmetic conglomerate has won over enough minority shareholders. It will move forward with the compulsory takeover of the remaining shares and L'Occitane International will delist its shares from the Hong Kong Stock Exchange (HKEX), and take them back into private hands. WHO: The L'Occitane Group is a leading international manufacturer and retailer of premium and sustainable beauty and wellness products. The Group operates in 90 countries worldwide and has 3,000 retail outlets, including over 1,300 of its own stores. Within its portfolio of premium beauty brands that champion organic and natural ingredients are: L’Occitane en Provence, L’Occitane au Brésil, Melvita, Erborian, start-up lab Duolab launched in 2020, LimeLife by Alcone, Elemis, Sol de Janeiro, and Dr. Vranjes Firenze.WHY: The company attributed the move to rising competition in the luxury goods market and the complications of operating as a listed company. The latest move will allow it to concentrate on updating its main brands but also hinted at a possible future relisting, if the circumstances are right, or even selling the company at some future date.IN THEIR OWN WORDS: Reinold Geiger said, "We are delighted with the strong support from our shareholders. This transaction will provide our group with the flexibility to make longer-term business decisions. We remain committed to our brand-specific and geography-specific strategies.