L'Occitane International, the Hong Kong-listed French cosmetics group, is poised to delist from the stock market after securing support from minority shareholders for its privatisation bid.

The company announced on Wednesday that 91.97 per cent of shareholders had accepted the share offer, comfortably surpassing the threshold required to initiate a squeeze-out of remaining investors.

L'Occitane Holding, a subsidiary of the group's controlling shareholder, will now proceed with the compulsory acquisition of outstanding shares, marking the final stage in the company's privatisation process.

Reinold Geiger, L'Occitane's majority owner, hailed the strong backing from shareholders. "This transaction will provide our group with the flexibility to make longer-term business decisions," he said. Mr Geiger emphasized the company's continued commitment to its brand-specific and geography-specific strategies, expressing confidence that the move would enhance L'Occitane's competitiveness in the global skincare and cosmetics market.

The offer will close on August 6, after which compulsory acquisition notices will be dispatched to remaining shareholders. Trading in L'Occitane shares is set to be suspended from August 7 until the formal delisting from the Hong Kong Stock Exchange.

This development comes amid a broader trend of take-private deals in Hong Kong, as companies seek greater operational flexibility away from the public markets. Industry analysts suggest that L'Occitane's privatisation could allow for more agile decision-making and potentially pave the way for strategic repositioning in an increasingly competitive beauty sector.

The move also reflects the challenging environment for consumer goods companies, particularly in the premium segment, as they navigate shifting consumer preferences and economic uncertainties in key markets.