its IPO in 2010, the company announced that its products were sold in over 80 countries through over 1,500 retail locations; it had 753 L'Occitane Stores. In the year ended 31 March 2009, it generated sales of €537.3 million. It planned over 650 store openings with the capital raised. In 2013, the company employed 6,600 people worldwide and created a new brand L'Occitane au Brésil, focused on products from Brazil. In 2021, the company's US unit filed for Chapter 11 bankruptcy proceedings in New Jersey. In 2021 L’Occitane Group acquired the US beauty brand Sol de Janeiro, valued in US$450 million. In March 2022, L’Occitane acquired a majority stake in the Australian skincare brand, Grown Alchemist. Following 2022 Russian invasion of Ukraine, L'Occitane announced it would continue to keep its Russian stores open on the grounds that it wanted to protect its staff from potential retaliation. Several days later L'Occitane reversed their decision announcing that it would be closing its Russian shops and website. Nevertheless, Russian stores are still supplied with products, only as a separate legal entity with a new name (Л'Окситан). Listing In March 2010, the listing committee of the Hong Kong Stock Exchange approved its plan for a $400–$600 million initial public offering of L'Occitane International S.A., underwritten by CLSA, HSBC and UBS which the company had originally planned in 2008, but postponed because of the 2008 financial crisis. The company stated that two-thirds of the proceeds would be used to finance store openings. China Investment Corporation invested US$50 million in the company's IPO as the cornerstone investor (for approximately 1.9% of the shares). Following the listing of shares in L'Occitane International SA, L'Occitane Groupe SA retains 75% of the shareholding of the company; shares owned by Geiger, Clarins and other shareholders are indirect. Beauty products All of L'Occitane's products are developed and produced from its base in Manosque, where 1,000 employees work. The company sources the majority of its production from Provence and one of their main product l'Immortelle plants (Helichrysum italicum) from Corsica from producers who rely on traditional production methods. L'Occitane contributes to preserve traditional cultivation methods by: Supporting the program to cultivate almond trees in the Alps of Haute-Provence. Preserving certain rare species through the planting of their own field of Immortelle flowers in Corsica. Developing partnerships with organisations that support the development of scented and aromatic plants, such as the Office National