The average time taken for L'OCCITANE LIMITED to pay invoices to suppliers has fluctuated over the past three periods, with a slight decrease from 2020-2021 followed by an increase in 2022-2023. However, overall, there has been a general upward trend in the average time to pay since 2019.
The volatility of L'OCCITANE LIMITED's payment patterns can be seen in the varying percentages of invoices paid within 30 days and later than 60 days. There were significant changes in these percentages between the periods of 2020-2021 and 2022-2023, indicating a lack of consistency in payment behavior.
| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Apr 2023 - 30 Sept 2023 | 30 Jan 2024 | 30 | 64% | 27% | 9% | 28% |
| 01 Oct 2022 - 31 Mar 2023 | 30 Jan 2024 | 36 | 62% | 25% | 13% | 33% |
| 01 Apr 2022 - 30 Sept 2022 | 30 Jan 2024 | 36 | 60% | 23% | 17% | 36% |
| 01 Oct 2021 - 31 Mar 2022 | 30 Jan 2024 | 38 | 58% | 27% | 15% | 30% |
| 01 Apr 2021 - 30 Sept 2021 | 30 Jan 2024 | 30 | 66% | 23% | 11% | 23% |
| 01 Oct 2020 - 31 Mar 2021 | 29 Apr 2021 | 35 | 58% | 29% | 13% | 51% |
| 01 Apr 2020 - 30 Sept 2020 | 23 Oct 2020 | 31 | 56% | 33% | 11% | 61% |
| 01 Oct 2019 - 31 Mar 2020 | 15 Sept 2020 | 25 | 67% | 30% | 3% | 70% |
| 01 Apr 2019 - 30 Sept 2019 | 15 Sept 2020 | 20 | 81% | 18% | 1% | 53% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Company policy on new suppliers contracts are to be 60 days from date of invoice. Our terms may vary depending on type of service for example rent, utilities, temporary labour.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
60
The account payable team handles the vendor queries by telephone and email. In turn the team will reach out to other departments or external consultants, where applicable, should further information or clarification is required. On resolution a payment can be made.
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
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Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
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Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
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Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
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During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
L'Occitane Limited is registered in the UK with a stated business of retail sale of cosmetic and toilet articles in specialised stores. Evidence gathered relates mainly to Spa L'Occitane en Provence, a wider group brand offering spa treatments and beauty rituals inspired by Provence, with destinations in locations such as France, Taiwan, Brazil, Greece and Corsica. This spa and wellbeing activity appears to belong to the broader L'Occitane group rather than to the registered UK entity itself, which is best understood as the group's UK arm handling retail sale of cosmetics and toiletries through specialised stores, rather than operating spas directly.
Generated from the company's website and Companies House records. Sources: spa.loccitane.com