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Interparfums FY 2022: record earnings as operating profit soars 33 percent

THE WHAT? Interparfums has reported its results for the 2022 fiscal year. The fragrance giant recorded record earnings for the full year with net income up 40 percent on 2021’s figures and sales rising 26 percent to €706.6 million. THE DETAILS The company noted that it had extended its partnership with Montblanc until December 31, 2030 and, subject to the General Meeting’s ratification, hit its goal of achieving gender parity on its board. THE WHY? Philippe Benacin, Chairman and CEO, commented, “Against the backdrop of a turbulent economic and geopolitical environment, our sales and earnings continued to grow in 2022. In 2023, although many uncertainties still exist, this positive momentum should continue with sales expected to reach €750 million, driven by the continuing appeal of our brands for consumers in a global perfume market that remains buoyant.” The post Interparfums FY 2022: record earnings as operating profit soars 33 percent appeared first on Global Cosme
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Thanksgiving's More Expensive Than Ever—Now What?

Thanksgiving's More Expensive Than Ever—Now What?

These days, it’s hard to go even an hour without hearing about supply chain issues, both in the United States and abroad. With shortages on everything from beauty products to toilet paper (again) to food, consumers are going to have to plan early and most likely spend more this holiday season. The Farm Bureau estimates that Thanksgiving 2021 will cost $46.90 for a group of 10, but to loosely quote our president, that’s a load of malarkey.

A typical Thanksgiving feast will likely feature at least a 12 to 14 lb. turkey, mashed potatoes, an assortment of vegetable side dishes, dinner rolls, a few kinds of pie, and most likely some good wine. Even if you’re not serving a heritage turkey, rolls with cultured butter, and mashed potatoes with truffles, Thanksgiving is pricy and this year, The New York Times says that it will be the most expensive feast ever. “There is no single culprit,” writes Times reporter Kim Severson. “The nation’s food supply has been battered by a knotted supply chain, high transportation expenses, labor shortages, trade policies, and bad weather.”

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