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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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China’s Giant Biogene Holding and Shanghai Chicmax Cosmetic to launch IPOs in Hong Kong

China’s Giant Biogene Holding and Shanghai Chicmax Cosmetic to launch IPOs in Hong Kong

THE WHAT? Chinese skin care firms, Giant Biogene Holding and Shanghai Chicmax Cosmetic have been given the go-ahead to float on the Hong Kong stock exchange, according to a report published by the South China Morning Post.

THE DETAILS Chicmax has been mulling the move for some time and considered listing on the Shanghai stock exchange in the past while Giant Biogene Holding filed back in May.

THE WHY? Both firms said that they planned to invest the funds raised in R&D, per the South China Morning Post, with Giant Biogene Holding also planning to invest in manufacturing capacity and build up its sales and distribution network, while Chimax will invest further in branding. The Hong Kong listings are part of a wider trend that has seen Chinese firms eschew New York in favor of their home market.

The post China’s Giant Biogene Holding and Shanghai Chicmax Cosmetic to launch IPOs in Hong Kong appeared first on Global Cosmetics News.



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