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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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LVMH signs first energy saving deal with Chinese mall owner

LVMH signs first energy saving deal with Chinese mall owner

THE WHAT? LVMH has announced that it has signed its first partnership with a leading shopping mall owner as part of its wider policy to reduce its energy consumption.

THE DETAILS The partnership with Hang Lung Properties will see the luxury goods conglomerate cooperate with the owner of more than 100 malls across China to achieve its LIFE 360 sustainability objectives by implementing the new standards laid out in LVMH’s strategy.

Hang Lung will turn off shops’ lights outside business hours, and install meters to enable LVMH to track energy consumption at its stores. The duo’s objective is to reduce their collective environmental impact whole ensuring the health of consumers and employees.

THE WHY? The initiative consolidates efforts to achieve the LVMH Group’s announced target of a 10 percent cut in energy consumption worldwide by October 2023. Antoine Arnault, LVMH Image and Environment, explains, “The design of our stores, like that of our products, is inspired by LVMH’s core values of creativity, innovation and excellence. And this of course means guaranteeing the environmental performance of our over 5,550 stores around the world. We are thus delighted with the unprecedented scope of this agreement with Hang Lung Properties. Our collaboration will allow us to expand our environmental commitments, especially with regards to climate.”

The post LVMH signs first energy saving deal with Chinese mall owner appeared first on Global Cosmetics News.



* This article was originally published here
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