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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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US talc suits blocked while Johnson & Johnson Chapter 11 appeal in progress

US talc suits blocked while Johnson & Johnson Chapter 11 appeal in progress

THE WHAT? A US judge has stayed two court cases brought by states against Johnson & Johnson over the safety of its talc products pending the outcome of an appellate court review of the US baby care manufacturer’s bid to resolve all claims via the Chapter 11 bankruptcy process, according to a report published by Reuters.

THE DETAILS Litigation in New Mexico and Mississippi has been paused for now and will be revisited in December. Both states had argued that an order issued in February, 2022 blocking talc suits applied only to private litigation.

THE WHY? Johnson & Johnson is in the midst of a restructuring process known as the Texas two-step, designed to bring an end to the 38,000 lawsuits it faces over the safety of its talc products. To this day, the US manufacturer maintains that its baby powder poses no risk to human health.

The post US talc suits blocked while Johnson & Johnson Chapter 11 appeal in progress appeared first on Global Cosmetics News.



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