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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

Ushopal acquires Argentum Apothecary

Ushopal acquires Argentum Apothecary

THE WHAT? Ushopal has acquired Argentum Apothecary for an undisclosed sum, according to a report published by WWD. The Chinese firm’s buyout of the British clean beauty brand follows on from a financing round in which Ushopal led back in late 2021.

THE DETAILS Ushopal specializes in scaling brands targeted at the all-important Gen Z demographic and is credited with contributing to Argentum’s rapid rise in popularity in China, generating sales of US$50 million annually. Argentum Founder & CEO Joy Isaacs is set to remain at the helm of the clean beauty brand.  

THE WHY? Ushopal is said to be building its portfolio with a view to becoming China’s leading luxury beauty conglomerate. For Argentum, the appeal is continued growth, as Isaacs attests, “We have always had a strong connection with China, and we’ve seen incredible brand growth in the past few years. As one of the leading brand management groups in China, we believe the forge of this partnership will shape the future of Argentum in Asia and the world.” 

The post Ushopal acquires Argentum Apothecary appeared first on Global Cosmetics News.

* This article was originally published here


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