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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 percen...
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EU to charge ‘polluting’ cosmetics firms for wastewater treatment

EU to charge ‘polluting’ cosmetics firms for wastewater treatment

THE WHAT? The European Union is mulling new legislation that would require cosmetics manufacturers to contribute to the cost of wastewater treatment, according to a report published by the Financial Times.

THE DETAILS The European Commission claims that 92 percent of toxic micropollutants in water derive from pharmaceutical and personal care products and therefore the manufacturers of these harmful substances should pay for their removal. If passed, the new regulations would come into force in 2024 and require manufacturers to cover approximately a quarter of the cost of wastewater treatment.

THE WHY? The Financial Times, quoting draft legislation, revealed that charging the polluters ‘will significantly reduce the load of micropollutants entering surface and groundwaters’ by both incentivising the development of more environmentally friendly products and also ensuring the cost of treating wastewater properly is met.

The post EU to charge ‘polluting’ cosmetics firms for wastewater treatment appeared first on Global Cosmetics News.



* This article was originally published here
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