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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

Skin + Me raises €11 million in Series B funding round

Skin + Me raises €11 million in Series B funding

THE WHAT? Skin + Me has raised more than €11 million in a Series B funding round. The round was led by Octopus Ventures, according to a report published by EU-Startups.

THE DETAILS Launched in 2020, the subscription-based dermatology brand offers custom-made treatments containing prescription-only actives.

“Octopus Ventures takes pride in backing companies that incite positive and actionable change,” Will Gibbs, Partner, Health, Octopus Ventures, reveals. “Increased awareness in prescription ingredients and a growing trend towards personalisation has transformed the skin care market. Skin + Me lead the charge with its accelerated growth reflecting a step change that’s seen hyper-educated consumers shun off-the-shelf products in favour of highly efficacious solutions. Across Series A and Series B funding, Octopus Ventures has invested a total of £13m to develop Skin + Me — deepening the relationship, and demonstrating their faith in the brand’s market-leading personalisation strategy.”

THE WHY? Horatio Cary, Co-Founder and CEO of Skin + Me, told EU Start-ups, “The global skin care industry is worth £140 billion and more than 50 percent of consumers are dissatisfied because they want a product that works. We built Skin + Me to make medical skincare, proven to be far more effective than any cosmetic products through decades of clinical studies, accessible to everyone. Loyalty and customer love for our products followed because they deliver results.

“We’ve seen consumer awareness for prescription-only ingredients such as tretinoin grow exponentially. We expect the £140 billion global skin care spend to shift quickly towards prescription-strength ingredients and Skin + Me is ideally placed as the market leader in the UK to take advantage of this trend.”

The post Skin + Me raises €11 million in Series B funding round appeared first on Global Cosmetics News.

* This article was originally published here


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