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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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Nykaa parent company falls below initial public offering price 

Nykaa parent company falls below initial public offering price 

THE WHAT? Nykaa parent company FSN E-Commerce Ventures has fallen below its initial public offering issue price of 1,125 rupees, according to a report by Reuters. 

THE DETAILS Shares of the Indian company fell as much of 2 percent this week. 

On November 10, 2021, the beauty giant made a debut on the domestic bourses with a 79 per cent premium over its IPO price of Rs 1,125  and in the days to follow, the stock touched a 52-week high of 2,574 on the NSE, according to New Indian Express. 

THE WHY? Nykaa’s fall is said to be in line with the drop of competitors, such as loss-making digital firms like Paytm, Zomato and Policybazaar. According to the New Indian Express, investors believe it will take years for these firms to break even and report a profit.

The post Nykaa parent company falls below initial public offering price  appeared first on Global Cosmetics News.



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