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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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AS Beauty diversifies into skin care with acquisition of Bliss

AS Beauty diversifies into skin care with acquisition of Bliss

THE WHAT? AS Beauty has announced that it has acquired skin care brand, Bliss from L Catterton. The purchase is AS Beauty’s fifth acquisition since 2019 and its first foray into the skin care market.

THE DETAILS Terms of the deal were not disclosed but WWD pegs the brand’s revenue at more than US$40 million.

“It is very exciting for the Bliss brand to enter its next chapter of growth with AS Beauty, their operational excellence, and strong digital expertise will accelerate the brand growth and mission of making the Bliss brand accessible to all,” says Meri Baregamian, CEO of Bliss.

THE WHY? Ralph Azrak, Chief Operating Officer of AS Beauty, explains, “The acquisition of Bliss marks the next phase of growth for AS Beauty. Our approach to business development has allowed us to find exponential success in growing brands in the mass and traditional beauty space, and we are excited to use our resources and strategies to break into the skincare category and take this business to even greater heights.”

The post AS Beauty diversifies into skin care with acquisition of Bliss appeared first on Global Cosmetics News.



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