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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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Google and Meta lose advertising prowess as TikTok, Netflix and Amazon continue to dominate 

Google and Meta lose advertising prowess as TikTok, Netflix and Amazon continue to dominate 

THE WHAT? Alphabet Inc’s Google and Facebook parent company Meta are no longer ranking in the majority of US digital advertising dollars for the first time in a decade, according to estimates from research firm Insider Intelligence Inc.

THE DETAILS The two largest players are expected to continue to decline for years to come, according to industry insiders. 

The companies accounted for 48.4 percent of U.S. digital ad-spend in 2022, the first time their dual U.S. market share has dropped under 50 percent since 2014. This is expected to fall to 44.9 percent in 2023. 

While the ad businesses of both companies are continuing to grow, according to Insider data it is at a slower rate than the rest of the U.S digital-ad market.

Both Google and Meta reportedly faced hurdles in 2022 as people spent less time online than when the pandemic first hit. 

THE WHY? While Google and Meta falter, Amazon, ByteDance’s TikTok and streaming service such as Netflix are continuing to increase their foothold. 

According to Insider, TikTok’s hold on the digital ad market more than doubled in 2022, while Amazon gained market share due to its ad business being able to target users by their purchase and browsing history. 

The post Google and Meta lose advertising prowess as TikTok, Netflix and Amazon continue to dominate  appeared first on Global Cosmetics News.



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