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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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Itochu Corporation secures rights to sell TonyMoly in Japan

Itochu Corporation secures rights to sell TonyMoly in Japan

THE WHAT? Itochu Corporation has secured exclusive rights to distribute TonyMoly in Japan, according to a report published by Inside Retail Asia.

THE DETAILS The company will roll out the K-beauty brand from next month, working with Piala who is charged with marketing and PR and P2C who will take on the e-commerce and wholesale side.

THE WHY? The company said in a statement, per Inside Retail Asia, “Backed by increasing demand for Korean cosmetics brands, we will expand sales of existing products and excellent products that are not sold in Japan yet, and aim to achieve sales of ¥10 billion on a retail basis in three years.”

The post Itochu Corporation secures rights to sell TonyMoly in Japan appeared first on Global Cosmetics News.



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