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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

Humane Society International welcomes Brazil’s animal testing ban

Humane Society International welcomes Brazil’s animal
testing ban

THE WHAT? The Humane Society International has praised regulators for South America’s largest beauty market for ushering in a partial ban on animal testing for cosmetics. Brazil’s National Council for the Control of Animal Experimentation has outlawed animal testing for beauty ingredients with ‘known effects’ and provided for alternative testing methods for ‘unknown ingredients’.

THE DETAILS The solution is partial as the agency does not have legal jurisdiction to restrict the marketing of cosmetics that have been tested on animals but a federal bill that purports to end animal testing for cosmetics in Brazil has cleared the Senate and is awaiting approval by the Chamber of Deputies, HIS said.

THE WHY? Humane Society International Government Affairs Specialist in Brazil, Antoniana Ottoni, commented, “We are thrilled to see our efforts come to fruition after a decade of campaigning resulting in state bans and federal progress. This new Brazilian norm is a welcome next step in the right direction and something for which we have long advocated. However, a domestic testing ban on its own will not prevent the import and sale of newly animal-tested cosmetics from other countries. This will put our personal care industry at a competitive disadvantage, and fall short of the cruelty-free beauty sector that Brazilian consumers have made clear that they want. For this reason, our work to secure a federal law must continue, and we look forward to working with the Chamber of Deputies to build on this positive momentum to see a federal law in place this year.”

The post Humane Society International welcomes Brazil’s animal testing ban appeared first on Global Cosmetics News.



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