(AOF) – Jacques Bogart publishes a turnover for the first quarter of 2023 up 17.2%, to 64.8 million euros against 55.3 million euros in the same period last year. For this new 2023 financial year, the perfumer anticipates further growth in brand activity, whose development potential remains high. He specifies that the new launches of perfumes and cosmetics will be mainly positioned in the second half of this year. It intends to regain better operational efficiency in the 2023 financial year with a strong recovery in its profitability.
The active plan to deploy new products on the brands, coupled with the benefit of expanding the visibility of the April network to new territories (Slovakia, United Arab Emirates, etc.) will contribute to supporting the Group’s two activities.
New launches are planned for the second half with a new Silver Scent fragrance, a men’s launch on the Parfums Ted Lapidus brand and a new men’s/women’s duo for Carven (Carven is Paris La Nuit).
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Market boom for several more years
According to Bain & Company, the global luxury market (fashion, cars, hotels, wines and spirits, cruises, etc.) will have recorded a 21% jump in sales in 2022, to 1,384 billion euros. The luxury personal products segment (jewellery, clothing, watches, leather goods, etc.) should grow by 22% and again grow by 3% to 8% in 2023 despite the expected economic slowdown. Growth should continue in the following years, with an increase that should reach 60% by 2030! According to Bain, spending by Americans in Europe has more than doubled between 2019 and 2022. This development is largely explained by a strong dollar. The Chinese market, on the other hand, is at half mast due to the “zero Covid” policy and strict confinements.