The international fragrance company achieved net income of $27.7 million in the first quarter ended March 31, 2020, up 175% from $10.1 million in the prior-year period, and 47% from $18.9 million in Q1 2019.
The New York-based fragrance company announced its financial guidance for fiscal 2021 on Tuesday, revealing hopes for a 49.1% year-over-year increase in diluted earnings per share after a difficult 2020.
European resale specialist Rebelle said this week that sustainability is the main reason for many consumers buying secondhand and that the Covid-19 crisis has boosted demand for luxury investment pieces.
Alibaba's 6.18 Mid-Year Shopping Festival (running on Tmall and Taobao) has seen a luxury surge. Almost double the number of luxury brands are participating compared to the last big event, 2019’s Singles Day in November