2023: AMOUAGE REPORTS OUTSTANDING RESULTS WITH SALES GROWING BY +24%

Annual retail sales of the Omani High Perfumery House have more than doubled over the past three years, now surpassing $210 million, reflecting industry-leading growth momentum and unprecedented global demand for Amouage creations.

MUSCAT, Oman, Feb. 22, 2024 /PRNewswire/ -- In its 40^th anniversary year, Amouage saw its annual growth reaching +24%, driven by ambitious expansion plans and growth across all key regions. Retail sales in European markets increased by over 39%, boosted by standout performance at flagship department stores. In the Asia-Pacific region, Amouage achieved a staggering 28% growth, while Americas marked a growth of over 21%. In the GCC region, standout countries were Oman, where sales grew by 33% like-for-like, and the United Arab Emirates, where sales increased over 30%.

Amouage boutiques recorded growth of 27% fueled by strong client demand behind the rollout of the proven architectural concept with powerful stand-alone, mono-brand luxury retail experiences across key geographies, including China, USA, UAE, Travel Retail as well as Malaysia and Oman.

Amouage's strongest performing markets have remained Oman, the UAE, the USA, and China, which together account for over 40% of the total revenue. Reflecting the House's commitment to creating personalised, omni-channel experiences, amouage.com sales grew by over 31%.

Marco Parsiegla, Chief Executive Officer of Amouage, said: "Our record sales in 2023 highlight a resounding customer demand across all product lines from Amouage. Our sustained strong performance has been achieved against a volatile macroeconomic backdrop and reflects our unwavering commitment to creativity, quality, and desirability when it comes to our products and distribution networks. Creations such as Guidance Eau de Parfum, which became our global bestselling line, further cemented Amouage's position as one of the best-performing High Perfumery Houses."

In 2023, Amouage continued to captivate the world with its finely crafted perfumes, propelled by an innovative, creative and contemporary vision that resulted in the remarkable appeal of new creations as well as iconic lines. Each batch of the premium priced Exceptional Extraits, featuring category leading concentrations and ageing time, sold out in record time with the collection commanding a solid 10% share of total sales.

Amouage demonstrated remarkable resilience, successfully navigating through market uncertainties including supply challenges and significantly improved fulfillment rates by a double-digit percentage following a comprehensive restructuring of the end-to-end supply chain.

With its expanding international footprint, Amouage has step-changed its commitment to sustainability objectives, embracing responsible practices in the development and ethical sourcing and harvesting of natural ingredients. Initiatives such as the preservation of Frankincense trees at the UNESCO heritage Wadi Dawkah site and the pioneering endeavor to establish the first-ever smart forest in the GCC region underscored Amouage's commitment to environmental stewardship and innovation, setting new benchmarks within the industry, contributing to a brighter, greener future.

In 2023, Amouage's commitment to arts and crafts was recognised across the world via ten prestigious international perfumery awards. The house has achieved unprecedented desirability and stood out as the leading voice online towards the fragrance community, which is testament to its strength and uniqueness. As Amouage continues to stay ahead of the curve while loyal to its Omani heritage and roots, the House remains focused on creation, innovation, tradition and positively impacting its clientele and the world.

ABOUT AMOUAGE

Amouage is an independent Omani High Perfumery House renowned for creating some of the most finely crafted perfumes in the world. Founded in the Sultanate of Oman in 1983 to be 'The Gift of Kings', the House has redefined the Arabian art of perfumery and garnered a global reputation for bringing innovative modernity and true artistry to all its creations. Masterfully paying tribute to its heritage, Amouage is a unique fusion of East meets West that defines avant-garde opulence. Today, it expresses the contemporary majesty of Oman - a historic trading center for incense - around the globe, with arresting and alluring collections that speak to a sophisticated, confident and well-traveled discerning clientele who seek something compellingly precious, extraordinary and personal, every day.

Amouage creations have charmed a global audience and are now available in close to 100 countries around the world. The House's international presence encompasses 14 standalone boutiques including the recently opened flagships in the US, China, UAE, Malaysia and Travel Retail, and a highly selective network of approximately 1,000 of the world's finest department stores, perfumeries, and airports.

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