Guess fragrances drive sales at Interparfums
Interparfums, Inc. has reported a 4% increase in net sales to £259 million ($324 million) for the first quarter ending 31 March 2024.
The company launched several new fragrances during the first quarter, including extensions within established lines for Oscar de la Renta and Anna Sui, as well as new additions from Montblanc, Karl Lagerfeld, Kate Spade and Lacoste, amongst others.
Guess achieved the greatest sales gain at 21% for the quarter, with a "very strong" innovation calendar for the remainder of the year. Multi-scent collections for the brand launch this spring, with a new member of the Guess Uomo men’s fragrance family to follow in autumn.
Interparfums said it has an "ambitious" innovation strategy planned for 2024, also including blockbuster fragrances for DKNY and Lacoste, and extensions for the Jimmy Choo I Want Choo line and Roberto Cavalli Signature line. Extensions for Hollister’s Feelin’ Free and Ferragamo’s Signorina will also be unveiled later in the year.
The company added that it remains "confident" in its future launches, and believes it is well positioned to achieve another year of "substantial" growth, particularly in the second half of 2024.
Jean Madar, Chairman and CEO of Interparfums, said: "As expected, following the exceptional sales performance in the first quarter of last year, driven by the introduction of numerous new products, sales growth moderated during the current first quarter.
"We increased advertising and promotional investments in the first quarter to fuel business growth throughout the year and to compensate for lighter new product launches than in the prior year.
"Our decision to spend significantly more during the fourth quarter of 2023, combined with higher spending this quarter, is proving to be a winning strategy as it enables us to drive sell-out ahead of sell-in. Additionally, we are continuing to develop compelling content and implement omnichannel concepts with fragrance enthusiasts to further expand our reach and exposure in meaningful ways.
"The fragrance market is resilient, and we are determined to continue to gain market share by implementing our strategies effectively. We believe the favorable market conditions and prevailing tailwinds will far outweigh any challenges we may encounter."
Founded in 1982, Interparfums, Inc. develops, manufactures and distributes prestige perfumes and cosmetics as the exclusive worldwide licensee for brands including Abercrombie & Fitch, DKNY, Hollister, Karl Lagerfeld, Kate Spade and Moncler.
