Inter Parfums reports record 2021 net sales
Inter Parfums Inc. has released its financial update for its 2021 net sales, showing record growth in both the North American and European markets.
For 2021, the company's full year net sales totalled over $879 million (£652 million), up 63% compared to 2020 and 23% against 2019.
In Europe, net sales increased by 23% to $663 million (£492 million) in comparison to 2019.
For Q4, the three months ending 31 December 2021, Inter Parfums' net sales across Europe and North America totalled $210.8 million (£156 million), a 15% increase from the fourth quarter of 2020 and 19% ahead of 2019.
The report also emphasised the company's 2021 successes, including Guess becoming its fourth brand with sales in excess of $100 million and "significant gains" made by its mid-sized brands, such as Abercrombie & Fitch, Hollister, Oscar de la Renta and Karl Lagerfeld.
Jean Madar, Chairman and CEO at Inter Parfums, said: “2021 was the best year in our history. Sales were at an all-time high. The new year has begun on a strong note. We have completed the integration of the Ferragamo and Ungaro brands and our new Italian subsidiary is now staffed and fully operational. We have a solid line-up of new product launches in the pipeline for many of our other brands.
"In sum, 2022 has all the earmarks of another superb year as the growth catalysts currently far outweigh the headwinds, most notably limited travel retail business and supply chain disruptions.”
Inter Parfums plans to issue its full financial results for 2021 and Q4 in early March 2022.