Inter Parfums reports 'record' Q3 sales

Inter Parfums has reported 'record' financial results for the third quarter and the first nine months of 2022.

For the third quarter, total sales increased 11.7% to £170.2 million (€195.3 million), compared to £152.3 million (€174.8 million) in the previous financial year. The group also saw a 19% increase in Western Europe sales to £26.4 million (€30.3 million).

For Q3, Inter Parfums' brand highlights include:

• Montblanc sales up 11% to £42.6 million (€48.9 million).
• Jimmy Choo sales up 32% to £50.3 million (€57.8 million).
• Coach sales up 3% to £37.9 million (€43.5 million).
• Lanvin sales down 32% to £9.3 million (€10.7 million).
• Rochas sales up 25% to £8.8 million (€10.1 million).
• Other brands sales up 20% to £21.1 million (€24.3 million).

For the first nine months, total sales increased to 16.5 % to £447 million (€514 million), compared to £384.2 million (€441.1 million). The group also saw a 34% increase in Western Europe sales to £79.5 million (€91.3 million).

For the first nine months, Inter Parfums' brand highlights include:

• Montblanc sales up 19% to £118.2 million (€135.8 million).
• Jimmy Choo sales up 23% to £111.3 million (€127.8 million).
• Coach sales up 17% to £96.8 million (€111.2 million).
• Lanvin sales down 12% to £32.6 million (€37.5 million).
• Rochas sales up 9% to £24 million (€28 million).
• Other brands sales up 22% to £64.2 million (€73.7million).

Based on the level of October’s sales and a backlog of orders that remains high, Inter Parfums has raised its guidance for 2022 full year revenue to £557-566 million (€640-€650 million).

Philippe Santi, Executive Vice President and CFO of Inter Parfums, said: “The increase in sales prices applied at the beginning of 2022 to offset the higher costs of raw materials and packaging, combined with the US dollar’s appreciation, will contribute to improving our gross margin in 2022. Based on these factors, we have also raised our operating margin target to 17% for the full year.”