Interparfums annual sales mark "best year in history"
Interparfums, Inc. has reported a 24% increase in net sales for the year ending 31 December 2022, marking its "best year in history" with "record" fourth quarter sales.
For the fourth quarter, the company saw net sales rise 47% to £252 million ($311 million). At comparable foreign currency exchange rates, consolidated net sales increased 57%.
Sales continued to increase at brands including Montblanc, Jimmy Choo, Coach and GUESS?, with many of its other fragrance brands also achieving "stellar comparable quarter growth".
In Europe, fourth quarter net sales increased 45% to £159 million ($197 million), compared to £110 million ($136 million) in 2021. This was largely driven by growth across Moncler, Kate Spade and Boucheron.
For the full year, net sales grew to £882 million ($1.087 billion) against £714 million ($880 million) in 2021. At comparable foreign currency exchange rates, consolidated net sales increased 30%.
The reported finances are above the company's previous guidance, which was set out earlier this month. Interparfums raised its guidance from £852 million ($1.025 billion) to £898 million ($1.08 billion), expecting a 23% rise in net sales against 2021.
Jean Madar, Chairman & CEO of Interparfums, said: “As we reported earlier this month, the fourth quarter of 2022 was exceptionally strong, ushering in the best year in our history.
“We believe 2023 is going to be a great year, a productive year and a demanding year. For our European operations, we will be rolling out new pillars for Kate Spade, Coach and Moncler. The return of popular seasonal scents for Jimmy Choo and Lanvin; additions to multi-scent collections for Van Cleef & Arpels and Karl Lagerfeld, plus a host of special programs, extensions and flankers for established fragrance families are also in the 2023 pipeline.
"As we have announced, we will also use all this year to prepare the takeover of the Lacoste fragrance business in January 2024, opening new avenues of growth and development thanks to its scale and unique positioning as a fashion sports brand.”
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.