Interparfums annual sales rise as it remains 'confident' for year ahead

Interparfums, Inc. has reported a 21% increase in net sales to $1.3 billion for the year ending 31 December 2023.

European-based product sales grew 16% to $862 million, while US-based product sales lifted 33% to $456 million.

Growth was driven by Coach, Jimmy Choo and Montblanc in Europe, which were up 25%, 19% and 15%, respectively.

For the fourth quarter, Interparfums shared the following results:

• Total net sales up 6% to $329 million.
• European-based product sales up 2% to $200 million.
• US-based product sales up 13% to $128 million.

Jean Madar, Chairman and CEO of Interparfums, said: "The better-than-expected performance in the final quarter culminated in 21% sales growth for the year, surpassing our guidance of $1.3 billion.

"Of note, the quarterly growth rate in comparison to the full year reflects the elevated sales baseline from the preceding year. Furthermore, compared to 2019, our sales were up 85% for both the fourth quarter and full year 2023.

"Our stimulating pipeline of innovative products across our portfolio of brands, now inclusive of Lacoste and Roberto Cavalli, a fully operational Italian affiliate in Florence, Italy, and our dynamic positioning within the industry, strengthen our confidence in gaining further market share in the years ahead and deliver another record year in 2024."

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.