Interparfums raises guidance after 'strong' US and European operations
In light of "better-than-expected" fourth quarter sales, Interparfums, Inc. has raised its guidance for the financial year ending December 31 2022.
The global fragrance company now expects full-year 2022 net sales of £898 million ($1.08 billion), up from its previous guidance of £852 million ($1.025 billion). As a result, Interparfums is now looking at a 23% increase in net sales against 2021.
Jean Madar, Interparfums, Inc. Chairman & CEO, said: “The final quarter of the year was exceptionally strong for both our US and European based operations. Indicators and order levels point to a continuation of strong sales growth in 2023, which enables us to also increase our sales guidance for 2023 from $1.11 billion to $1.15 billion."
The company, which has fragrance license agreements with Jimmy Choo, DKNY and Hollister, plans to announce its final 2022 sales on or around 23 January 2023, followed by full year results on or around 28 February 2023.
The announcement follows the company's record third quarter results, which saw total sales increase 11.7% to £170.2 million (€195.3 million). Interparfums also reported a 19% increase in Western Europe sales to £26.4 million (€30.3 million).
