Inter Parfums posts full year sales growth of 21 percent

Inter Parfums, Inc. announced that for the fourth quarter and full year ended December 31, 2023, net sales rose 6 percent to 329 million dollars and 21 percent to 1.32 billion dollars, respectively.

Commenting on the trading update, Jean Madar, chairman & CEO of Inter Parfums, stated: “With ongoing strength in the overall fragrance market and our successful distribution execution, we grew sales by 6 percent during the quarter. The better-than-expected performance in the final quarter culminated in 21 percent sales growth for the year, surpassing our guidance of 1.3 billion dollars.”

“Furthermore, compared to 2019, our sales were up 85 percent for both the fourth quarter and full year 2023,” Madar added.

The company’s European based operations grew sales by 2 percent, primarily due to Coach brand sales which rose 17 percent in the fourth quarter. For the full year, European based operations grew sales by 16 percent, led by the Coach, Jimmy Choo and Montblanc brands, which were up 25 percent, 19 percent and 15 percent, respectively.

For U.S. based operations, sales growth was 13 percent in the fourth quarter primarily driven by Donna Karan/DKNY with comparable quarter sales growing 21 percent. Guess and Ferragamo also saw mid-single-digit sales growth during the quarter, relative to the very high base in the prior year period. The Phase 1 roll-out of the iconic Abercrombie & Fitch Fierce fragrance, in select markets, boosted fourth quarter sales with further gains expected as the company launches Phase 2 in the spring.

For the full year, U.S. based operations grew sales by 33 percent, led by Donna Karan/DKNY, Guess, and Ferragamo achieving gains of 205 percent, 23 percent and 21 percent, respectively.

Madar further said: “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."