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Inter Parfums posts strong sales growth, raises outlook

By Prachi Singh

Feb 1, 2022

Report

Image: MCM, Inter Parfums

Inter Parfums, Inc. net sales rose to 210.8 million dollars for the three months ended December 31, 2021, a 15 percent increase from the fourth quarter of 2020 and 19 percent ahead of the fourth quarter of 2019.

At comparable foreign currency exchange rates, the company said in a release, net sales increased 15 percent from the fourth quarter of 2020 and 14 percent compared to the fourth quarter of 2019.

Commenting on the company’s performance, Jean Madar, chairman & CEO of Inter Parfums stated: “2021 was the best year in our history. Guess became our fourth brand with sales in excess of 100 million dollars, joining Montblanc, Jimmy Choo and Coach. As compared to 2019, Montblanc’s 2021 sales grew by 7 percent, Jimmy Choo by 34 percent and both Coach and Guess by 41 percent. We also welcomed first time sales by our newest brands, notably Kate Spade, MCM, Ferragamo, and Moncler.”

The company added that for the 2021 full year, net sales rose to 879.6 million dollars, up 63 percent and 23 percent compared to 539 million dollars in 2020 and 713.5 million dollars in 2019.

“Our largest market, North America, achieved sales growth of 50 percent compared to 2019, while Western Europe and Asia grew sales by 9 percent and 15 percent, respectively, compared to 2019. Latin America and Eastern Europe also achieved top line growth of 22 percent and 26 percent, respectively, and only the Middle East had a decline in sales compared to 2019,” added Madar.

Commenting on the outlook, Russell Greenberg, executive vice president & CFO said: “With better-than-expected sales in the final quarter of the year, we’ve increased our guidance for 2021 net income per diluted share from 2.45 dollars to 2.65 dollars. We are also raising our 2022 guidance and now look for net sales of 975 million dollars resulting in net income per diluted share of 3 dollars.”

COACH
GUESS
Inter Parfums
Jimmy Choo
MCM
Montblanc