02.28.24
Inter Parfums has reported its 2023 fourth quarter and full-year financial results. When compared to 2022, the company saw a 4% increase in Q4 and a 20% increase for the full year.
Chairman and CEO Jean Madar commented, “Ongoing demand for our brands, strong holiday season sell-through, and a dynamic fragrance market resulted in a strong 2023 fourth quarter and record full-year net sales and earnings results.”
Inter Parfums fragrance brand Ferragamo contributed to the 21% fragrance sales growth in 2023.
“We recently introduced the highly concentrated, four-scent luxury Cashmere Collection for Donna Karan and, across our brand portfolio, we have a vibrant pipeline of new product launches in the works unveiling throughout 2024 including a new blockbuster fragrance debuting for Lacoste,” Madar added.
Inter Parfums plans to establish growth in 2024 by restocking fragrance orders as well as developing omnichannel advertising strategies and promotional campaigns to enhance its fragrance portfolio.
Madar noted that all of Inter Parfums’ markets experienced growth: 22% in North America, 21% in Europe, 17% in Asia, 22% in the Middle East and 33% in South America.
Chief Financial Officer, Michel Atwood said, “We closed the year with $183 million in cash, cash equivalents and short-term investments, and working capital of $514 million resulting in a working capital ratio of 2.6 to 1.”
Chairman and CEO Jean Madar commented, “Ongoing demand for our brands, strong holiday season sell-through, and a dynamic fragrance market resulted in a strong 2023 fourth quarter and record full-year net sales and earnings results.”
Inter Parfums fragrance brand Ferragamo contributed to the 21% fragrance sales growth in 2023.
“We recently introduced the highly concentrated, four-scent luxury Cashmere Collection for Donna Karan and, across our brand portfolio, we have a vibrant pipeline of new product launches in the works unveiling throughout 2024 including a new blockbuster fragrance debuting for Lacoste,” Madar added.
Inter Parfums plans to establish growth in 2024 by restocking fragrance orders as well as developing omnichannel advertising strategies and promotional campaigns to enhance its fragrance portfolio.
Madar noted that all of Inter Parfums’ markets experienced growth: 22% in North America, 21% in Europe, 17% in Asia, 22% in the Middle East and 33% in South America.
Chief Financial Officer, Michel Atwood said, “We closed the year with $183 million in cash, cash equivalents and short-term investments, and working capital of $514 million resulting in a working capital ratio of 2.6 to 1.”
