10.24.24
Interparfums announced a record quarter that for the three months ended September 30, 2024, net sales rose to $425 million, up 15% from $368 million in the third quarter of 2023.
Jean Madar, Chairman & Chief Executive Officer of Interparfums, stated,
“Sales in the current third quarter were the highest for any quarter in our history. The ongoing strength of the global fragrance market, the solid performance of our largest brands, and the addition of our newest brands, Lacoste and Roberto Cavalli, which contributed 10% to our growth, led to our record top line performance.”
Net sales in Europe increased by 21% compared to Q3 2023. This was mostly led by Jimmy Choo and Montblanc, with 17% and 10% sales growth, respectively. Coach sales rose roughly 32%.
In the United States sales grew 12% in the first half of 2024, and Q3 sales rose 9% compared to 2023.
Guess was the largest driver of growth in the U.S. in Q3, with legacy scents and the new Guess Iconic scent, which had large success. The second driver of growth in the U.S. was the brand duo Donna Karan/DKNY, which grew 4% in Q3 with the new DKNY 24/7 scent.
Madar concluded,
“It's been a great year so far, and we are well positioned in this growing, dynamic, and competitive marketplace to support our retailers and distributors, as we build upon our past successes with innovative new products supported by well-planned and executed advertising and promotional programs.”
Interparfums also reaffirmed its previously announced 2024 guidance of net sales of $1.45 billion.
Jean Madar, Chairman & Chief Executive Officer of Interparfums, stated,
“Sales in the current third quarter were the highest for any quarter in our history. The ongoing strength of the global fragrance market, the solid performance of our largest brands, and the addition of our newest brands, Lacoste and Roberto Cavalli, which contributed 10% to our growth, led to our record top line performance.”
Net sales in Europe increased by 21% compared to Q3 2023. This was mostly led by Jimmy Choo and Montblanc, with 17% and 10% sales growth, respectively. Coach sales rose roughly 32%.
In the United States sales grew 12% in the first half of 2024, and Q3 sales rose 9% compared to 2023.
Guess was the largest driver of growth in the U.S. in Q3, with legacy scents and the new Guess Iconic scent, which had large success. The second driver of growth in the U.S. was the brand duo Donna Karan/DKNY, which grew 4% in Q3 with the new DKNY 24/7 scent.
Madar concluded,
“It's been a great year so far, and we are well positioned in this growing, dynamic, and competitive marketplace to support our retailers and distributors, as we build upon our past successes with innovative new products supported by well-planned and executed advertising and promotional programs.”
Interparfums also reaffirmed its previously announced 2024 guidance of net sales of $1.45 billion.
