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CEO Jean Madar attributes the 11% increase to a “robust” fragrance environment.
August 9, 2024
By: Lianna Albrizio
Associate Editor
Inter Parfums, Inc. reported results for the second quarter and six months ended June 30, 2024.
Net sales increased 11% in Q2 2024 from a reported $309 million to a $342 million. For the first six months, revenue saw a 7% increase from $621 million to $666.
CEO Jean Madar attributes the increases to a robust fragrance environment, strength of its legacy brands, a rapid “ramp-up” of it new brands, effective advertising activity and global distribution footprint.
Interparfums’ three largest markets – North America, Western Europe and Asia/Pacific – grew sales by 5%, 11% and 6%, respectively. Central and South America’s sales growth was 26%, thanks in large part to Lacoste fragrance sales, while our sales in the Middle East and Africa rose by 8%. Sales in Eastern Europe declined in the first half of 2024 due to sourcing constraints associated with the ongoing conflict, but the company is currently seeing signs of improved sourcing in the region as the current second quarter is generally in-line with the prior year period.
“We are proud of our half-year performance, particularly with consideration of the outstanding results in the prior year period,” said Madar. “Our strategic approach to balancing launches and our advertising and promotional investments are paying off, and we anticipate further momentum in the back half of the year.”
Looking to 2025, the company is into planning new scents for its Coach brand fragrances, Guess Iconic for men, a new collection for MCM, new extensions of the legacy Lacoste scent, Montblanc Explorer, Jimmy Choo Man and I Want Choo lines, among others.
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