Interparfums Reports ‘Best Ever’ Financial Results for Q4

Net sales rose 10% for Interparfums, Inc. for the three months and full year ended Dec. 31, 2024, to $362 million and to $1.45 billion, from the same periods in 2023, respectively.

The average dollar/euro exchange rate for the 2024 fourth quarter was 1.07 compared to 1.08 in the 2023 fourth quarter leading to a negative 0.2% foreign exchange impact. For the full year, the average dollar/euro exchange rate was 1.08, in line with 2023.

“Our net sales in the final quarter of 2024 marked our best-ever fourth quarter performance, with quarterly sales growth of 10%, enabling us to achieve our 2024 sales goal of $1.45 billion, said Interparfums Chairman and CEO Jean Madar. “Our growth was broad-based across our portfolio, reflecting strong demand for our key brands. Notably, our top-performing United States-based brand, Guess, is well on its way to becoming our third largest with annual sales expected to exceed $200 million in the foreseeable future, due in part to the momentum of the fashion house and the strength of our partnership. Furthermore, our current top six brands, representing approximately 70% of our net sales, increased 5% during the fourth quarter and 4% for the full year. Our newest brands, Lacoste and Roberto Cavalli, contributed 8% to our consolidated quarterly sales growth and 9% for the full year.”

Fragrance Performance

The company’s European-based operations sales rose by 6% and 10% for the fourth quarter and full year 2024, respectively, driven by the strong performance of Jimmy Choo, addition of Lacoste, and solid execution on some of its smaller brands.

The company’s largest brand, Jimmy Choo, increased sales by 11% and 7% for the fourth quarter and full year 2024, respectively, attributable to the ongoing success of the I Want Choo franchise, while our second and third largest brands, Montblanc and Coach, were broadly flat against a very high base period in 2023 where sales grew by 15% and 25%, respectively.

Lacoste exceeded expectations for its first year under our expertise, achieving $85 million in 2024 net sales.

Despite the absence of major launches in 2024, Lanvin fragrance sales returned to growth as activities continued to normalize in Eastern Europe. Rochas fragrance sales increased primarily driven by the Citron Soleil and Orange Horizon lines, which are the first installments of the Eau de Rochas collection.

The company’s US-based operations sales grew by 16% and 12% for the fourth quarter and full year 2024, respectively, primarily driven by Guess, Donna Karan/DKNY and the addition of Roberto Cavalli.

Guess fragrance sales rose by 17% and 13% for the 2024 fourth quarter and full year, respectively. This was achieved due to the continued robust performance of legacy scents, plus the initial success of our new pillar, GUESS Iconic (women), extensions for Uomo Intenso (men), as well as a variety of new multi-scent collections including Amore, Elements, and Sexy Skin Metallique.

For Donna Karan/DKNY, net sales increased by 10% and 9% for the fourth quarter and full year 2024, respectively. The sales growth was primarily accomplished through the success of Donna Karan’s four-scent Cashmere Collection, and the blockbuster launch of DKNY 24/7. As we had projected, this fashion house duo is the fifth brand in our prestige portfolio to exceed $100 million in sales.

With regard to the company’s Italian brands, which are managed by its US-based operations, Ferragamo and Roberto Cavalli, performed well during the fourth quarter of 2024. Ferragamo fragrance sales grew by 13% during the quarter and remained stable for the year, following 21% growth in 2023. Roberto Cavalli fragrance sales were ahead of our expectations, achieving $31 million in net sales in its first year under Interparfums’ management.

Guidance

Company officials say achieving the sales goal of $1.45 billion positions Interparfums to meet its full year 2024 earnings per diluted share target of $5.15, excluding a supplemental non-recurring, non-cash impairment charge of approximately $0.07 per diluted share, associated with its trademarks.