Interparfums Reports Best Quarterly Sales Performance in Company History

Interparfums, Inc. achieved its best quarterly sales performance in company history.

According to officials, net sales rose to a record $425 million in Q3 2024, up 15% from $368 million from the prior-year quarter.

Jean Madar, chairman and CEO, said the company’s ongoing strength of the global fragrance market, solid performance of its largest brands, and the addition of our newest brands, Lacoste and Roberto Cavalli, contributed 10% to its growth, leading to its record top-line performance.

“It’s been a great year so far,” said Madar. “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. While the pace of growth is starting to slow down, the power of our diverse brand portfolio, in combination with our agile operating model, should help us gain market share.”

European-based operations net sales increased 21% from the prior year period, primarily led by Jimmy Choo and Montblanc with 17% and 10% sales growth, respectively. Jimmy Choo brand sales accelerated during the quarter, driven by the launch of I Want Choo Le Parfum, while Montblanc brand sales were propelled by ongoing strength in the Explorer and Legend lines, he said.

Coach’s established lines achieved sales that approximated those of the 2023 third quarter when comparable brand sales rose 32%.

The company’s mid-sized brands also contributed to its quarterly sales growth. Lanvin sales rose 31% due to the resumption of normalized sales in Eastern Europe and Asia, partially offsetting the decline in sales observed in the first half of the year, and Karl Lagerfeld grew sales 19% with an expanded product offering that includes a new pillar, Ikonik.

Sales from its largest US brand, GUESS, grew 16% during the quarter, attributable to the continued performance of legacy scents and the roll-out of GUESS Iconic, Madar said.

Sales from its second largest US brand duo, Donna Karan/DKNY, now entering its third year under Interparfums’ expertise, grew 4% during the quarter. The new entrant for the brand, DKNY 24/7, is rolling out globally, and is reportedly on track to becoming the next $100 million brand in the company’s portfolio.

The company reaffirms its previously announced 2024 guidance of net sales of $1.45 billion.