Net Sales Rise 31% for Inter Parfums, Inc. in Q3 2023

Net sales for Inter Parfums, Inc. rose 31% to $368 million in the third quarter of 2023.

 

The results reflect the three months ended September 30, 2023.

 

A mix of strong market conditions and increased market share driven by new product launches, brand extensions and the continued popularity of the company’s legacy scents were attributed to the 31% sales growth for the total company during the third quarter, and 27% on a year-to-date basis, according to company CEO Jean Madar.

 

“Our European-based operations grew sales 18% during the third quarter, and all of our brands achieved top line growth,” said Madar in a news release. “Sales of our three largest brands, Coach, Montblanc, and Jimmy Choo increased by 32%, 20% and 6%, respectively. Of note, in last year’s third quarter, Jimmy Choo sales rose 15%.”

 

The company’s most recent launches – including Jimmy Choo Rose Passion, Montblanc Signature Absolue and Explorer Platinum, and Coach Green and Love – have continued to be strong performers. The company’s mid-sized brands, Lanvin, Kate Spade, Rochas, Van Cleef & Arpels, and Karl Lagerfeld also achieved sales growth, Madar said.

 

Within its US-based operations, the company’s 64% growth during the third quarter was primarily driven by standout performances in Donna Karan/DKNY, Guess and Ferragamo. These brands saw 230%, 59% and 55% growth, respectively. 

 

During the quarter, the company launched the Guess Originals trio of fragrances, a collection of gender-inclusive fragrances, Hollister’s Feelin’ Good duo and initiated Phase 1 of the Abercrombie & Fitch Fierce distribution roll-out. It also began with introductory distribution of this fragrance in select markets and expect the majority of the Phase 1 distribution to roll- out during the fourth quarter.

 

Also introduced was the its first brand extension for DKNY, Be Delicious Orchard St., which performed “exceptionally well” since its launch in August. The fashion house duo, Donna Karan/DKNY, is now its second-largest brand within its US-based operations.