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CEO Jean Madar attributed the growth to strong sell-in from the company’s newest licenses, Roberto Cavalli and Lacoste, and healthy fragrance demand.
Net sales for Inter Parfums, Inc. rose to $342 million in Q2 2024 – up 11% from $309 million in the prior-year quarter.
“This is [even] more impressive considering the 26% sales growth in the same quarter of 2023,” said Madar. “This growth also reflects our more balanced pace of launches and advertising and promotional investments, as compared to heavy concentrations during peak selling periods.”
European-based operations net sales increased 14% from the prior year period, primarily led by Jimmy Choo with 31% sales growth, further expanding upon the 21% increase in brand sales during the same period last year. A new extension of the “I Want Choo” line is coming later this year.
Montblanc sales declined slightly during the quarter, following 16% sales gains in the same period last year. The Montblanc Explorer line is performing favorably, in addition to Legend Blue, which launched earlier this year. Based on orders in-hand and customer input, the company says it’s expecting a significant increase in Montblanc brand sales in the second half of the year.
Coach brand’s established lines continue to see enduring demand; the recent addition of Coach Dreams Moonlight resulted in flat sales for the first half of 2024, off a 26% increase in the first half of 2023. Two new fragrance variations for Coach fragrances are in the pipeline for 2025.
Several of the company’s midsized brands had a strong second quarter including Karl Lagerfeld and Rochas where fragrance sales were each up 13%.
US-based operations grew sales 8% in the second quarter, following a strong first quarter where the company achieved 18% sales growth, and an exceptional prior year period where we grew sales by 42%. For the first half of 2024, sales grew 12%.
The company’s two largest brands, Guess and Donna Karan/DKNY, saw sales increases of 8% and 14%, respectively, in the first half of 2024. Line extensions are planned for later this year, and a surge in brand sales in the second half is expected, the company said.
MCM grew high double-digit behind the successful debut of MCM Crush.
The company’s newest brands, Lacoste and Roberto Cavalli, have performed “on par” with company expectations, contributing 9% to its sales growth in the current second quarter. For the Roberto Cavalli fragrance family, the company will debut a new Just Cavalli brandextension, plus Sweet Ferocious, and the Wild Heart duo for men and women in the second half of 2024.
In 2025, a new extension of the legacy Lacoste scent will be launched followed by a new blockbuster women’s fragrance in 2026.
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