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Sales in its three largest markets, North America, Western Europe and Asia/Pacific, grew by 12%, 25% and 15%, respectively.
November 6, 2024
By: Lianna Albrizio
Associate Editor
Net sales for Interparfums, Inc. increased 15% and 10% for the third quarter and nine months ended Sept. 30, 2024, respectively.
For the three months ended Sept. 30, 2024, net sales were $425 million compared to $368 million the prior-year quarter.
For nine months ended Sept. 30, 2024, net sales were $1.09 billion compared to $989 million the prior-year quarter.
The average dollar/euro exchange rate for the 2024 third quarter was 1.10 compared to 1.09 in the 2023 third quarter, while for the first nine months of 2024, the average dollar/euro exchange rate was 1.09, compared to 1.08 in the first nine months of 2023, leading to a positive 0.4% and 0.2% foreign exchange impact for the third quarter and first nine months of 2024, respectively.
Per Jean Madar, Interparfums chairman and CEO , sales in the current third quarter were the highest for any quarter in company history and driven by the ongoing strength of the global fragrance market, solid performance of its largest brands and the addition of our newest brands.
“Third quarter sales in our three largest markets, North America, Western Europe and Asia/Pacific grew by 12%, 25% and 15%, respectively,” said Madar.
While sales in China are modest, the company is planning to ramp up its promotional programs next year.
Central and South America’s sales increased by 20% and Eastern Europe achieved comparable quarter sales growth of 23% after a slow start earlier in the year due to supply constraints.
The Roberto Cavalli and Lacoste fragrance lines, which entered its sales mix in the beginning of 2024, contributed 10% to its topline performance in the third quarter. Combined sales of these two brands are expected to exceed $100 million in 2024.
“We are looking forward to a good final quarter and record results for the year,” said Madar. “We have already received excellent feedback from both distributors and retailers on our 2025 new product pipeline, which is especially reassuring given that the fragrance market, while still robust, has somewhat moderated. For next year, we are expecting a softer landing with more sustainable growth rates than in prior years.”
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