01.23.24
Net sales for Inter Parfums, Inc. rose 6% to $329 million and 21% to $1.32 billion for the three months and full year ended Dec. 31, 2023, from the same periods in 2022, respectively.
For US-based operations, its 13% sales growth in the fourth quarter was primarily driven by Donna Karan/DKNY with comparable quarter sales growing 21%. Guess and Ferragamo also saw mid-single-digit sales growth during the quarter, relative to the very high base in the prior year period. The Phase 1 roll-out of the iconic Abercrombie & Fitch Fierce fragrance, in select markets, boosted fourth quarter sales with further gains expected as we launch Phase 2 in the spring.
“With ongoing strength in the overall fragrance market and our successful distribution execution, we grew sales by 6% during the quarter,” said Madar, adding that compared to 2019, company sales were up 85% for both the fourth quarter and full year 2023.
European-based operations grew sales by 2%, primarily due to Coach brand sales which rose 17% in the fourth quarter, said Madar.
Madar said Jimmy Choo and Montblanc’s sales growth of 78% and 50% respectively in the closing quarter of 2022 was expected given their “modest decline” in net sales during the fourth quarter of 2023.
For the full year, European-based operations grew sales by 16%, led by the Coach, Jimmy Choo and Montblanc brands, which were up 25%, 19% and 15% growth, respectively, according to Madar.
“Our stimulating pipeline of innovative products across our portfolio of brands, now inclusive of Lacoste and Roberto Cavalli, a fully operational Italian affiliate in Florence, Italy, and our dynamic positioning within the industry, strengthen our confidence in gaining further market share in the years ahead and deliver another record year in 2024,” Madar said.