Sales: $713 million
Key personnel: Jean Madar, chairman and co-founder; Philippe Benacin, chief executive officer and co-founder; Russell Greenberg, chief financial officer and vice president, finance
Major products: Fragrances and cosmetics. Brands include Abercrombie & Fitch, Anna Sui, Boucheron, Coach, Dunhill, Graff, Guess, Hollister, Jimmy Choo, Karl Lagerfeld, Kate Spade New York, Lanvin, MCM, Montblanc, Oscar de la Renta, Paul Smith, Repetto, Rochas, S.T. Dupont and Van Cleef & Arpels
New products: Coach Dreams women’s fragrances and L’Homme Rochas. To be launched: MCM fragrances
Comments: Corporate sales rose 5.6% last year to more than $713 million, a record. Sales rose in nearly every region, with sales in North America, Inter Parfums’ largest market, increasing 11.4%. The second largest market, Western Europe, achieved sales growth of 2.6%, while in Eastern Europe, sales rose 4.7%. The biggest percentage gainer was the Middle East where sales surged 22.4% over the previous year. However, sales in Asia, Inter Parfum’s third largest market, were down nominally in actual dollars. The smallest market, Central and South America, underperformed in 2019, which came as no surprise to Inter Parfums executives who blamed the region’s political, economic and social turmoil.
Montblanc remains Inter Parfums’ largest brand, and 2019 sales surged 23%. Sales slightly declined for Jimmy Choo and Coach; but in its first full year under Inter Parfums’ guidance, Guess quickly became the the fourth largest brand in the company’s portfolio. Last year, Inter Parfums reached agreements to develop fragrances under the MCM brand and extended its licensing agreement with Oscar de la Renta through 2031 with a five-year option through 2036.
The new year got off to a rough start for Inter Parfums and so many other companies. Sales fell nearly 19% to about $145 million. Despite the decline, company executives remained optimistic. In reporting Q1 results, Chairman and CEO Jean Madar noted that China and South Korea were showing signs of returning to normal. Furthermore, Inter Parfums entered 2020 with $253 million in cash and equivalents and less than $11 million in long-term debt.
Most recently, Luxury brand Moncler and Interparfums SA signed an exclusive and worldwide license agreement for fragrances which will last to Dec. 31, 2026, with a potential five-year extension. Under the agreement, Interparfums SA will create and produce perfumes and fragrance-related products and will distribute them in Moncler monobrand stores as well as selected department stores, specialty stores and duty-free shops. The launch of the first fragrance line is expected within the first quarter of 2022.