Inter Parfums, Inc. has released its financial report for the three months ended September 30, 2023. The company reported a net sales of $368 million, which is a 31% growth compared to $280 million in the third quarter of 2022.
As for the business in various regions, in Europe, Inter Parfums’ operations experienced an 18% increase in sales during the third quarter, with all brands achieving top-line growth. The three largest brands, Coach, Montblanc, and Jimmy Choo, saw sales growth of 32%, 20%, and 6%, respectively. Notably, Jimmy Choo sales rose by 15% in the same quarter of the previous year.
In the United States, Inter Parfums’ operations saw remarkable growth of 64% during the third quarter, primarily driven by outstanding performances from Donna Karan/DKNY, GUESS, and Ferragamo. These brands experienced growth rates of 230%, 59%, and 55%, respectively. The addition of Donna Karan/DKNY to their portfolio in July 2022 contributed to the exceptional year-over-year performance of these brands.
Inter Parfums stated that the company’s recent fragrance launches such as Jimmy Choo Rose Passion, Montblanc Signature Absolue and Explorer Platinum, as well as Coach Green and Love, have been performing strongly. Inter Parfums’ mid-sized brands including Lanvin, Kate Spade, Rochas, Van Cleef & Arpels, and Karl Lagerfeld also achieved sales growth.
During the quarter, Inter Parfums launched new fragrances including the GUESS Originals trio, a collection of gender-inclusive fragrances, Hollister’s Feelin’ Good duo, and initiated Phase 1 of the Abercrombie & Fitch Fierce distribution roll-out. The company also introduced its first brand extension for DKNY, Be Delicious Orchard St., which has performed exceptionally well since its launch in August. As a result, the fashion house duo of Donna Karan/DKNY has become Inter Parfums’ second largest brand in the U.S.
Jean Madar, Chairman & Chief Executive Officer of Inter Parfums, attributed this impressive sales growth to strong market conditions and increased market share driven by new product launches, brand extensions, and the continued popularity of their existing fragrances.
Looking ahead, Jean Madar expressed confidence in meeting the demand of retailers and consumers during the upcoming holiday season. The company is dedicated to allocating appropriate resources to maximize efforts and output for licensors, suppliers, distributors, and manufacturers. Inter Parfums will provide an update on its full-year 2023 guidance along with the issuance of third-quarter 2023 consolidated results.
