Interparfums, the French group specializing in licensed fragrances, is expecting a growth rate of 10% to 12% in 2024, largely driven by its newly acquired Lacoste license. For the 2023 financial year, Interparfums anticipates sales of approximately 800 million euros, reflecting a growth of 12% to 13% compared to 2022. The company also expects to achieve an operating margin of 18% to 19% for the full year.
Interparfums holds licenses for renowned fragrance brands such as Montblanc and Jimmy Choo. Its strong performance is attributed to several regions, including Europe, Asia, and North America. Among its brands, Montblanc and Jimmy Choo fragrances have achieved sales of 210 million euros each, marking a growth of 14% and 16% respectively. Additionally, Coach fragrances experienced a sales increase of 17% to reach 180 million euros.
Philippe Benacin, CEO of Interparfums, acknowledges the signs of a market slowdown after years of rapid growth, with sales rising from 500 million to 800 million euros. However, he remains optimistic, projecting a growth rate of 10% to 12% in 2024. Benacin highlights the significance of the first year of Lacoste fragrance activity, as the company has devoted considerable effort and attention to this brand. Despite a less dynamic global fragrance market, it still offers positive prospects due to its substantial size.
In December 2022, Interparfums secured the worldwide fragrance license for the Lacoste fashion label, previously held by the American group Coty. This fifteen-year agreement will come into effect on January 1, 2024. The introduction of Lacoste fragrances under the Interparfums umbrella is expected to generate sales between 50 and 60 million euros in its first year, significantly contributing to the overall growth of the licensing specialist.
Considering these factors, Interparfums’ sales are projected to range between 880 and 900 million euros by 2024. Excluding the performance of Lacoste, the company would still achieve a growth rate of 3%.
