Yesterday, French group Interparfums released its financial report for the second quarter and the first half of the year. For the three months ended June 30, 2024, the company’s net sales rose to $342 million, marking an 11% increase from $309 million in the second quarter of 2023. Over the first two quarters, Interparfums reported sales of €666 million, with a notable 7% growth in the second quarter compared to the same period last year. European operations saw a 14% rise, while the US division grew by 8%.
Interparfums, which produces fragrances under license for brands such as Jimmy Choo, DKNY, and Karl Lagerfeld, reported strong sales for its Lacoste, DKNY, and Roberto Cavalli lines. However, CEO Jean Madar noted that brands like Montblanc and Coach experienced softer demand. Despite this, Madar remains optimistic, anticipating that new launches and increased sell-out in the latter half of the year will counteract these impacts.
The premium fragrance market has been especially robust in recent years. Interparfums saw a 26% rise in sales during the same quarter in 2023. Madar emphasized the company’s strategy to achieve a more balanced pace of launches and promotional activities to ensure consistent performance. CFO Michel Atwood pointed out that sell-in is growing slower than sell-out, especially in Eastern Europe, leading the company to maintain a conservative outlook and reaffirm its 2024 guidance of $1.45 billion in net sales.
Interparfums also announced the renewal of its Van Cleef & Arpels license for an additional nine years starting January 2025, a license it has held since 2006 and previously renewed once. Additionally, a new “blockbuster” Lacoste scent is slated for release in 2026.
