Global fragrance company Inter Parfums has reported record first-quarter sales of $325 million and credited this growth to the success of its Lacoste and Cavalli fragrances.
“With ongoing momentum in the fragrance market and favourable initial shipments of Lacoste and Cavalli fragrances, we delivered another record in first-quarter sales, said Jean Madar, chairman and CEO of Inter Parfums.
“Our net sales growth of 4 per cent was expected, considering the 24 per cent sales growth achieved in the same quarter of last year.”
Madar said the company is focused on optimising the timing of its launches this year, aiming for a more balanced distribution compared to the heavy concentration of fragrance launches last year.
Despite a strong demand for key brand lines and favorable initial shipments of Lacoste fragrances, the company’s European sales were flat compared to the exceptional sales performance achieved by established brands during the first quarter of last year.
Inter Parfums plans to capitalize on the momentum of its brands, with Coach fragrance sales rising 5 per cent in the quarter, building upon the 24 per cent increase in the prior year period.
Meanwhile, Jimmy Choo and Montblanc saw declines in fragrance sales, following their impressive 63 per cent and 28 per cent growth rates during the same period last year.
In the US, Donna Karan/DKNY and Guess were the primary sales drivers, with comparable quarter sales growing 44 per cent and 21 per cent.
At the same time, the launch of Roberto Cavalli, in combination with the start of distribution of European-based brands by the company’s Italian subsidiary, contributed 9 per cent growth.
The company anticipates significant growth for the balance of the year, supported by its strong innovation pipeline across all key brands in its portfolio.
“We are confident in our dynamic market positioning and remain optimistic about our ability to continue to gain market share within this growing market. As such, we are reaffirming our 2024 net sales guidance of $1.45 billion,” Madar concluded.
Inter Parfums produces and distributes prestige and fragrance-related products under license agreements with brand owners.
Its portfolio includes Abercrombie & Fitch, Anna Sui, Boucheron, Coach, Donna Karan/DKNY, Emanuel Ungaro, Ferragamo, Graff, Guess, Hollister, Jimmy Choo, Karl Lagerfeld, Kate Spade, Lacoste, MCM, Moncler, Montblanc, Oscar de la Renta, Roberto Cavalli, and Van Cleef & Arpels.
