The French group Interparfums, which manufactures and distributes prestige fragrances, reported a sharp rise in third-quarter sales. This good result was achieved thanks to exceptional sales in Europe and the United States. However, the licensed perfume manufacturer expressed caution about the coming quarters.
Results that smell good for the French group. In the third quarter, Interparfums achieved sales of 214.6 million euros, recording growth of 10% compared to the same period in 2022, at current exchange rates. At constant exchange rates, this growth rises to 18%.
For the first nine months of 2023, Interparfum sales reached 610.7 million euros, an increase of 19% at current exchange rates over the same period last year, and 20% at constant exchange rates.
“While growth has been very sustained since the end of 2021, we have seen a slowdown in this strong momentum since mid-summer, as our distributors have now replenished their inventories with improved supply flows,” prompting the group to remain cautious “over the coming quarters,” said Philippe Benacin, Interparfums’ CEO.
Increased sales in Europe and the United States
The group reported a 31% increase in third-quarter net sales to €345 million. In the United States, net sales climbed 64% to 126 million euros, mainly thanks to the exceptional performances of Donna Karan/DKNY, Guess and Ferragamo, which recorded growth of 230%, 59% and 55% respectively.
On this side of the Atlantic, Interparfums Europe reported an 18% increase in sales to 219 million euros, with all brands recording sales growth. The three main brands, Coach, Montblanc and Jimmy Choo, saw their sales increase by 32%, 20% and 6% respectively.
The company’s recent launches, including Jimmy Choo Rose Passion, Montblanc Signature Absolue, Explorer Platinum and Coach Green and Love, continued to perform well, according to Interparfums. Mid-sized brands such as Lanvin, Kate Spade, Rochas, Van Cleef & Arpels, and Karl Lagerfeld also reported sales growth.
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Featured photo : ©Interparfums
