Inter Parfums, a fragrance company based in New York, has announced impressive sales figures for 2023, surpassing its initial projections of $1.3 billion for the year. The company reported a 6% increase in net sales for the fourth quarter, reaching $329 million, and a remarkable 21% increase in sales for the full year, totaling $1.32 billion.

The driving force behind this sales growth was the Coach brand, which experienced a substantial 17% increase in net sales in the fourth quarter. However, both Jimmy Choo and Montblanc saw a modest decline in net sales during the same period.

In terms of regional performance, European-based sales grew by 2% thanks to the strong performance of the Coach, Jimmy Choo, and Montblanc brands. These brands achieved impressive growth rates of 25%, 19%, and 15%, respectively, for the full year.

In the United States, Inter Parfums witnessed a notable 13% increase in sales for the fourth quarter, mainly driven by the Donna Karan/DKNY brand, which experienced a substantial 21% growth in sales. Guess and Ferragamo also saw mid-single-digit sales growth during the quarter.

For the full year, U.S.-based sales grew by an impressive 33%, with Donna Karan/DKNY, Guess, and Ferragamo achieving remarkable gains of 205%, 23%, and 21%, respectively.

Jean Madar, the chairman and CEO of Inter Parfums, expressed satisfaction with the company’s performance, stating, “With the thriving fragrance market and our successful distribution execution, we achieved a 6% sales growth during the quarter. Surpassing our initial guidance of $1.3 billion, we achieved a remarkable 21% sales growth for the year.”

Madar also acknowledged the impact of the previous year’s high sales baseline on the quarterly growth rate, stating, “Compared to 2019, our sales were up 85% for both the fourth quarter and full year 2023.”

Looking ahead, Madar expressed confidence in the company’s ability to continue gaining market share and deliver another record-breaking year in 2024. Inter Parfums boasts an exciting pipeline of innovative products across its portfolio of brands, which now includes Lacoste and Roberto Cavalli. The recent establishment of a fully operational Italian affiliate in Florence, Italy further strengthens the company’s position in the industry.

As an industry leader, Inter Parfums continues to excite customers with its range of high-quality fragrances and proves its ability to adapt and thrive in a competitive market.

Useful links:
Inter Parfums Official Website
Lacoste Official Website