Inter Parfums Inc., a global fragrance maker headquartered in New York, has announced its record-breaking sales for the second quarter of 2023. The company experienced double-digit growth in both its European and U.S. operations, resulting in a substantial increase in net sales.

During the second quarter of 2023, Inter Parfums achieved net sales of $309 million, marking a remarkable 26% increase from the same period in 2022, where sales reached $245 million. When considering fluctuations in foreign currency exchange rates, the net sales growth amounted to an impressive 25% compared to the second quarter of 2022.

The European segment of Inter Parfums’ operations exhibited a noteworthy 19% surge in net sales, totaling $198 million. This growth was primarily driven by three of its largest brands, namely Coach, Jimmy Choo, and Montblanc, which experienced sales growth rates of 28%, 21%, and 16%, respectively. Other contributing factors to the sales increase were Van Cleef & Arpels, Boucheron, Rochas, and Kate Spade.

Similarly, Inter Parfums’ U.S.-based operations demonstrated an outstanding 42% growth during the second quarter. This success can be attributed to the strong performance across most key brands encompassed within the company’s portfolio. Guess fragrances, particularly Seductive Blue and Uomo Acqua, witnessed a remarkable 30% increase in sales. Additionally, Ferragamo fragrances and Oscar de la Renta also performed well.

Jean Madar, the CEO of Inter Parfums, expressed great optimism regarding future sales. He emphasized the significant role that gift sets would play in the company’s sales for the third quarter. Madar also highlighted upcoming releases and expansion plans for various brands, such as Donna Karan/DKNY, Ferragamo, and GUESS in the U.S. Additionally, new additions to the Karl Lagerfeld Les Parfums Matières collection and the Van Cleef & Arpels Collection Extraordinaire will be introduced in Europe. Furthermore, Inter Parfums will commence the distribution of the popular fragrance Abercrombie & Fitch Fierce in select markets.

While acknowledging that the Chinese market has not fully recovered, Madar stated that its overall impact on the company’s forecast for the second half of the year was minimal. He expressed hope for a more positive market in China in 2024.

As a result of its exceptional sales performance, Inter Parfums raised its net sales guidance for 2023 to $1.3 billion, up from the previously communicated amount of $1.25 billion in April 2023. This upward adjustment reflects the company’s confidence in its future growth prospects.

Links:
1. Inter Parfums Inc. Official Website
2. CNBC Article on Inter Parfums’ Sales Forecast Increase