Inter Parfums, a global fragrance maker based in New York, has announced its projected sales of over $1.1 billion for the year 2023. This expected increase in sales can be attributed to the company’s strong brand portfolio and the launch of new products in the upcoming year. Compared to the previous year, this projection represents an 8% growth, resulting in earnings per diluted share of $3.70, which is a 9% increase from 2022.

According to Inter Parfums, these projections follow the company’s announcement that it expects sales to reach $1.025 billion in 2022, with earnings per diluted share of $3.40. Both of these figures assume a stable average dollar/euro exchange rate and no significant resurgence of the Covid-19 pandemic.

Jean Madar, the chairman and CEO of Inter Parfums, emphasized several contributing factors to the projected sales increase in 2023. He highlighted the strength of the company’s brand portfolio and global distribution network, which have played a crucial role in its previous growth and are expected to continue driving growth in the future. Additionally, the full-year shipment of Donna Karan and DKNY products in 2023, compared to only five months in 2022, is expected to boost sales. Furthermore, Inter Parfums anticipates that new product launches, particularly brand extensions and flankers, will contribute to sustained top-line growth.

The company also expects growth in its travel retail business and aims to improve its supply chain efficiency. It plans to implement modest price increases at the beginning of 2023. However, Inter Parfums has not factored in any potential benefits from the loosening of restrictions in China, as the current measures appear to be modest and the timeline for a return to normal business operations remains uncertain. The company will closely monitor any changes and adjust its guidance accordingly.

In its latest trading update, Inter Parfums reported a 7% increase in net sales to $280 million and a 16% increase in sales to $776 million for the first nine months of the year ending September 30. Net income attributable to Inter Parfums also rose by 8% in the third quarter, with year-to-date net income surging by 18% to $104 million, and diluted earnings per share increasing by 17% to $3.26.

Overall, Inter Parfums is optimistic about its future growth prospects. It has confidence in its brand portfolio and global distribution network, and is committed to providing high-quality products to customers worldwide.

Useful links:
Inter Parfums Official Website
Inter Parfums Careers