Inter Parfums, the fragrance company based in New York, has seen a notable increase in net sales for the third quarter of this year. The growth can be attributed to the company’s strong performance in North America, Western Europe, and Asia, specifically in China. For the three-month period ending on September 30, Inter Parfums recorded net sales of $368 million.

The largest market for Inter Parfums remains North America, with sales increasing by 29% compared to the same period last year. Western Europe closely followed with a sales growth of 24%. In Asia, which is the company’s third largest market, net sales rose by 20%. These impressive sales figures led to a 28% increase in net income, totaling $53 million.

Jean Madar, the chairman and CEO of Inter Parfums, expressed his satisfaction with the company’s performance. He attributed their success to favorable trends in the fragrance industry, high demand for their brands, and successful product launches and distribution.

The company also emphasized its success in the Chinese market, particularly with brands such as Coach, Montblanc, and Ferragamo. This accomplishment enabled Inter Parfums to effectively manage its stock levels, providing a positive outlook for 2024. The company expects to benefit from its recent license acquisitions of Roberto Cavalli and Lacoste, with the shipment of Roberto Cavalli fragrance products starting in January 2024 and extensions planned for mid-2024. The Lacoste license will also come into effect in January 2024.

Despite geopolitical tensions and a strong fourth quarter in 2022, Inter Parfums has reaffirmed its full-year net sales guidance of $1.3 billion for 2023, which represents a 20% growth from the previous year. The company has also raised its earnings per diluted share guidance to $4.75, reflecting a 26% growth from the previous year.

In summary, Inter Parfums experienced significant growth in the third quarter of this year, fueled by strong performance in key markets and successful brand launches. With strategic licensing acquisitions and a positive outlook, the company is well-positioned for continued success in the fragrance industry.

Source:

– [Inter Parfums Q3 2023 Earnings Report](insert link here)
– [Inter Parfums Official Website](insert link here)