Interparfums announced the results for the third quarter and nine months ended September 30, 2024.
Net sales reached $425 million in Q3 of 2024, a 15% increase from last year. In the nine months ending September 30, net sales increased 10% from 2023 to $1,091 million.
Jean Madar, Chairman & Chief Executive Officer of Interparfums said,
“Sales in the current third quarter were the highest for any quarter in our history led by the ongoing strength of the global fragrance market, solid performance of our largest brands, and the addition of our newest brands.”
Q3 sales in North America, Western Europe, and Asia/Pacific increased by 12%. Interparfums is planning on expanding promotional programs for more growth in 2026.
Madar added,
“The Roberto Cavalli and Lacoste fragrance lines, which entered our sales mix in the beginning of the year, have been welcome additions to our portfolio, contributing 10% to our topline performance in the third quarter, giving us confidence that combined sales of these two brands will exceed $100 million in 2024.”
Distribution of gift sets began in the summer, resulting in a successful sell-out and strong re-orders. This year, gift sets were distributed across Europe and the Middle East due to higher demand.
Michel Atwood, Chief Financial Officer of Interparfums, commented,
“Consolidated gross margin was unchanged from last year’s third quarter. The gross margin changes between our two segments were primarily driven by brand and channel mix… Once again, the amortization cost of the Lacoste license is included in SG&A and amounts to $1.6 million quarterly, totaling $4.8 million for the first nine months of 2024.”
Interparfums affirmed its 2024 guidance with net sales of $1.45 billion and earnings per diluted share of $5.15.
The initial full-year 2025 guidance will be announced on November 12, 2024.
Net sales reached $425 million in Q3 of 2024, a 15% increase from last year. In the nine months ending September 30, net sales increased 10% from 2023 to $1,091 million.
Jean Madar, Chairman & Chief Executive Officer of Interparfums said,
“Sales in the current third quarter were the highest for any quarter in our history led by the ongoing strength of the global fragrance market, solid performance of our largest brands, and the addition of our newest brands.”
Q3 sales in North America, Western Europe, and Asia/Pacific increased by 12%. Interparfums is planning on expanding promotional programs for more growth in 2026.
Madar added,
“The Roberto Cavalli and Lacoste fragrance lines, which entered our sales mix in the beginning of the year, have been welcome additions to our portfolio, contributing 10% to our topline performance in the third quarter, giving us confidence that combined sales of these two brands will exceed $100 million in 2024.”
Distribution of gift sets began in the summer, resulting in a successful sell-out and strong re-orders. This year, gift sets were distributed across Europe and the Middle East due to higher demand.
Michel Atwood, Chief Financial Officer of Interparfums, commented,
“Consolidated gross margin was unchanged from last year’s third quarter. The gross margin changes between our two segments were primarily driven by brand and channel mix… Once again, the amortization cost of the Lacoste license is included in SG&A and amounts to $1.6 million quarterly, totaling $4.8 million for the first nine months of 2024.”
Interparfums affirmed its 2024 guidance with net sales of $1.45 billion and earnings per diluted share of $5.15.
The initial full-year 2025 guidance will be announced on November 12, 2024.
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