Inter Parfums sales surge 21% in 2023

Inter Parfums announced on Tuesday net sales for the full year 2023 surged 21%, driven by strong demand and strategic growth initiatives.

The New York-based fragrance giant said net sales totalled $1.318 billion for the year ended December 31, 2023. North America, Europe, and Asia, the three largest markets, achieved sales gains of 22%, 21% and 17%, respectively, while sales in the Middle East rose by 22% and Central and South America by 33%.

“Ongoing demand for our brands, strong holiday season sell-through, and a dynamic fragrance market resulted in a strong 2023 fourth quarter and record full year net sales and earnings results,” said Jean Madar, chairman and chief executive officer of Inter Parfums. 

Madar equally noted that each of the company’s three largest brands surpassed $200 million in sales for the first time ever. Notable growth was seen in flagship brands such as Jimmy Choo, Montblanc, and Coach, with sales increases of 19%, 15%, and 25% respectively. Additionally, the fourth largest brand, Guess, demonstrated a robust 23% sales growth, indicating promising potential for future expansion.

Diluted earnings per share for the full year reached $4.75, reflecting a robust 26% growth compared to 2022.

Likewise, net sales for the fourth quarter of 2023 reached $329 million, marking a 6% increase from the same period in 2022. Diluted Earnings Per Share was $0.32, reflecting a 37% decrease compared to the fourth quarter of 2022.

The company reaffirmed its 2024 guidance, projecting net sales of $1.45 billion and earnings per diluted share of $5.15, representing a double-digit increase in both metrics.