The global prestige fragrance market was dealt a major body blow during the Covid-19 crisis. But following the lifting of health restrictions and a return to normality, worldwide sales have soared.
Fragrance major Inter Parfums has revealed that the company enjoyed its “best year ever” in 2022 with full year sales of US$1.08 billion ($1.54 billion) – up 24 per cent on 2021 sales of US$880 million.
The fourth quarter leading into Christmas provided a significant boost, said Jean Madar, chairman and CEO of Inter Parfums. Net sales reached US$311 million in Q4 – up from US$211 million for the same period in 2021.
“In the final quarter of the year, our four largest brands, Montblanc, Jimmy Choo, Coach and Guess, generated sales gains of 50 per cent, 78 per cent, 82 per cent and 28 per cent, respectively, compared to the same period a year earlier.”
As with most fragrance companies and beauty companies, Inter Parfums launch schedule in 2022 was mainly filled with flankers and line extensions. But completely new launches also hit the market, including the company’s first Moncler juice, Kate Spade Sparkle, Singulier by Boucheron and Open Road and Wild Rose from Coach.
Last July, Inter Parfums also acquired the global fragrance licenses for Donna Karan and DKNY fragrances. Not surprisingly, the ever-popular duo increased Inter Parfums sales in the US by 14 per cent through to the end of the year.
Madar believes that 2023 will be a great year, a productive year and a demanding year. “For our European operations, we will be rolling out new pillars for Kate Spade, Coach and Moncler. For our US operations, we have a duo debuting for the Hollister brand and our first men’s scent for MCM“.
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