Fragrance is big news everywhere at the moment as consumers worldwide indulge their passion for perfumery to the hilt.
Inter Parfums pulled in US$1 billion for its full year 2022. A record-busting result that looks set to continue in 2023.
The market-leading fragrance maker has posted net sales of US$311.7 million for Q1 2023 – up 24 per cent over the same period last year. Even this early in the fiscal year, Inter Parfums has confirmed its guidance of achieving US$1.25 billion in sales for the full year 2023.
The multinational’s portfolio is a who’s who of designer and luxury fragrance brands, including Coach, Donna Karan, DKNY, Ferragamo, Jimmy Choo, MCM and Oscar de La Renta. The company also inked a deal with Coty late last year to take over the license for Lacoste and holds the trademarks for Rochas and Lanvin.
The fragrance major has also signed a distribution deal for Abercrombie & Fitch‘s number one fragrance, Fierce, to begin in September.
Our 2023 first quarter was the best ever sales quarter in our history as our European-based operations grew by the top line by 26 per cent or 29 per cent in constant currency and US- based operations by 19 per cent, said Jean Madar, chairman and CEO of Inter Parfums.
“With respect to our European operations, Jimmy Choo’s brand sales grew 63 per cent and inched out Montblanc, historically our largest brand. Montblanc and Coach brand sales rose 28 per cent and 24 per cent, respectively, and we achieved double-digit sales gains on several of our mid-sized brands, including Karl Lagerfeld, Boucheron and Rochas.”
Double digit growth was also an upside for Ferragamo and key brand extensions in recent months have included Jimmy Choo Blossom, Montblanc Signature Absolue and Eau de Rochas Citron Soleil.
Madar also singled out the uninterrupted success of the I Want Choo line launched in 2021, I Want Choo and Rose Passion, plus new flankers rolled out at the end of 2022 and 2023.
Sales in the Asia/Pacific region rose 8 per cent during Q1. While sales in Central and South America climbed 43 per cent. Eastern Europe saw revenues increase by 25 per cent and the Middle East by 5 per cent.
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