Inter Parfums' Q3 Sales Rise 15% on Strong Brand Performance
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Inter Parfums, Inc. IPAR continues to benefit from strength in the fragrance market, as reflected in its stellar third-quarter 2024 sales. The results were fueled by ongoing fragrance market momentum, the strong performance of the company’s largest brands, as well as contributions from its latest brands, Lacoste and Roberto Cavalli.
For the three months ended Sept. 30, 2024, net sales rose 15% to $425 million from $368 million reported in the year-ago quarter. This growth was driven by the strong performance of the company's largest brands, along with its newest brands, Lacoste and Roberto Cavalli, which together contributed 10% to the sales increase.
For the nine months ended Sept. 30, 2024, net sales rose 10% to $1091 million from $989 million in the year-ago quarter. In this time frame, Inter Parfums’ Europe-based product sales were $739 million, up 12% from the prior-year levels. U.S.-based product sales amounted to $362 million, up 11% from the prior-year period's levels.
IPAR’s Strong Sales Growth in European Operations
In the third quarter of 2024, sales in the European-based operations surged 21% to $282 million. This growth was propelled by the exceptional performance of the Jimmy Choo and Montblanc brands, which saw increases of 17% and 10%, respectively. Jimmy Choo’s sales acceleration was fueled by the launch of I Want Choo Le Parfum, while Montblanc’s sales were boosted by the continued success of the Explorer and Legend lines.
Coach, one of the company’s largest brands, maintained sales levels comparable to the third quarter of 2023, a period when Coach sales rose by 32%. This solid sales performance was also complemented by the debut of the Lacoste Original line.
Several mid-sized brands also contributed to the company's quarterly growth along with the larger brands. Lanvin sales surged 31%, driven by a resumption of normalized sales in Eastern Europe and Asia, while Karl Lagerfeld achieved a 19% sales increase, supported by the launch of its new Ikonik line and an expanded product range.
IPAR’s Impressive Growth in the United States
IPAR’s U.S. operations sales rose 9% year over year to $146 million in the third quarter of 2024. The company’s largest U.S. brand, GUESS, saw a 16% rise in sales during this period, driven by the ongoing popularity of its classic fragrances and the successful launch of GUESS Iconic.
Sales from the second-largest brand, Donna Karan/DKNY, grew 4%. Now in its third year with the company, the brand has introduced DKNY 24/7, which started a global rollout in September after a successful limited release over the summer.
The Ferragamo brand continued to gain traction, supported by the success of its latest fragrance, Signorina Unica. For the new brand Roberto Cavalli, the fragrance Sweet Ferocious debuted in August, and the company has already started shipping the Wild Heart duo, which is set to hit stores next month just in time for the holiday shopping season.
