from INTER PARFUMS (EPA:ITP)
2024 first quarter sales: €213m. Sales slightly above target
2024 first quarter sales: €213m
Sales slightly above target
Highlights for the start of the year included: Supply chain difficulties in certain Eastern European
A global market for selective perfumes that remains on countries weighed on the performance of Lanvin track, even though less dynamic than the beginning of fragrances. last year;
The continuing strength of the Group’s top-selling lines; Highlights by region
Few launches during the period; Q1 2023 Q1 2024 24/23
A positive start for the distribution of Lacoste’s existing €m Q1 2022
fragrance lines plus the finalization of the upcoming Africa 1.4 1.3 1.3 launch of the brand’s first men’s line developed by Asia 27.2 32.9 37.0 +12%
Interparfums. Eastern Europe 10.9 18.0 13.6 -24%
France 10.7 10.8 13.6 +26%
In Q1 2023, Interparfums recorded particularly strong
growth (+30%), driven by a number of launches, notably for Middle East 16.7 15.1 14.6 -3% Jimmy Choo fragrances. In Q1 2024, Interparfums had sales North America 53.2 76.9 66.9 -13% of €212.7m, which while down 1% at current exchange South America 13.9 20.6 26.3 +28% rates and stable at constant exchange rates in relation to
Western Europe 28.4 39.0 39.4 +1% this high comparison base, was still slightly ahead of budget,
thanks to the strength of activity in the quarter. Total sales 162.4 214.6 212.7 -1%
Highlights by brand Trends varied considerably by region:
In North America, following the very strong
€m Q1 2022 Q1 2023 Q1 2024 24/23
acceleration in sales in Q1 2023 (+44%) driven in
Montblanc 42.5 57.0 53.8 -6% particular by several major launches, momentum Coach 34.3 44.3 45.8 +3% remained positive in Q1 2024, in line with budget in a Jimmy Choo 34.4 58.9 44.8 -24% perfume market that remains dynamic;
Lacoste - - 18.7 na South America has remained on track in relation to
its performance in 2023, with growth of 28%, driven
Lanvin 14.5 14.9 10.0 -33%
by, among other factors, the positive contribution
Rochas 8.5 9.6 9.1 -5% from Lacoste fragrances distribution and growth in
Other brands 28.2 29.9 30.5 ns Coach fragrances;
Total sales 162.4 214.6 212.7 -1% The Asia-Pacific region confirmed the positive trend of previous quarters, particularly in Australia and India,
ns: not significant - na: not applicable
but also in China with a resumption in growth since After a 34% increase in Q1 2023, Montblanc autumn 2023; fragrances’ growth trajectory was reinforced in Performances in Eastern Europe were once again Q1 2024 by the continuing success of the Monblanc adversely impacted by a very unfavorable comparison Explorer line and the launch of the Monblanc Legend base, reflecting the particularly strong business Blue line, with Zinédine Zidane still representing the recovery in Q1 2023 (+66%), as well as sourcing
face of the brand; constraints in certain countries;
The enduring strength in demand for nearly all the In Western Europe, business momentum remained established women’s and men’s Coach lines continues positive, as the contribution from Lacoste fragrances to drive the success of Coach fragrances, which distribution offset the unfavorable base effect from registered further growth in sales in the quarter; the Q1 2023 launches;
The launch of the I Want Choo Forever line in late 2022 France registered strong growth, exceeding and the Rose Passion line in early 2023, combined expectations, driven by Montblanc and Rochas with the international success of the I Want Choo fragrances, and the positive effect from the takeover line rolled out in 2021, resulted in remarkable of Lacoste fragrances distribution; growth (+71%) in Q1 2023. In that context, Jimmy Finally, as in Western Europe, sales in the Middle East Choo fragrances experienced a temporary decline were strengthened by the steady performance of in Q1 2024, while a new flanker is planned for the Montblanc fragrances and particularly strong growth
I Want Choo line in Q2 2024; by Van Cleef & Arpels fragrances.
Since taking over their operations on January 1, Lacoste fragrances have generated nearly €19m in sales;
Philippe Benacin, Chairman and CEO, commented: “While the large number of launches concentrated in last year’s first quarter resulted in an unfavorable comparison base with Q1 2024, sales have nevertheless been solid since the start of the year, slightly exceeding our expectations, in a fragrance market that remains relatively dynamic. The takeover of Lacoste fragrances has got off to a very good start, confirming, if any proof was actually needed, the brand’s strong potential over the coming years. On that basis, we are able reconfirm our annual sales guidance of €880m to €900m for the 2024 full-year.”
Paris, April 25, 2024
Interparfums This press release is available 10 rue de Solférino in French and English
75007 Paris on the company’s website Tel. +33 (0)1 53 77 00 00 interparfums-finance.fr
Upcoming event
Publication of H1 2024 sales July 23, 2024
Investor Relations and Analysts Contact
Philippe Santi Executive Vice President psanti@interparfums.fr
Press contact
Cyril Levy-Pey Communication Director clevypey@interparfums.fr
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