Interparfums sales up 20% in Q3 in buoyant market

On Tuesday, French fragrance producer Interparfums announced that its Q3 revenue grew 20% on an annual basis to reach €257.6 million, “as the global perfumery market remains buoyant.”

“Q4 sales of approximately €200-€210 million, as currently expected, should make it possible for us to reach our annual targets for 2024,” said Philippe Bénacin, CEO of Interparfums, in a press release.

“Gross margin discipline as well as brand- and region-specific calibration of marketing and advertising spending should help to bring profitability in line with the guidance issued at the start of the year, for a 2024 full-year operating margin of around 19%,” said executive VP Philippe Santi, also cited in the press release.

The group’s Q3 results “were driven in large part by the dynamism of the Jimmy Choo and Lacoste fragrances, as well as early year-end orders from certain distributors,” according to Bénacin.

Sales of Jimmy Choo perfumes increased by 15% to €66.9 million thanks to the launch of a new line in June, and sales of Montblanc perfumes increased by 9% to €59.6 million.

Lacoste perfumes, launched in January as the group’s latest licence acquisition, were just shy of €27 million in Q3, and topped the €63 million mark over nine months.

North America remained the largest market for Interparfums, with a revenue of over €105 million in Q3, equivalent to a 9% increase.

Sales in Western Europe jumped 42% to €50.9 million “thanks in particular to the launch of new lines Jimmy Choo I Want Choo Le Parfum and Lacoste Original,” according to the press release.

Revenue in France grew by 15% to €12.5 million, a performance that “exceeded expectations,” thanks to the group’s flagship brands and the Lacoste perfumes.

Sales in Asia grew by 18%, nearly reaching €30 million, as the “overall trend remains positive, especially in China and Singapore,” according to Interparfums.