Inter Parfums posts record-breaking sales to surpass $1.3 billion in 2023

New York-based Inter Parfums announced on Tuesday record-breaking annual sales in 2023, surpassing its prior guidance of $1.3 billion for the twelve months.

For the fourth quarter ending December 31, net sales at the fragrance giant rose 6% to $329 million, while sales surged 21% for the year $1.32 billion, compared to the prior-year periods.

By region, European-based sales by 2%, primarily due to Coach brand sales which rose 17% in the fourth quarter. Both Jimmy Choo and Montblanc posted a “modest decline in net sales” during the fourth quarter of 2023, after sales growth of 78% and 50%, respectively, in the closing quarter of 2022.

For the full year, European-based sales were up 16%, led by the Coach, Jimmy Choo and Montblanc brands, which were up 25%, 19% and 15% growth, respectively.

U.S.-based operations clocked a 13% uptick sales for fourth quarter, primarily driven by Donna Karan/DKNY with comparable quarter sales growing 21%. Guess and Ferragamo also saw mid-single-digit sales growth during the quarter, relative to the very high base in the prior year period, added the company.

For the full year, U.S.-based sales by 33%, led by Donna Karan/DKNY, Guess, and Ferragamo achieving gains of 205%, 23% and 21%, respectively. 

“With ongoing strength in the overall fragrance market and our successful distribution execution, we grew sales by 6% during the quarter. The better-than-expected performance in the final quarter culminated in 21% sales growth for the year, surpassing our guidance of $1.3 billion,” Jean Madar, chairman and chief executive officer of Inter Parfums.

“Of note, the quarterly growth rate in comparison to the full year reflects the elevated sales baseline from the preceding year. Furthermore, compared to 2019, our sales were up 85% for both the fourth quarter and full year 2023.”

Madar concluded, “Our stimulating pipeline of innovative products across our portfolio of brands, now inclusive of Lacoste and Roberto Cavalli, a fully operational Italian affiliate in Florence, Italy, and our dynamic positioning within the industry, strengthen our confidence in gaining further market share in the years ahead and deliver another record year in 2024.”