Interparfums Sets New Records and Expands Portfolio with Exciting Launches
In a remarkable display of growth and innovation, Interparfums Inc. concluded 2024 on a high note, achieving record fourth-quarter sales and earnings. The company's consolidated results, which include operations through its French subsidiary Interparfums SA (72% owned) and US-based operations, reached $1.452 billion in sales, beating guidance estimates.
Chairman and CEO Jean Madar proudly highlighted the year's achievements during the Q4 2024 conference call, citing the successful launch of two new brands, Lacoste and Roberto Cavalli. The company also renewed its license agreement with Van Cleef & Arpels, solidifying an 18-year partnership.
Interparfums' portfolio saw significant growth, with Jimmy Choo, the largest brand, increasing sales by 7% for the second year in a row, driven largely by the success of the I Want Choo franchise. GUESS also had a stellar year, growing 13%, thanks to robust performance from its legacy scents and the initial success of its new pillar, GUESS Iconic.
The Donna Karan/DKNY fragrances portfolio joined mid-2022 and has already generated sales in excess of $100 million. Ferragamo, which Interparfums took a license for three years ago, saw significant progress under the company's management, with plans to launch a new blockbuster fragrance, Fiamma, backed by a substantial investment of over $20 million.
Regarding Lacoste, Madar noted that it "far exceeded our expectations" in its first year under Interparfums' management, achieving sales of over $84 million. The company is committed to transforming the brand's presence through strategy, creativity, market insight, and commercial innovation, setting a new standard in its space.
Roberto Cavalli met expectations during its first year in Interparfums' prestige portfolio, adding 2% to the top line with sales of $31 million. The company's recognition by Time magazine as one of the World's Best Companies - Sustainable Growth ranking further solidified its commitment to economic growth and environmental responsibility.
With a strong pipeline of new launches and a continued focus on innovation and sustainability, Interparfums is poised for even greater success in 2025. As the company looks to expand its off-price fragrance business starting in 2026, investors can expect exciting developments from this dynamic player in the luxury goods industry.
Interparfums' record-breaking performance and expanding portfolio position it as a major force in the world of fragrances and beyond, making it an attractive investment prospect for those looking to capitalize on the company's continued growth and innovation."
