With sales approaching EUR 800 million in 2023, and up from just above EUR 700 million the previous year, Interparfums posted another double digit growth year (+13%) in 2023. “While sales price increases introduced at the beginning of the year contributed to this performance, growth was largely organic, with an 11.5% increase in volume sales on continuing strong demand for the portfolio’s top-selling brands, resulting in double-digit gains for the year,” said the company in a statement.
Jimmy Choo fragrances, now the Group’s top-selling brand, had more than €200m in sales, up 16%, driven by the established Jimmy Choo and Jimmy Choo Man lines, and above all the continuing international success of the I Want Choo and I Want Choo Forever lines, launched in 2021 and 2022. With sales also exceeding EUR 200 million, up 12%, Montblanc fragrances’ steady gains continued to be driven by the solidity of the Montblanc Legend franchise, the enduring strength of the Montblanc Explorer franchise, plus an additional boost from the launch of the Montblanc Explorer Platinum line at the beginning of the year.
Nearly all regions reported growth, with the exception of the Middle East and Africa. With sales of EUR 323 million, up nearly 13%, North America’s strong momentum remains intact.
“Despite an extremely complex global context in terms of geopolitics, the economy and also the supply chain, we had a very good year in 2023, significantly exceeding our initial forecasts. Our portfolio’s three top-selling brands posted double-digit growth based on annual sales now ranging between EUR 180 million and EUR 210 million. 2024 will be highlighted by the start of operations for the Lacoste brand.We are convinced of its significant potential and are extremely confident in our ability to establish its position as a major brand in our portfolio in the near future,” commented Philippe Benacin, Chairman and CEO of Interfparfums.
“While H2 2023 gross margins will be to some extent affected by inflation of certain components, this impact should be largely offset by sales price increases introduced at the beginning of the year. By maintaining tight controls over all expenses, especially marketing and advertising, the operating margin for 2023 should exceed 19%,” added Philippe Santi, Executive Vice President.
