Interparfums forecasts encouraging growth in 2025, with net sales expected to reach “910 to 930 million euros,” compared to 880 to 890 million euros expected this year.
Moving upmarket
The very high end segment should contribute to this performance, partly thanks to the launch of a new proprietary brand, Solferino, intended for the collector’s fragrance market.
“With the Solferino collection, a proprietary brand under development for the past two years, we will have a rich and unique universe perfectly suited to the high-end fragrance market. This represents a first strategic step in the implementation of a new path for development in a market that has been showing very strong growth for several years now,” said the group’s Chairman and CEO, Philippe Benacin, in a statement published on Wednesday, November 13.
The new Solferino brand, a collection of 10 premium fragrances, “developed by star perfumers,” will be launched “through an ultra-selective network of around a hundred doors initially.” A first boutique “entirely dedicated to the brand,” should be up and running by the end of the year, along with an e-commerce site. The group plans the new brand to be sold through a network of a thousand doors worldwide after five years.
Known for having successfully developed the perfume lines of third party brands (Jimmy Choo, Montblanc, Lacoste, Moncler, Coach, etc.) under licensing agreements, Interparfums already has two proprietary brands: Rochas (purchased from Procter & Gamble in 2015) and Lanvin.
“The launch of this new brand reflects the company’s medium-term growth strategy in the extremely buoyant high-end fragrance market,” highlighted the group, who also plans to further extend this strategy to Moncler fragrances, “whose development will henceforth be based mainly on strengthening the Les Sommets collection through highly selective distribution.”
Interparfums also intends to develop new flankers, notably for the Montblanc Explorer, Jimmy Choo Man, Coach Woman, Coach Man, Lacoste L.12.12 and Lacoste Orignal franchises.
Double-digit growth in 2024
As far as 2024 is concerned, Interparfums forecasts sales to achieve further growth of over 10%, to reach EUR 880 to 890 million, “in line with projections,” driven in particular by “the remarkable performance of Lacoste fragrances.”
The group’s current operating margin is expected to exceed 19% in 2024 and “once again” to exceed 19% in 2025.
