Inter Parfums’ recently secured licence deals with Lacoste and Robert Cavalli have contributed to bumper Q1 2024 sales.
Fragrance launches for the two perfume brands began in January, with a “favourable” initial reception supporting a 4% increase in sales from US$312m to $324m.
The fragrance maker’s US operations saw the largest gains during the quarter, with sales up 18% to $96m.
This was driven by DKNY and Guess, as well as the launch of Roberto Cavalli’s fragrance range in January.
European sales fell flat, however, as the Eastern European market was adversely impacted by sourcing constraints.
A strong demand for Inter Parfums hero brands, as well as favourable initial shipments of Lacoste fragrances, helped to offset the challenges in Europe slightly.
“While the global fragrance market is not growing as fast as in 2023, it remains healthy,” said Jean Madar, Chairman and CEO of Inter Parfum.
“The concentration of launches during the prior year period created a more challenging comparison for the first quarter of 2024, but we anticipate significant growth for the balance of the year with our strong pipeline of innovation across all key brands in our portfolio.”
Coach fragrance sales also rose 5%, while Jimmy Choo and Montblanc experienced declines in demand during the quarter.
“We are confident in our dynamic market positioning and remain optimistic about our ability to continue to gain market share within this growing market; as such, we are reaffirming our 2024 net sales guidance of $1.45bn,” added Madar.
The positive Q1 results come after Inter Parfums reported sales of $1.3bn in 2023.
The business said it plans to maintain this moment in 2024, which includes the launch of a new four-scent premium collection for Montblanc.
There will also be several new launches for Jimmy Choo, which has already included the release of I Want Choo and Flash.
