Inter Parfums has posted another consecutive quarter of sales growth driven by its recently secured fragrance licences.
Income increased by 11% to US$342m in Q2, with Lacoste and Robert Cavalli contributing 9% in sales growth.
Sales for Guess and DKNY, two of Inter Parfums’ largest brands, were also up 8% and 14% respectively in the first half of 2024.
Montblanc sales declined slightly during the quarter, however, with the business expecting its performance to pick up in the second half of the year.
US sales increased by 8% to $120m, while the fragrance maker’s European arm saw the largest gains during the quarter with sales up 14% to $226m.
Growth in Europe was led by sales of Jimmy Choo, up 31%, with Inter Parfums looking to maintain the brand’s momentum with an extension to the I Want Choo line later this year.
The demand for Jimmy Choo helped to offset challenges in the Eastern European market, which continues to be impacted by Russia’s invasion of Ukraine.
“While the global fragrance market remains robust with positive trends leading to strong demand for our products, sell-in continues to grow more slowly than sell-out and we are seeing continued challenges in Eastern Europe,” said Jean Madar, Chairman and CEO of Inter Parfums.
The company is preparing to roll out a third extension to its Uomo line, Uomo Intenso, as well as a new addition to Guess with its upcoming Elements launch this year.
Inter Parfums has also extended its licence agreement with a luxury jewellery company Van Cleef & Arpels for another nine years.
The two companies originally inked the deal in 2006, with Inter Parfums manufacturing and distributing perfumes for Van Cleef.
The positive Q2 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.