par INTER PARFUMS (EPA:ITP)
Q3 2024 sales: €258m (+20%)
Q3 2024 sales: €258m (+20%)
Q3 2024 sales came to €257.6m, up 20% at current A return to normal business levels in Eastern Europe exchange rates and 20.2% at constant exchange rates and Asia in Q3 helped Lanvin fragrances curb the from Q3 2023, reflecting continued strong momentum decline in sales over the first nine months in the for the Group’s top-selling brands. In a worldwide absence of a major launch. perfume market that remains buoyant overall, this
growth was driven in particular by the solid performance Highlights by region of Jimmy Choo, Montblanc and Coach fragrances, as well
as the increasing success of Lacoste fragrances thanks to €m Q3 Change 9 months Change the launch of Lacoste Original, with actor Pierre Niney as 2023 2024 24/23 2023 2024 24/23
global ambassador. Africa 0.8 1.7 ns 4.1 4.6 +12%
Asia 25.2 29.9 +18% 89.8 99.9 +11%
Sales for the first nine months of 2024 came to
€680.2m, up 11.4% at current exchange rates and Eastern Europe 18.5 23.9 +29% 52.0 54.6 +5% 11.5% at constant exchange rates compared to the France 10.8 12.5 +15% 32.0 41.0 +28%
same period in 2023. Middle East 10.5 15.4 +47% 39.9 44.0 +10%
North America 96.8 105.2 +9% 236.8 247.8 +5%
Highlights by brand
South America 16.1 18.1 +12% 51.7 60.7 +17%
€m Q3 Change 9 months Change
Western Europe +42% 104.4 127.6 +22%
2023 2024 24/23 2023 2024 24/23 Total sales +20% 610.7 680.2 +11%
Jimmy Choo 57.9 66.9 +15% 159.0 167.9 +6% ns : not significant
Montblanc 54.7 59.6 +9% 162.1 162.6 +1%
Coach 53.8 53.0 -2% 139.8 138.9 -1% In North America, following the very strong acceleration Lacoste - 26.8 na - 63.5 na in sales in the first nine months of 2023 (+22%), driven Lanvin 10.3 13.3 +30% 37.5 34.3 -9% in particular by several major launches, momentum remained positive in Q3 2024 with sales of more than
Rochas 11.4 10.3 -10% 31.1 30.8 -1%
€100m (+9%), in a persistently dynamic perfume market;
Other brands +5% +1%
South America maintained the positive trend observed
Total sales +20% +11% in 2023, with growth of 17% driven by the positive na : not applicable contribution from Lacoste fragrances distribution and the strength of Montblanc fragrances;
Thanks to the successful launch of the Jimmy Choo While certain Asian markets are currently experiencing I Want Choo Le Parfum line initiated last June, Jimmy a period of consolidation after three years of very Choo fragrances maintained their upward trend with strong growth (Australia), or appear less dynamic growth of more than 15% in Q3 2024; (South Korea), the overall trend remained positive,
Following a 19% rise in sales over the first nine particularly in China and Singapore;
months of 2023, Montblanc fragrances recorded Resumption of shipments in certain Eastern European
9% growth in Q3 2024, consolidating their positive markets led to renewed growth; performance owing to the strength of the Montblanc Western Europe recorded growth of 42% in Q3 2024, Legend and Montblanc Explorer lines; and 22% for the first nine months, thanks in particular
After a sharp increase in sales in 2023, sustained to the Jimmy Choo I Want Choo Le Parfum and Lacoste demand for virtually all established Coach women’s Original launches; and men’s lines continued to drive the success of Sales in France exceeded expectations based on its fragrances in 2024. Two major new fragrance excellent performances by top-selling brands, further interpretations will be launched in 2025; heightened by the impressive contribution from the With sales of nearly €27m in Q3 and exceeding distribution of Lacoste fragrances and the launch of the
€60m for the first nine months, Lacoste fragrances Lacoste Original line; maintained the stunning momentum they have Finally, although the Middle East continues to be affected exhibited since the assumption of operations on by a reduction in the number of points of sale in several January 1, supported by the solid performance of the markets throughout the region, business remained L.12.12 lines and the French and worldwide launch of buoyant in Q3 2024, driven by Montblanc, Jimmy Choo the Lacoste Original line; and Lacoste fragrances.
Philippe Benacin, Chairman and CEO commented: “W e achieved an excellent performance in the third quarter, driven in large part by the dynamism of Jimmy Choo and Lacoste fragrances, as well as early year-end orders by certain distributors. Q4 sales of approximately €200-210m, as currently expected, should make it possible to reach our annual targets for 2024. ”
Philippe Santi, Executive Vice President, added: “ Gross margin discipline, as well as brand- and region-specific calibration of marketing and advertising spending should help to bring profitability in line with the guidance issued at the start of the year, for a 2024 full-year operating margin of around 19%. ”
Paris, October 22, 2024
Interparfums This press release is available 10 rue de Solférino in French and English
75007 Paris on the company’s website Tel. +33 (0)1 53 77 00 00 interparfums-finance.fr
Upcoming event
Publication of 2025 outlook November 13, 2024
(before the opening of the Paris stock market)
Investor Relations and Analysts Contact
Philippe Santi Executive Vice President psanti@interparfums.fr
Press contact
Cyril Levy-Pey Communication Director clevypey@interparfums.fr
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