Inter Parfums Reports 10% Increase in Net Sales to $1.45 Billion for Fiscal Year 2024

Inter Parfums, Inc. reported a 10% increase in net sales for the fiscal year ending December 31, 2024, reaching $1.45 billion, compared to $1.32 billion in 2023. The growth was attributed to strong performances from key brands, particularly Jimmy Choo, which saw a 7% increase in sales, and the successful launch of Lacoste, which generated $85 million in its first year. The company's European operations accounted for approximately 65% of total sales, while U.S. operations contributed 35%. Net income attributable to Inter Parfums, Inc. rose to $164.4 million, up from $152.7 million in the previous year.

The company experienced notable changes in its brand portfolio, including the acquisition of the Off-White brand names and trademarks for fragrance and cosmetic products, which will be commercially utilized starting in 2026. Additionally, Inter Parfums entered into a global licensing agreement for Roberto Cavalli fragrances in July 2023 and renewed its license with Van Cleef & Arpels for an additional nine years. The introduction of new products and brand extensions, such as the Solférino collection of niche fragrances, is part of the company's strategy to enhance its market presence.

Operationally, Inter Parfums reported a total employee count of 647 as of December 31, 2024, with 353 employees in Europe and 294 in the United States. The company continues to expand its global distribution network, with products sold in over 120 countries. The North American market remains the largest, achieving a 6% sales growth, while Western Europe saw a 21% increase. The company’s gross profit margin was reported at 63.9%, slightly up from 63.7% in 2023, driven by favorable brand and channel mix.

Looking ahead, Inter Parfums anticipates continued growth in 2025, supported by a strong pipeline of new product launches and expansion of e-commerce channels. The company plans to introduce new fragrances for established brands and capitalize on the momentum from recent acquisitions. However, it also acknowledged potential challenges, including inflationary pressures and the need to manage inventory levels effectively. The company remains committed to leveraging its financial position to explore further acquisitions and brand licenses to strengthen its portfolio in the prestige fragrance market.