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Interparfums Earnings Release 2023
1445_iss_2023-11-22_2439ecc9-cda6-478a-8658-78ff44abb0c9.pdf
Earnings Release
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2024 outlook Continuing growth
2023: Another year of strong growth
In a global perfume market that remained exceptionally strong up until the summer, before returning to more normal levels of growth in September, Interparfums is set to achieve another year of double-digit growth with annual sales of around €800m, up 12%-13% on 2022, and an operating margin of 18%-19% for the full year.
This performance was driven by contributions from a number of regions, including Europe, Asia and especially North America, with the US market up by 12.5%* for the first nine months of 2023, compared to 23%* by the Group over the same period.
2024: Continuing growth momentum
As every year, sales in 2024 will be bolstered by a number of new initiatives for all the portfolio's brands. The upcoming year will also be devoted to the Lacoste brand, as commercial activity begins for selected lines and a new men's line is launched, the Group's first initiative since the license agreement was concluded at the end of 2022.
On that basis, Interparfums is looking forward to continuing growth in 2024 with a target for annual sales of €880-€900m.
Upcoming events
2023 annual sales January 24, 2024 (before the opening of the stock market)
2023 results February 28, 2024 (before the opening of the stock market)
Investor Relations and Analysts Contact
Philippe Santi Executive Vice President [email protected]
Press contact
Cyril Levy-Pey Communication Director [email protected]
* Source NPD: retail figures to September 30, 2023
Philippe Benacin, Chairman and CEO, commented: " Following a period of very rapid growth over the last few years during which sales climbed from €500m to €800m, we are currently seeing signs of a slowdown in certain markets. Despite this, we are expecting growth of 10% to 12% in 2024, driven notably by the first year of activity for Lacoste fragrances, a brand on which we are focusing considerable efforts and attention, but also by a global perfume market which, while less dynamic, will continue to benefit from positive momentum and scale."
Paris, November 22, 2023
Interparfums 10 rue de Solférino 75007 Paris Tel. +33 (0)1 53 77 00 00 This press release is available in French and English on the company's website interparfums-finance.fr
ISIN : FR0004024222-ITP Reuters : IPAR.PA Bloomberg : ITP Euronext Compartment A Eligible for Deferred Settlement Service (SRD) Eligible for PEA Index - SBF 120, CAC Mid 60