Inter Parfums Inc. has announced that for the three months ended September 30, 2023, net sales rose to $368 million, up 31% from $280 million in the third quarter of 2022.
 
On a year-to-date basis, the company’s net sales for the nine months ended September 30 grew 27% compared to 2022.
 
Jean Madar, Chairman & Chief Executive Officer of Inter Parfums, attributed this growth to strong market conditions in combination with increased market share driven by new product launches, brand extensions and the continued popularity of legacy scents.
 
Revisit Inter Parfums’ second quarter results.

Segments and Regions

Inter Parfums’ European-based operations grew sales 18% during the third quarter, and all of the company’s brands achieved top line growth. Sales of its three largest brands, Coach, Montblanc, and Jimmy Choo increased by 32%, 20% and 6%, respectively.
 
More recent launches, including Jimmy Choo Rose Passion, Montblanc Signature Absolue and Explorer Platinum, and Coach Green and Love continued to be strong performers. Inter Parfums’ mid-sized brands, Lanvin, Kate Spade, Rochas, Van Cleef & Arpels, and Karl Lagerfeld also achieved sales growth.
 
Within our U.S. based operations, the company’s 64% growth during the third quarter was primarily driven by outstanding performances in Donna Karan/DKNY, GUESS, and Ferragamo. These brands saw 230%, 59% and 55% growth, respectively.

New Launches

During the quarter, Inter Parfums launched the GUESS Originals trio of fragrances, a collection of gender-inclusive fragrances, Hollister’s Feelin’ Good duo, and initiated Phase 1 of the Abercrombie & Fitch Fierce distribution roll-out. The company began with introductory distribution of this fragrance in select markets and expects the majority of the Phase 1 distribution to roll-out during the fourth quarter.
 
Inter Parfums also introduced its first brand extension for DKNY, Be Delicious Orchard St., and it has performed exceptionally well since its launch in August. As previously expected, the fashion house duo, Donna Karan/DKNY, is now its second largest brand within its U.S. based operations.

Looking Forward

Madar concluded, “We are continuing to dedicate appropriate resources to ensure maximum effort and output for our licensors, suppliers, distributors, and manufacturers, particularly as we head into the holiday season. We believe we are well positioned to meet the demand of our retailers and consumers on our way to another record year.”
 
An update on the company’s full-year 2023 guidance will be announced in conjunction with the issuance of third quarter 2023 consolidated results.