Inter Parfums, Inc. Reports Record 2023 Third Quarter Net Sales

Inter Parfums, Inc. (NASDAQ GS: IPAR) (“Inter Parfums” or the “Company”) today announced that for three months ended September 30, 2023, net sales rose to $368 million, up 31% from $280 million, in the third quarter of 2022.

Net Sales: ($ in millions)

Three Months Ended
September 30,

Nine Months Ended
September 30,

 

2023

2022

% Change

2023

2022

% Change

Total Inter Parfums, Inc

$368

$280

31%

$989

$776

27%

European based product sales

$233

$198

18%

$662

$547

21%

United States based product sales

$135

$82

64%

$327

$229

43%

At comparable foreign currency exchange rates, consolidated net sales for three months and nine months ended September 30, 2023, increased 27% and 26%, respectively, compared to same periods last year. Of note, the average dollar/euro exchange rate for the current third quarter was 1.09 compared to 1.01 in the third quarter of 2022, while for the first nine months of 2023, the average dollar/euro exchange rate was 1.08 compared to 1.06 in the same period in 2022, leading to a positive 4% and 1% foreign exchange impact for the quarter and first nine months, respectively.

Jean Madar, Chairman & Chief Executive Officer of Inter Parfums, stated, “Strong market conditions, in combination with increased market share driven by new product launches, brand extensions, and the continued popularity of our legacy scents, led to 31% sales growth for the total company during the third quarter, and 27% on a year-to-date basis.