Inter Parfums, Inc. Announces Initial 2024 Guidance - Seite 2

“We will be boosting Ferragamo’s fragrance lines with two extensions planned for distribution in early 2024. We’ve also reinforced our commitment to our Italian operations by designating our Florence, Italy office as a distribution hub for all of our brands, in both our European based operations and United States based operations, beginning in 2024.

“For full-year 2024, we expect our established brands will produce approximately 5% organic growth across our global business, inclusive of travel retail.”

Michel Atwood, Chief Financial Officer of Inter Parfums, Inc. concluded, “While our gross margin in 2024 should broadly approximate those of 2023, the rate of 2024 sales growth exceeds that of earnings, primarily because of launch investment associated with our two newest brands, Cavalli and Lacoste. Furthermore, the Lacoste non-cash amortization expense of the acquisition cost should reduce earnings per diluted share by approximately $0.11.

“Going into the new year, once we have further visibility into 2023 holiday sell-out trends and how 2024 has started post-holiday, we will provide an update on our expectations, if warranted. As we continue on the positive trajectory in achieving yet another record-level sales and earnings year, we are confident in our expertise to drive further growth and earnings power.”

About Inter Parfums, Inc.

Operating in the global fragrance business since 1982, Inter Parfums, Inc. produces and distributes a wide array of prestige fragrance and fragrance-related products under license agreements with brand owners. The Company manages its business in two operating segments, European based operations, through its 72% owned subsidiary, Interparfums SA, and United States based operations.

The portfolio of prestige brands includes Abercrombie & Fitch, Anna Sui, Boucheron, Coach, Donna Karan, DKNY, Ferragamo, Graff, GUESS, Hollister, Jimmy Choo, Karl Lagerfeld, Kate Spade, MCM, Moncler, Montblanc, Oscar de la Renta, Roberto Cavalli, Ungaro, and Van Cleef & Arpels, whose products are distributed in over 120 countries around the world through an extensive and diverse network of distributors. Inter Parfums, Inc. is also the registered owner of several trademarks including Lanvin and Rochas.