Inter Parfums, Inc. Reports Record 2024 First Quarter Net Sales

Inter Parfums, Inc. (NASDAQ GS: IPAR) (“Inter Parfums” or the “Company”) today announced that for the three months ended March 31, 2024, net sales rose to $324 million, up 4% from $312 million, in the first quarter of 2023.

Net Sales:

($ in millions; data may not foot due to rounding)

Three Months Ended

March 31,

 

2024

2023

% Change

Total Inter Parfums, Inc.

$324

$312

4%

European based product sales

$231

$230

flat

United States based product sales

$96

$82

18%

Eliminations of intercompany sales

($3)

-

n/a

- The average dollar/euro exchange rate for the 2024 first quarter was 1.09 compared to 1.07 in the 2023 first quarter, leading to a positive 0.6% foreign exchange impact for the 2024 first quarter.

- Eliminations of intercompany sales relate to European based operations product sales to United States based operations.

Management Commentary:
Jean Madar, Chairman & Chief Executive Officer of Inter Parfums, stated, “With ongoing momentum in the fragrance market and favorable initial shipments of Lacoste and Cavalli fragrances, we delivered another record in first quarter sales. Our net sales growth of 4% was expected, considering the 24% sales growth achieved in the same quarter of 2023. We are focused on optimizing the timing of our launches throughout 2024, aiming for a more balanced distribution compared to the heavy concentration of new fragrance launches in the first quarter of last year.