Inter Parfums H1 Net Sales Reaches $621M Remaining Cautious on China Recovery

Inter Parfums' full-year 2023 guidance includes expected net sales of approximately $1.3 billion, or 20% growth from full-year 2022, and an earnings per diluted share guidance of $4.55, a 20% growth from $3.78 for full-year 2022.

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Inter Parfums, a global player in the fragrance industry, reported strong financial results for Q2 and H1 2023, with net sales of $309 million and $620.97 million, respectively.

The company's Chairman and CEO, Jean Madar, attributed this growth to positive market trends and innovative programs that have helped increase market share. Furthermore, the company has seen robust growth across its 120-country distribution footprint, with signs of renewed life in the travel retail business.

However, Inter Parfums remains cautious about the reopening of the Chinese fragrance market, as the market has yet to show significant growth potential. The company's CFO, Michel Atwood, noted that the supply chain disruptions and inflationary impacts on components are mostly behind them, and they are confident in achieving another excellent year in 2023.

Inter Parfums' full-year 2023 guidance includes expected net sales of approximately $1.3 billion, or 20% growth from full-year 2022, and an earnings per diluted share guidance of $4.55, a 20% growth from $3.78 for full-year 2022. The company's guidance assumes that the dollar/euro average exchange rate remains at current levels and does not yet include initial sales of the newly acquired fragrance licenses, Roberto Cavalli and Lacoste, which are expected to start shipping in November/December 2023 and 2024, respectively. Overall, Inter Parfums' strong financial performance and optimistic outlook reflect its ability to navigate the challenges of the fragrance industry and capitalize on growth opportunities.