The Interparfums group expects growth of 10% to 12% over 2024, driven by its new Lacoste licence
For its 2023 financial year, Interparfums the French group, which specialises in licensed fragrances, anticipates sales of around 800 million euros, representing growth of 12% to 13% compared to 2022. It also expects an operating margin of 18% to 19% over the full year. Interparfums holds the licenses for the perfumes of the likes of Montblanc and Jimmy Choo.
This performance is driven by regions such as Europe and Asia, as well as North America. Among the brands, Montblanc and Jimmy Choo fragrances have both acheived sales of 210 million euros, up by 14% and 16% respectively. Coach fragrances saw sales rise by 17% to 180 million euros.
"After very rapid growth in recent years, with sales rising from €500 million to €800 million, we are now seeing signs of a slowdown in some markets. Nevertheless, we anticipate growth in the order of 10% to 12% in 2024, driven in particular by the first year of activity of Lacoste fragrances, a brand on which we are concentrating a great deal of effort and attention, but also by a global fragrance market which, although less dynamic, is still positive and of significant size," says Philippe Benacin, CEO of Interparfums.
In December 2022, Interparfums took over the worldwide fragrance licence for the Lacoste fashion label, previously held by the American group Coty. This fifteen-year agreement will take effect on January 1, 2024.
In its first year of activity under the Interparfums umbrella, Lacoste fragrances are expected to generate sales of between €50 and €60 million, providing a significant boost to the growth of the licensing specialist.
Against this backdrop, by 2024, Interparfums' sales should oscillate between €880 and €900 million. Excluding Lacoste's performance, growth would be 3%.
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