Interparfums, Inc: A Comprehensive Corporate Profile

Quick Facts / Company Snapshot

• Corporate Name: Interparfums, Inc.
• Founding Year: 1982
• Headquarters (Global): 551 Fifth Avenue, New York, New York 10176
• Headquarters (European Operations): 10 rue de Solférino, 75007 Paris, France
• Core Industry: Prestige Fragrances and Fragrance Related Products
• 2024 Net Sales: $1.452 billion
• 2024 Net Income Attributable to Interparfums, Inc.: $164.4 million
• 2024 Diluted Earnings Per Share: $5.12
• Total Assets (2024): $1.411 billion
• Total Equity (2024): $942.6 million
• Full-Time Employees: 647 (at year-end 2024)
• Sales Per Employee: Over $2 million
• Global Distribution Reach: Over 120 countries
• Largest Market: North America ($541.9 million sales in 2024)
• Largest Brand (Revenue Contribution): Jimmy Choo (17% of net sales)
• European Operations Revenue Share: 65% (approximately)
• United States Operations Revenue Share: 35% (approximately)
• Major Subsidiary: Interparfums SA (72% owned, publicly traded on Euronext)
• Dividend Per Share (2024 Declared): $3.00
• Stock Symbol: IPAR (Nasdaq Global Select Market)

Company Overview

Interparfums, Inc. operates as a major player in the global fragrance industry, specializing in the manufacturing, marketing, and distribution of a wide array of prestige fragrances and fragrance-related products. Founded in 1982, the organization has established itself as a general contractor in the beauty sector, sourcing components from suppliers and utilizing third-party fillers to manufacture finished products rather than owning and operating its own manufacturing facilities. This asset-light business model allows the company to focus its resources on brand development, marketing, and distribution.

The company manages its business through two distinct operational segments: European-based operations and United States-based operations. The European arm produces and markets prestige fragrance products primarily through a 72% owned subsidiary in Paris, Interparfums SA, which is also a publicly traded entity on the Euronext exchange. The company’s portfolio consists primarily of prestige brands licensed from unaffiliated third parties, including internationally renowned fashion houses and luxury goods brands.

Interparfums, Inc. acts as a strategic partner to brand owners, overseeing the entire product lifecycle from concept and development to manufacturing and global distribution. The creation and marketing of each product family are intimately linked with the brand’s name, positioning, and customer base. The company typically launches new fragrance families, known as “blockbusters,” every few years, while frequently introducing seasonal and limited-edition fragrances, referred to as “flankers” or “line extensions,” to maintain market engagement.

With a workforce of 647 full-time employees worldwide at the end of 2024, the company achieves high efficiency, generating over $2 million in sales per employee. The organization is committed to building a global distribution footprint, operating distribution subsidiaries in major markets such as the United States, France, Italy, and Spain, while coordinating with third-party distributors elsewhere.

Business Segments

Interparfums, Inc. organizes its operations into two primary reportable segments based on geography and operational structure: European Based Operations and United States Based Operations.

European Based Operations

• 2024 Net Sales: $953.0 million
• Percentage of Total Net Sales: ~65.6%
• Operational Scope: This segment is primarily conducted in France through Interparfums SA. It includes the results and assets of Interparfums Luxury Brands, Inc., located in the United States. This segment focuses on prestige brand name fragrances licensed from brand owners.
• Key Brands: Jimmy Choo, Montblanc, Coach, Lacoste, Karl Lagerfeld, Moncler, Van Cleef & Arpels, Rochas, Kate Spade, Lanvin, and Boucheron.
• Performance: In 2024, sales for this segment grew by 10% compared to 2023. This growth was fueled by the strong performance of the Jimmy Choo brand, the addition of the Lacoste license, and solid execution across smaller brands. The segment utilizes third-party logistics providers for key services such as packing, shipping, warehousing, and order fulfillment.

United States Based Operations

• 2024 Net Sales: $511.3 million
• Percentage of Total Net Sales: ~35.2%
• Operational Scope: Assets and business operations are primarily conducted in the United States and include the results and assets of Interparfums Italia Srl, located in Italy. This segment creates, produces, and distributes fragrances primarily under license agreements or other agreements with brand owners.
• Key Brands: GUESS, Donna Karan/DKNY, Ferragamo, Roberto Cavalli, Abercrombie & Fitch, Hollister, MCM, Oscar de la Renta, Anna Sui, and Emanuel Ungaro.
• Performance: Net sales rose 12% in 2024, primarily driven by the group’s two largest brands in this segment, GUESS and Donna Karan/DKNY. The segment also saw contributions from the strong momentum of MCM and the addition of Roberto Cavalli. The company is currently transitioning its self-operated warehouse in Dayton, NJ, to a third-party logistics model to streamline operations.

History and Evolution

Founded in 1982, Interparfums, Inc. has spent over 40 years building a portfolio of well-known prestige brands through acquisitions and new license agreements. The company has a long tradition of partnering with fashion designers and luxury goods firms to translate their brand equity into successful fragrance products.

Key Historical Milestones and Recent Developments:

• 2006: Signed initial 12-year license agreement with Van Cleef & Arpels.
• 2007: Acquired worldwide rights to Lanvin brand names and trademarks.
• 2009: Entered into an exclusive 12-year worldwide license agreement for Jimmy Choo.
• 2010: Entered into an exclusive license agreement for Montblanc.
• 2012: Entered into a 20-year worldwide license agreement with Karl Lagerfeld.
• 2013: Entered into an exclusive worldwide license for Oscar de la Renta.
• 2015: Acquired the Rochas brand from The Procter & Gamble Company. Entered into an exclusive license for Coach.
• 2018: Entered into exclusive license agreements for GUESS and Graff.
• 2019: Entered into exclusive license agreements for Kate Spade and MCM.
• 2020: Entered into an exclusive license agreement with Moncler.
• 2021: Closed a transaction with Salvatore Ferragamo S.p.A. for an exclusive worldwide license. Entered into a long-term global licensing agreement for Donna Karan and DKNY. Acquired the headquarters of Interparfums SA in Paris.
• 2022: Closed a transaction agreement with Lacoste for an exclusive worldwide license (effective January 1, 2024).
• 2023: Closed a transaction agreement with Roberto Cavalli for an exclusive worldwide license. Announced agreement to distribute Abercrombie & Fitch’s Fierce fragrance.
• 2024: Achieved record sales of $1.452 billion. Renewed Van Cleef & Arpels license through 2033. Obtained Off-White brand names and trademarks for class 3 products (commercial use beginning 2026).
• 2025: Extended Coach license through June 2031. Acquired worldwide intellectual property rights for Maison Goutal. Announced the launch of the first proprietary brand, Solférino.

Products and Services

Interparfums, Inc. focuses on creating and distributing prestige fragrances. The product development process involves extensive market study, concept choice, and collaboration with independent perfumery design companies and fillers. The company’s product strategy revolves around launching new “blockbuster” fragrance families and supporting them with “flankers.”

• Prestige Fragrances: The core offering includes Eau de Parfum, Eau de Toilette, and Colognes for men and women. These products are developed to align with the specific image and positioning of each licensed brand.
• Fragrance Related Products: The company selectively broadens its product offering beyond fragrances to include personal care products such as body lotions, shower gels, deodorants, and aftershaves under its existing brands.
• Proprietary Innovation: In 2025, the company will unveil its first proprietary brand, Solférino, a collection of 10 niche fragrances developed by star perfumers, targeting the high-end collector’s market.

Brand Portfolio

The company’s portfolio is diversified across numerous high-profile fashion and luxury brands. Below is a detailed breakdown of the brands sorted by their contribution to 2024 revenue.

1. Jimmy Choo

• 2024 Revenue Share: 17%
• Estimated Revenue: ~$246.9 million (calculated based on 17% of $1.452 billion)
• Profile: This is the largest brand in the portfolio. The license agreement runs through December 31, 2031. Established fragrance collections include Jimmy Choo, Jimmy Choo Man, and Jimmy Choo I Want Choo. In 2024, sales grew by 7%, fueled by the I Want Choo franchise. The brand launched I Want Choo Le Parfum in 2024 and plans to introduce a new Jimmy Choo Man fragrance in 2025.

2. Montblanc

• 2024 Revenue Share: 15%
• Estimated Revenue: ~$217.8 million (calculated based on 15% of $1.452 billion)
• Profile: The second-largest brand, licensed through December 31, 2030. Montblanc creates products reflecting timeless design and tradition. Key lines include Legend, Emblem, and Explorer. Legend is the best-selling men’s line. In 2024, the brand launched the four-scent Montblanc Collection and Legend Blue.

3. Coach

• 2024 Revenue Share: 14%
• Estimated Revenue: ~$203.3 million (calculated based on 14% of $1.452 billion)
• Profile: The third-largest brand, licensed through June 2031. Coach embodies New York’s casual elegance. Major collections include the signature women’s and men’s scents, Coach Dreams, Coach Wild Rose, and Coach Open Road. Sales held steady in 2024 after 25% growth in 2023.

4. GUESS

• 2024 Revenue Share: 12%
• Estimated Revenue: ~$174.3 million (calculated based on 12% of $1.452 billion)
• Profile: The largest brand within the United States-based operations. The license runs for 15 years from 2018. Fragrance sales rose 13% in 2024, closing in on $200 million. Key products include legacy scents, Bella Vita, and Uomo. New launches in 2024 included Uomo Intenso, Iconic, and the Amore collection.

5. Donna Karan / DKNY

• 2024 Revenue Share: 7%
• Estimated Revenue: ~$101.7 million (calculated based on 7% of $1.452 billion)
• Profile: This brand surpassed $100 million in sales in 2024, growing by 9%. Notable franchises include Donna Karan Cashmere Mist and DKNY Be Delicious. The brand launched the Cashmere Collection and the blockbuster DKNY 24/7 in 2024.

6. Lacoste

• 2024 Revenue: $85 million
• 2024 Revenue Share: 6%
• Profile: In its first year under management (license effective January 2024), sales far exceeded expectations. The license lasts for 15 years. The company relaunched Lacoste Original and introduced the L.12.12 fragrance line in 2024.

7. Ferragamo

• 2024 Revenue Share: 5%
• Estimated Revenue: ~$72.6 million (calculated based on 5% of $1.452 billion)
• Profile: Licensed worldwide for 10 years starting October 2021. Established scents include Ferragamo for men, Signorina for women, Amo, and Uomo. Sales were flat in 2024 against a high base in 2023. A new blockbuster, Fiamma, is scheduled for 2025.

8. Roberto Cavalli

• 2024 Revenue: $31 million
• 2024 Revenue Share: ~2.1% (calculated)
• Profile: A new addition to the US-based portfolio in 2024. The license is effective for 6.5 years from July 2023. Products began shipping in February 2024. Launches included Sweet Ferocious and Just Cavalli Wild Heart. A new blockbuster, Serpentine, is planned for 2025.

Other Brands

• Abercrombie & Fitch: Includes First Instinct, Authentic, and Away. The company distributes the Fierce fragrance in selected markets.
• Anna Sui: Popular primarily in Asia. Includes Fantasia, Sui Dreams, Sky, and Sundae. Launched Wild Wonder in 2024.
• Boucheron: A high-end jewelry brand. Fragrances include Quatre, Singulier, and Serpent Bohème. The license expires at year-end 2025.
• Emanuel Ungaro: Includes the legacy scent Diva. Introduced Cosmic, Petals, and Metallic collections in 2024.
• Graff: Ultra-high-end brand. The Lesedi La Rona collection is sold in exclusive retail outlets.
• Hollister: Features Wave, Festival, and Canyon Escape. Launched Feelin’ Free in 2024.
• Karl Lagerfeld: Includes Les Parfums Matières and Karl Cities. Launched Rouge and Ikonik in 2024.
• Kate Spade: Includes Kate Spade New York, Sparkle, and Cherie.
• Lanvin: Owned brand name. Lines include Éclat d’Arpège and Modern Princess. Launched Modern Princess in Jeans in 2024.
• MCM: Includes MCM signature scent and MCM Onyx. Launched MCM Crush and MCM Diamonds in 2024.
• Moncler: Features revolutionary LED bottle design. Includes Les Sommets Moncler.
• Oscar de la Renta: Includes Bella Blanca and Alibi. Launched Oscar de La Renta New York in 2024.
• Rochas: Owned brand. Includes Eau de Rochas and Mademoiselle Rochas. Launched Eau de Rochas Orange Horizon in 2024.
• Van Cleef & Arpels: Includes First and Collection Extraordinaire. License renewed through 2033.

Future Additions

• Off-White: Acquired trademark in late 2024; commercial use to begin in 2026.
• Maison Goutal: Acquired worldwide intellectual property rights in March 2025; development to begin in 2026.
• Solférino: Proprietary niche brand launching in 2025.

Geographical Presence

Interparfums, Inc. products are distributed in over 120 countries. The company operates distribution subsidiaries in major markets including the United States, France, Italy, and Spain.

1. North America

• 2024 Revenue: $541.9 million
• Percentage of Total Sales: 37%
• Growth: +6% compared to 2023.
• Profile: This is the company’s largest market. The growth was driven by the US-based operations’ portfolio, particularly GUESS and Donna Karan/DKNY.

2. Western Europe

• 2024 Revenue: $364.3 million
• Percentage of Total Sales: 25%
• Growth: +21% compared to 2023.
• Profile: Significant growth was fueled by the addition of Lacoste and strong performance in established brands.

3. Asia/Pacific

• 2024 Revenue: $197.0 million
• Percentage of Total Sales: 14%
• Growth: +3% compared to 2023.
• Profile: A key region for brands like Anna Sui and Ferragamo.

4. Middle East and Africa

• 2024 Revenue: $122.8 million
• Percentage of Total Sales: 9%
• Growth: +5% compared to 2023.
• Profile: Continues to show steady growth.

5. Eastern Europe

• 2024 Revenue: $118.1 million
• Percentage of Total Sales: 8%
• Growth: +14% compared to 2023.
• Profile: A rapidly growing market for the company.

6. Central and South America

• 2024 Revenue: $108.2 million
• Percentage of Total Sales: 7%
• Growth: +17% compared to 2023.
• Profile: Showed robust double-digit growth in 2024.

Physical Footprint

• Global Headquarters: New York, NY.
• European Headquarters: Paris, France (10 rue de Solférino).
• Subsidiary Offices: Italy (Florence), Spain (sales/distribution), Switzerland (sales office), Dubai (sales office), Hong Kong (sales office), Singapore (sales office).
• Warehousing: The company is transitioning its self-operated warehouse in Dayton, NJ, to a third-party logistics model by June 2025.

Financial Performance Analysis

In 2024, Interparfums, Inc. achieved record sales and earnings. Net sales increased by 10% to $1.452 billion. The company maintained a strong balance sheet while increasing its annual cash dividend by 7%.

Profit and Loss Analysis

Consolidated Statements of Income (In thousands, except per share data)

Metric	2024	2023	2022
Net Sales	$1,452,325	$1,317,675	$1,086,653
Cost of Sales	$524,984	$478,597	$392,231
Gross Margin	**$927,341**	$839,078	$694,422
Selling, General & Admin Expenses	$648,540	$587,696	$492,370
Impairment Loss	$4,005	$0	$7,749
Income from Operations	**$274,796**	$251,382	$194,303
Interest Expense	$7,825	$11,253	$3,599
(Gain) Loss on Foreign Currency	$1,085	$1,582	$1,921
Interest and Investment Income	($2,218)	($10,729)	($5,486)
Other (Income) Expense	($287)	($317)	$50
Income Before Income Taxes	**$268,391**	$249,593	$194,219
Income Taxes	$64,958	$61,817	$43,182
Net Income	**$203,433**	$187,776	$151,037
Net Income Attributable to Noncontrolling Interest	$39,075	$35,122	$30,099
Net Income Attributable to Interparfums, Inc.	**$164,358**	$152,654	$120,938
Diluted Earnings Per Share	$5.12	$4.75	$3.78

• Gross Margin Analysis: The gross margin percentage was 63.9% in 2024, slightly up from 63.7% in 2023. European operations achieved a gross margin of 67.0%, while US operations stood at 57.9%.
• Operating Margin: The operating margin was 18.9% in 2024. Before the impairment loss, the margin expanded by 10 basis points to 19.2%.
• Expenses: SG&A expenses represented 44.7% of net sales. Promotion and advertising expenditures aggregated $280.5 million, representing 19.3% of net sales.

Balance Sheet Analysis

Consolidated Balance Sheets (In thousands)

Metric	December 31, 2024	December 31, 2023
ASSETS
Cash and Cash Equivalents	$125,433	$88,462
Short-term Investments	$109,311	$94,304
Accounts Receivable, net	$274,705	$247,240
Inventories	$371,920	$371,859
Total Current Assets	**$914,832**	$839,026
Property, Equipment, Leasehold Improvements, net	$153,773	$169,222
Trademarks, Licenses, Intangible Assets, net	$282,484	$296,356
Total Assets	**$1,411,261**	$1,369,329
LIABILITIES AND EQUITY
Loans Payable – Banks	$8,311	$4,420
Current Portion of Long-term Debt	$41,607	$29,587
Accounts Payable – Trade	$91,049	$97,409
Accrued Expenses	$172,758	$178,880
Total Current Liabilities	**$332,427**	$324,745
Long-term Debt, less current portion	$115,734	$127,897
Total Equity	**$942,645**	$892,170

• Liquidity: The company holds $234.7 million in cash, cash equivalents, and short-term investments. Working capital aggregated $582 million as of December 31, 2024.
• Debt: Long-term debt including current maturities aggregated $157.3 million.
• Assets: Approximately 76% of total assets are held by European-based operations.

Cash Flow Analysis

Consolidated Statements of Cash Flows (In thousands)

Metric	2024	2023	2022
Net Cash Provided by Operating Activities	$187,642	$105,774	$73,031
Net Cash (Used in) Provided by Investing Activities	($44,832)	$7,262	($90,644)
Net Cash Used in Financing Activities	($100,769)	($133,214)	($45,568)

• Operating Cash Flow: Increased significantly to $187.6 million in 2024, driven by record net income and improved working capital management.
• Investing Activities: Included purchases of short-term investments and payments for intangible assets acquired (including the Off-White trademark purchase).
• Financing Activities: Reflected dividend payments of $96.0 million to shareholders and $24.7 million to noncontrolling interests, as well as debt repayments and proceeds.

Board of Directors and Leadership Team

Executive Officers

• Jean Madar: Chairman of the Board & Chief Executive Officer. Co-founder of the company.
• Philippe Benacin: Vice Chairman of the Board & President. Also serves as Chief Executive Officer of Interparfums SA. Co-founder.
• Michel Atwood: Chief Financial Officer (United States).
• Philippe Santi: Executive Vice President & Chief Financial Officer (Interparfums SA).

Board of Directors

• Jean Madar: Chairman.
• Philippe Benacin: Vice Chairman.
• Francois Heilbronn: Managing Partner, M.M. Friedrich, Heilbronn & Fiszer.
• Robert Bensoussan-Torres: Co-founder of Sirius Equity, a retail and branded luxury goods investment company.
• Gérard Kappauf: Chief Executive Officer & Creative and Editorial Director of the K Groupe.
• Véronique Gabai-Pinsky: President of Startup Specialty Fragrance Company and Former President, Vera Wang Group.
• Gilbert Harrison: Chairman, Harrison Group, Inc.; Founder and Chairman Emeritus, Financo LLC.

Key Operational Management

• Franck Moisio: Operations (US).
• Axel Marot: Operations (France).
• Hervé Bouillonnec: Export Sales (US) and Domestic Sales (US).
• Daphné Benacin: Export Sales (France).
• Jérôme Thermoz: Domestic Sales (France).

Subsidiaries, Associates, Joint Ventures

The company operates through a network of wholly-owned and majority-owned subsidiaries.

Major Subsidiaries:

1. Interparfums SA: 72% owned subsidiary based in Paris, France. It is publicly traded on the Euronext exchange. This entity manages the European-based operations and holds major licenses like Montblanc and Jimmy Choo.
   • Interparfums Luxury Brands, Inc.: Wholly owned by Interparfums SA. Handles distribution of prestige brands in the United States.
   • Interparfums (Suisse) Sarl: Holds and manages certain brand names.
   • Interparfums Singapore Pte., Ltd.: Sales and marketing office.
   • Parfums Rochas Spain, SL: Specializes in the distribution of Rochas fragrances.
2. Interparfums, USA LLC: Wholly owned US subsidiary.
3. Interparfums Italia Srl: Wholly owned Italian subsidiary responsible for manufacturing, marketing, and distributing prestige fragrances in Italy. Holds the Roberto Cavalli license.
4. Interparfums Holdings, S.A.: Consolidated wholly owned subsidiary.
5. Interparfums, USA Swiss Ltd: Sales Office in Switzerland.
6. Interparfums Middle East DMCC: Sales Office in United Arab Emirates.
7. Interparfums USA Hong Kong Limited: Sales Office in Hong Kong.

Associates:

• Divabox SAS: Interparfums SA holds a 25% interest in this toiletries, cosmetics, and perfumes distributor in France.

Physical Properties

The company utilizes a combination of owned and leased properties to support its global operations.

• Paris Headquarters (Owned): Located at 10 rue de Solférino, 75007 Paris. This is an office complex combining three buildings connected by two inner courtyards, totaling approximately 40,000 square feet. It was acquired in April 2021 for approximately $124.7 million (€120 million). In December 2024, the company agreed to purchase additional property attached to this headquarters for $12.4 million.
• New York Headquarters (Leased): Located at 551 Fifth Avenue, New York, New York 10176.
• Warehouses:
  • Dayton, NJ: A self-operated warehouse that is transitioning to a third-party logistics provider model by June 2025.
  • European Operations: Logistics are largely outsourced to third-party providers for storage, order preparation, and shipment.
• Other Leased Offices: Offices in Florence (Italy), Spain, Singapore, and sales offices in Switzerland, Dubai, and Hong Kong.

Segment-wise Performance

2024 vs. 2023 Performance:

Segment	2024 Net Sales (Millions)	Growth (YoY)	Operating Income (Millions)
European Based Operations	$953.0	+10%	$185.6
United States Based Operations	$511.3	+12%	$89.2

• European Operations: Growth was driven by the 7% gain in Jimmy Choo sales, the $85 million contribution from Lacoste, and growth in mid-sized brands like Karl Lagerfeld and Rochas. Montblanc and Coach held steady. SG&A expenses represented 46.3% of net sales.
• US Operations: Growth was primarily driven by GUESS (+13%) and Donna Karan/DKNY (+9%). Roberto Cavalli contributed $31 million. SG&A expenses represented 40.5% of net sales. The segment saw increased promotional and advertising spending to support growth.

Founders

• Jean Madar: Co-founder, currently serving as Chairman of the Board and Chief Executive Officer. He oversees the United States-based operations.
• Philippe Benacin: Co-founder, currently serving as Vice Chairman of the Board and President of Interparfums, Inc., and Chief Executive Officer of Interparfums SA. He oversees the European-based operations.

Both founders have led the company for over 40 years, building it from a small enterprise into a global leader in the fragrance industry.

Shareholding Pattern

• Public Shareholders: Interparfums SA is 72% owned by Interparfums, Inc., with the remaining 28% of shares traded publicly on the Euronext exchange.
• Interparfums, Inc.: Common stock is listed on The Nasdaq Global Select Market under the symbol “IPAR”. As of March 10, 2025, there were approximately 57,700 beneficial owners of the common stock.
• Dividends: The company has a history of paying dividends, with a $3.00 per share dividend declared in 2024, representing a 7% increase.

Parent

Interparfums, Inc. is the ultimate parent company. It holds a controlling 72% stake in its major subsidiary, Interparfums SA. The financials are consolidated, reporting the non-controlling interest (the 28% public float of Interparfums SA) separately in the income statement and balance sheet.

Investments and Capital Expenditure Plans

• Capex Allocation: The company typically spends approximately $5 million annually on tools and molds for new product development. In 2024, capital expenditures included amounts for office fixtures and equipment.
• Acquisitions:
  • Off-White: Paid approximately $16 million in December 2024 for the trademark, with an additional $2 million payable over two years.
  • Property: Committed to purchasing additional property in Paris for $12.4 million by May 2025.
• Investments: As of December 31, 2024, the company held $109.3 million in short-term investments, including certificates of deposit and marketable equity securities.
• R&D: Product development is a core function, with extensive market study and testing conducted for each new fragrance family.

Future Strategy

The company’s growth strategy focuses on four pillars:

1. Focus on Prestige Beauty Brands: Continuing to develop and launch high-quality fragrances under internationally renowned brand names.
2. Grow Portfolio Brands: Creating fragrance family extensions (“flankers”) and new “blockbuster” pillars. Using Artificial Intelligence (AI) to accelerate product development.
3. Add New Brands: Pursuing new licenses or acquisitions. Recent examples include Lacoste, Roberto Cavalli, and the upcoming Maison Goutal and Off-White.
4. Expand into New Categories: Selectively broadening offerings to include fragrance-related personal care products.

2025 Initiatives:

• Launch of Solférino, the first proprietary niche fragrance brand.
• Introduction of GUESS Iconic for men.
• Blockbuster debuts for Ferragamo, Rochas, and Roberto Cavalli.
• Extensions for Jimmy Choo, Montblanc, and Coach.
• Expansion of the Lacoste fragrance line.
• Preparation for the development of Maison Goutal and Off-White (commercial use starting 2026).
• Implementation of mid-single digit price increases on select brands to offset costs.

Key Strengths

• Diversified Brand Portfolio: A mix of high-performing global brands (Jimmy Choo, Montblanc, Coach) and growing mid-sized brands creates resilience.
• Strong Financial Position: $234.7 million in cash, cash equivalents, and short-term investments with a strong working capital position of $582 million.
• Asset-Light Model: Acting as a general contractor allows flexibility and focus on marketing and distribution without the burden of manufacturing facilities.
• Global Distribution: Presence in over 120 countries with a mix of owned subsidiaries and third-party distributors.
• Operational Efficiency: High sales per employee (over $2 million) and effective supply chain management.

Key Challenges and Risks

• Dependence on Licenses: The business model relies heavily on license agreements with third parties (76% of sales from top licensed brands). The non-renewal of a major license is a risk.
• Market Volatility: Susceptibility to currency fluctuations, tariffs, and regulatory shifts.
• Supply Chain Dependencies: Reliance on third-party suppliers and fillers. The company is actively managing inventory levels and transitioning logistics models to mitigate risks.
• Internal Control Weakness: Management identified material weaknesses in internal control over financial reporting related to risk assessment, control environment documentation, and IT user access controls as of December 31, 2024. A remediation plan is being implemented.
• Impairment Charges: Recorded a $4.0 million impairment loss for the Rochas Fashion trademark in 2024.

Conclusion and Strategic Outlook

Interparfums, Inc. delivered a record-breaking performance in 2024, with net sales reaching $1.452 billion and earnings hitting an all-time high. The company successfully integrated new major brands like Lacoste and Roberto Cavalli while maintaining growth in its core portfolio. With a robust pipeline of launches for 2025, including the introduction of its proprietary brand Solférino and strategic acquisitions like Off-White and Maison Goutal, Interparfums is positioned for continued expansion in the luxury fragrance market. The company remains financially strong, with significant liquidity to fund future opportunities and a commitment to delivering value to shareholders through dividends and strategic growth.

Official Site: https://www.interparfumsinc.com/

FAQ Section:

1. What was Interparfums, Inc.’s revenue in 2024?Interparfums, Inc. reported record net sales of $1.452 billion for the year ended December 31, 2024, a 10% increase over the previous year.
2. Which brands does Interparfums, Inc. own or license?The company’s portfolio includes licensed brands such as Jimmy Choo, Montblanc, Coach, GUESS, Lacoste, Donna Karan/DKNY, and Ferragamo, as well as owned brands like Lanvin and Rochas.
3. Does Interparfums manufacture its own products?No, Interparfums operates as a general contractor. It does not own manufacturing facilities but sources components from suppliers and uses third-party fillers to produce finished goods.
4. What are the newest brands in the Interparfums portfolio?Recent additions include Lacoste (2024), Roberto Cavalli (2024), Off-White (commercial use starting 2026), and Maison Goutal (acquired 2025). The company is also launching a proprietary brand, Solférino, in 2025.
5. Where is Interparfums, Inc. headquartered?The global headquarters are located at 551 Fifth Avenue, New York, NY. The European operations are headquartered at 10 rue de Solférino, Paris, France.

Source: Content on FirmsWorld.com is based on publicly available corporate filings, regulatory disclosures, annual reports, SEC 10-K filings, investor relations materials, and, where applicable, direct communications with the company.