Additionally, it projects an operating margin for the entire year of 18% to 19%. The licensing for fragrances from brands like Jimmy Choo and Montblanc is held by Interparfums. North America and other regions like Europe and Asia are the driving forces behind this achievement.
Sales of perfumes from Montblanc and Jimmy Choo have reached 210 million euros, representing increases of 14% and 16%, respectively, among the brands. Sales of Coach perfumes increased to 180 million euros, a 17% increase.
The worldwide fragrance license level that is called the Lacoste fashion label which was previously held by Coty, an American group, is now captured by the Interparfums group in December 2022. The agreement is going to last for 15 years and this will start from the 1st January of 2024.
The CEO of Interparfums, Philippe Benacin said,
“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.”
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