Inter Parfums, Inc. reports sales increased 26% for the three-months ended 30 June to $309m, as the New York-based firm takes advantage of positive trends and momentum in the fragrance market, while growing its market share with innovative programs, Chairman and CEO Jean Madar says in an 8 August earnings release. “Through the first half of the year, our robust growth has been geographically spread across our 120-country distribution footprint and included signs of renewed life in the travel retail business,” he said, adding the firm is taking a conservative approach to China, which should experience modest sales growth for the remainder of the year. During a first quarter earnings presentation in May, during which the company reported 24% growth, Madar noted a “premiumization” of products across the US, Europe and Asia, with consumers buying more expensive, larger and more concentrated formulas. (Also see "Inter Parfums Expects ‘Another Spectacular Year’ As Prestige Fragrance Boom Continues" - HBW Insight, 10 May, 2023.)
Net income for the quarter grew 27% to $35m. Looking ahead, Madar noted the company is “strategizing and building out”...
