Record Fourth-Quarter Sales and Earnings
Inter Parfums, Inc. achieved record fourth-quarter sales and earnings, with sales reaching $1.452 billion and adjusted earnings per share at $5.18, surpassing the guidance of $5.15.
Expansion of Brand Portfolio
The company initiated distribution and sales for new brands Lacoste and Roberto Cavalli and renewed its license agreement with Bank of America. Lacoste achieved over $84 million in sales, and Roberto Cavalli added 2% to the top line with $31 million in sales in less than 11 months.
Global Market Growth
Inter Parfums' major markets, North America, Western Europe, and Asia Pacific, showed gains of 6%, 21%, and 3%, respectively, in 2024 compared to 2023. Travel retail sales increased by 20%.
Innovation and Upcoming Launches
The company plans to launch new blockbusters for Ferragamo, Rochas, and Cavalli in 2025 and introduced its first proprietary brand, Solferino, a collection of ten niche fragrances.
Strong Financial Position
The company closed the year with $235 million in cash and working capital of $582 million, significantly improving its cash conversion cycle with operating cash flow of $188 million in 2024.