Inter Parfums is expecting sales to top $1.45bn in 2024.
The fragrance maker’s updated guidance represents a 12% increase on the $1.3bn it is predicting in 2023, which it hailed as a “record year” for perfume sales.
This is the result of its expanded fragrance portfolio and strong momentum in the perfume market, leading to a boost in confidence for the new financial year.
Inter Parfums’ recently secured licence deals with Roberto Cavalli and Lacoste, which are also expected to contribute towards the sales growth in 2024.
“With shipments of Cavalli and Lacoste fragrances beginning in January, their combined fragrance sales should add approximately 7% to our topline growth in 2024,” said Jean Madar, Chairman & CEO of Inter Parfums.
“For Lacoste, our go-forward strategies are well underway, and we plan to relaunch the brand’s original fragrances in 2024 and roll-out our first blockbuster in 2025.”
Inter Parfums will also implement a number of new initiatives that have been in development for its European operations in 2024.
This includes an extension of Montblanc’s Legend fragrance flanker in early 2024, followed by a new four-scent premium collection.
There will also be several new launches for Jimmy Choo, including the I Want Choo and Flash fragrance collections.
In the US, the fragrance distributor will release a new four-scent collection for Guess, in addition to an extension to the Uomo franchise with a new blockbuster debuting in 2024.
Inter Parfums has also praised Donna Karan and DKNY’s performances in 2023, and anticipates both brands to drive sales next year.
Michel Atwood, CFO of Inter Parfums noted that the business will have a clearer view on its updated guidance after the holiday period has ended, and will provide a further update “if warranted”.
He continued: “As we continue on the positive trajectory in achieving yet another record-level sales and earnings year, we are confident in our expertise to drive further growth and earnings power.”