Interparfums has announced its plans to raise prices in the US by 6% to 7% starting 1 August.
The announcement comes as a response to the new 10% tariffs imposed on imported goods from US President Trump.
CEO Phillipe Benacin informed shareholders of the change in pricing at the annual meeting held in Paris, France.
“We have not run the full calculations yet since these measures were only finalized 48-to-72 hours ago, but I believe we will end up with an additional €5 to €6m in expenses this year,” he told investors.
The owner of perfume lines from Coach, Montblanc, Lacoste and Jimmy Choo says the US is the brand's largest market, making up 38% of its total revenue in 2024.
Benacin continued to share a confident outlook for the rest of the year despite the worries from the US tariffs.
“In the US, we have had a very strong first quarter. You will see for yourself in a few days," he said.
“Interparfums will publish its Q1 results on 24 April.”
Benacin also shared the news of the renewal of the licensing agreement with fashion brand Coach.
The new deal will see the subsidiary of New York-based Interparfums Inc continue to manufacture and distribute perfumes for fashion house Coach until June 2031.
It follows a boom in growth for the Coach after reporting sales of €190m in 2023, with the fashion house also preparing to launch two “significant” new fragrances in 2025.
Interparfums reported a 10% rise in net profit for 2024, reaching €129.9m.
The group also maintained an operating margin exceeding 20% for the year.
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