Fragrance creator behind Montblanc and Jimmy Choo scents has raised it guidance as sales boom ahead of Christmas trading period
Developer of prestige fragrance and cosmetics, including Jimmy Choo and Montblanc, Interparfums has reported a record 64% boost in sales for 2021 Q3.
Historically, the company’s strongest three-month period, sales were up to US$262m, which is also a 37% improvement on pre-pandemic sales for the same period in 2019.
For the nine months to 30 September, Interparfums’ sales have totalled $668m, a far cry from its 2020 results, during the peak of the pandemic.
Net sales for the same period in 2020 stood at $355m, a downturn of almost $200m compared with 2019’s results.
In Q2 for 2020 Inter Parfums’ sales nosedived 70% as Covid-19 significantly impacted the business.
During the three month period, the fragrance creator brought in $49.6m, a significant downturn from its $166m the previous year.
The company was also heavily impacted by reduction of travel, cutting off 15-20% of its business in travel retail.
However, sales are up for the company’s core brands Montblanc, Jimmy Choo, Coach, Guess and Lanvin, with new releases from Jimmy Choo and Guess reviving appetite for fragrance among customers.
New brands Kate Spade and MCM are also said to have improved top line growth for the business.
“As compared to 2019’s third quarter, our largest brands outperformed our best expectations,” said Inter Parfums’ Chairman and CEO Jean Madar.
“We achieved record sales in the third quarter despite the near absence of travel retail business and major supply chain disruptions affecting the procurement of components, the ability to transport goods, and related cost increases.”
Looking ahead, the licensor of DKNY will be raising its 2021 sale guidance to a record $810m.