03.01.23
Inter Parfums Inc. has reported results for the fourth quarter and full year ended December 31, 2022.
The company reported net sales of $311 million for the fourth quarter ended December 31, 2022, an increase of 47% compared to net sales of $211 million for the fourth quarter ended December 31, 2021.
Net sales increased 24% to $1.1 billion for the year ended December 31, 2022, compared to $880 million for the year ended December 31, 2021.
“2022 was a milestone year, as we crossed $1 billion in net sales, with all regions contributing to our growth,” noted Jean Madar, Chairman & Chief Executive Officer of Inter Parfums Inc. “Our largest region, North America achieved sales growth of 22%, followed by Western Europe and Asia where sales rose 28% and 19%, respectively. There was also a strong performance from the Middle East and Latin America with sales up 44% and 24%, respectively. Even Eastern Europe achieved modest sales growth of 6%, despite the armed conflict in Ukraine and sanctions on Russia. With the exception of China, our travel retail business has rebounded to near pre-pandemic levels.”
With two months under its belt and sizable orders already booked, the company expects that 2023 will be even better than it initially expected. It now predicts that 2023 net sales will approximate $1.2 billion, 10% ahead of 2022 net sales.
The company reported net sales of $311 million for the fourth quarter ended December 31, 2022, an increase of 47% compared to net sales of $211 million for the fourth quarter ended December 31, 2021.
Net sales increased 24% to $1.1 billion for the year ended December 31, 2022, compared to $880 million for the year ended December 31, 2021.
“2022 was a milestone year, as we crossed $1 billion in net sales, with all regions contributing to our growth,” noted Jean Madar, Chairman & Chief Executive Officer of Inter Parfums Inc. “Our largest region, North America achieved sales growth of 22%, followed by Western Europe and Asia where sales rose 28% and 19%, respectively. There was also a strong performance from the Middle East and Latin America with sales up 44% and 24%, respectively. Even Eastern Europe achieved modest sales growth of 6%, despite the armed conflict in Ukraine and sanctions on Russia. With the exception of China, our travel retail business has rebounded to near pre-pandemic levels.”
2023 Guidance
“2023 should be even better with new products and brand extensions unveiling throughout the year,” said Madar.With two months under its belt and sizable orders already booked, the company expects that 2023 will be even better than it initially expected. It now predicts that 2023 net sales will approximate $1.2 billion, 10% ahead of 2022 net sales.