Inter Parfums, Inc. Reports Record 2023 Second Quarter Net Sales

About this update from Interparfums, Inc.

[{"type":"text","content":"\nRaises 2023 Sales Guidance\n\n\n NEW YORK--(BUSINESS WIRE)--\nInter Parfums, Inc. (NASDAQ GS: IPAR) (“Inter Parfums” or the “Company”) today announced that for the three months ended June 30, 2023, net sales rose to $309 million, up 26% from $245 million, in the second quarter of 2022.\n\n\nAt comparable foreign currency exchange rates, consolidated 2023 second quarter net sales increased 25% compared to the second quarter of 2022.\n\n\nOf note, the average dollar/euro exchange rate for the current second quarter was 1.09 compared to 1.06 in the second quarter of 2022, while for the first half of 2023, the average dollar/euro exchange rate was 1.08 compared to 1.09 in the first half of 2022, leading to a positive 1.3% foreign exchange impact for the quarter and a negative 0.5% for the first half.\n\n\nNet Sales:\n\n\n\n\n \n\n\n\n\n\n \n\nThree Months Ended\nJune 30,\n\n\n\n\n\n\n \n\n\n\n\n\n\nSix Months Ended\nJune 30,\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n \n\n2023\n\n\n\n\n\n\n \n\n\n\n\n\n\n2022\n\n\n\n\n\n\n \n\n\n\n\n\n\n% Change\n\n\n\n\n\n\n \n\n\n\n\n\n\n2023\n\n\n\n\n\n\n \n\n\n\n\n\n\n2022\n\n\n\n\n\n\n \n\n\n\n\n\n\n% Change\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n \n\n($ in millions)\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n \n\n \n\n\n\n\n\n \n\n \n\n\n\n\n\n\n\n\nEuropean based product sales\n\n\n\n\n\n \n\n$198\n\n\n\n\n\n \n\n$166\n\n\n\n\n\n \n\n19%\n\n\n\n\n\n \n\n$428\n\n\n\n\n\n \n\n$348\n\n\n\n\n\n \n\n23%\n\n\n\n\n\n\n\n\nUnited States based product sales\n\n\n\n\n\n \n\n111\n\n\n\n\n\n \n\n79\n\n\n\n\n\n \n\n42%\n\n\n\n\n\n \n\n193\n\n\n\n\n\n \n\n147\n\n\n\n\n\n \n\n31%\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n \n\n$309\n\n\n\n\n\n \n\n$245\n\n\n\n\n\n \n\n26%\n\n\n\n\n\n \n\n$621\n\n\n\n\n\n \n\n$495\n\n\n\n\n\n \n\n25%\n\n\n\n\n\n\n\n“We are very pleased to have achieved another record second quarter sales,” said Jean Madar, Chairman & Chief Executive Officer of Inter Parfums.\n\n\nHe continued, “The 19% increase in net sales by our European based operations was driven by our three largest brands, Coach, Jimmy Choo, and Montblanc, which grew sales by 28%, 21% and 16%, respectively. Also contributing to the top line gains were our fragrance “jewels,” Van Cleef & Arpels and Boucheron, as well as fashion houses, Rochas and Kate Spade.\n\n\n“The strength in the overall market, coupled with this year’s launches and brand extensions, including ...

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