(News Bulletin 247) – The specialist in licensed perfumes is counting on a further double-digit increase in its activity in 2024, compared to an expected turnover of around 800 million euros for the current year.

Interparfums sees higher. The specialist in licensed perfumes such as Jimmy Choo, Montblanc, Coach and Lacoste (and own brands for Lanvin and Rochas), indicated this Wednesday morning that it was planning “a further increase in its activity” for the year 2024.

Interparfums now says it expects a turnover of around 880 million to 900 million euros in 2024, “despite signs of slowdown in certain markets”. The year 2024 will in fact be “dedicated to the Lacoste brand”, explains Interparfums, with the “launch of a men’s line, the group’s first initiative since the signing of the license contract at the end of 2022”.

A “rich” launch plan

In December 2022, Interparfums announced a global licensing agreement with the Lacoste brand for a period of 15 years, which will take effect on January 1, 2024. The crocodile brand was until then under license with the American perfumer Coty.

At the same time, “like every year”, Interparfums will rely on “a launch plan rich in new initiatives across all brands in the portfolio” which “will support activity in 2024”.

The objective set by Interparfums for 2024 therefore reflects growth of 10% or 12.5% ​​compared to the group’s expectations for the current year. The company expects to record sales of around 800 million euros this year, an increase of 12% or 13% compared to a “record” turnover of 706.6 million euros. in 2022.

The operating margin is expected to be 18 to 19% over the entire financial year. The company will detail its annual results on February 28, 2024, before the opening of the Paris Stock Exchange.

A welcome announcement

Interparfums does not, however, avoid the context of the perfumery market, which has returned to more normative growth since September. The group notes signs of slowdown in certain markets after “very rapid growth in recent years, with sales increasing from 500 to 800 million euros”.

However, the group’s dynamics remain well oriented and notably driven by the dynamism of the American market, growing by 12.5% ​​at the end of September and on which Interfparfums achieved growth of 23% over this same period.

A month earlier, Interparfums had announced revenues for its third quarter, up 10% in published data and 18% excluding currency effects to stand at 214.6 million euros. The summer turnover of the company led by Philippe Bénacin was then driven by the success of the Montblanc and Coach perfumes, two of the group’s three blockbusters.

Over nine months, Interparfums’ revenues amounted to 610.7 million euros, up 19% at constant exchange rates.

On the Paris Stock Exchange, the markets appreciate the roadmap proposed by Interparfums. The title of the specialist in licensed perfumes increased by 4.8% around 9:45 a.m.