(News Bulletin 247) – The manufacturer of licensed perfumes reveals its ambitions for 2025 and takes advantage of this communication to refine its objectives for the current year.

As the year 2024 is about to end, Interparfums is releasing its roadmap for 2025, and the group’s ambitions for the coming year include a major novelty.

Interparfums indicated this Wednesday morning that it expects “solid growth” in its activity for the year 2025 and is therefore counting on a turnover of between 910 million euros and 930 million euros. The group is also targeting a current operating margin “higher” than 19%.

Launching your own brand

The year 2025 will be marked by the launch of its own brand Solférino, with a collection of “10 premium fragrances intended for the collectible perfume market, developed by star perfumers”. This collection, whose name refers to its premises located in the former headquarters of the Socialist Party, rue de Solférino in Paris, will be distributed in an extremely selective channel “of around a hundred doors initially”.

“With the Solférino collection, our own brand, we will have, after two years devoted to its development, a unique and rich universe, fully adapted to the high perfumery market. This is a first strategic step in the implementation place of a new axis of development in a market which for several years has shown very strong growth”, declared its Chairman and CEO Philippe Benacin.

This initiative is a small revolution for a group which has until now specialized in licensed perfumes for brands such as Jimmy Choo, Montblanc, Coach and, more recently, Lacoste.

At the same time, Interparfums plans to launch “numerous line extensions”, with a view to “supporting its short-term growth”, notably on the Montblanc Explorer, Jimmy Choo Man, Coach Woman, Coach Man, Lacoste L.12.12 and Lacoste franchises. Original. Concerning Moncler perfumes, the development of this license will now be mainly based on strengthening the “Les Sommets” collection in very selective distribution.

For Oddo BHF, the company’s 2025 forecasts appear, “as often, at this stage of the year, conservative”. Interparfums is, in fact, a past master in the art of consciously establishing prudent objectives before raising them several times and then beating them. Management thus anticipates growth of “only” 4% in the middle of the range compared to 2024, specifies the research office. This caution on growth can be explained, according to Oddo BHF, by sectoral signals which “remain contrasting”. The research office refers to sluggish consumption in China, but Interparfums has little exposure to this market since this country represents less than 5% of the group’s turnover.

“Although the company has asked its agents/distributors to now commit to minimum forecast volumes, the 2025 trajectory will remain dependent on sellout (sales to the final consumer editor’s note) and final demand, which has been strong over the past three years. recent years”, says the design office.

TP ICAP Midcap, for its part, is advancing “more proactive” estimates for 2025 with a turnover outlook of around 954 million euros, an increase of 7.2% and a current operating margin projection. at 19.2%, “helped by a better contribution from Lacoste to profitability although consolidated communication efforts must be intense in support of the launches planned throughout the group”.

A subtle recovery

The group took advantage of this 2025 roadmap to refine its forecasts for the year which is about to end.

Interparfums indicates that it is aiming for “further growth in sales in 2024, greater than 10%”, thanks to the “remarkable performance of Lacoste perfumes in a year of resumption of distribution and relaunch of the brand”. Remember that Interparfums obtained this license in December 2022 for a period of 15 years and which took effect on January 1 of this year. The crocodile brand was previously licensed with the American perfumer Coty

The company is targeting sales of between 880 million and 890 million euros in 2025. This means that Interparfums will achieve a turnover of between 200-210 million euros in the fourth quarter, as indicated by the company during its third quarter activity update last October.

As for the current operating margin, Interparfums is more confident about its evolution and it “should exceed 19%”, thanks to the solidity of the gross margin and the recurring control of operating costs. This is a subtle increase since the group anticipated “an operating margin of around 19%”, an objective that the group had detailed for the first time of the year in October. The company will detail its annual results on February 25, 2024, before the opening of the Paris Stock Exchange.

On the Paris Stock Exchange, the markets are taking note of the latest announcements from Interparfums. The stock rose 1% around 11 a.m.