Interparfums expects 2022 sales to lift 16%
New York-based fragrance group Inter Parfums, Inc. (Interparfums) announced on Monday that it expects 2022 net sales to be up 16 percent, while diluted earnings will increase 20 percent.
The company said it expects 2022 net sales in the range of $925 and $950 million, resulting in net income per diluted share of between $2.80 and $2.85, compared to 2021 guidance of $810 million in net sales and $2.35 in net income per diluted share.
Jean Madar, chairman and CEO, explained that the increase in net sales is in part due to the addition of new brands, including Ferragamo for the full year and Donna Karan and DKNY as of July 2022. The company will also introduce its first-ever products for Moncler, Moncler Pour Homme and Moncler Pour Femme, as well as new men’s fragrance pillars at Coach, Guess and more.
Other factors included the resumption of international travel, while the company is expected to benefit from a reduction in supply chain disruptions and the modest increase in prices effective in 2022.
“We expect to continue to benefit from the operating leverage that comes with increased sales and remain committed to once again investing approximately 21 percent of net sales on advertising and promotion to support our brands and gain market share,” Madar said.
“Our search for compatible brands to enrich our fragrance portfolio remains a priority, and our newly established base of operations in Italy, plus our headquarters and management in Paris and New York, give us sufficient bandwidth to add and grow new fragrance franchises.”
Most recently, Interparfums reported $262.7 million in revenue for the third quarter ended September 30, 2021, a record figure according to the company.
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