Interparfums Inc. reported first-quarter sales of $345 million, up 2% at current rate but down 2% organically once you back out the war in the Middle East.
Jean Madar, chairman and CEO of the company, called it broadly in line with what they expected, though he acknowledged retailers are watching inventory and shoppers have gotten pickier. The company is an odd structure: two public entities, one in the US and one on Euronext in Europe, with the European numbers folded into US consolidated results but both operating globally.
When looking at the brands managed by the European entities, Coach fragrance had a strong quarter, up 30% with the launches of extensions Cherry and Platinum. Montblanc was up 14% driven by Legend Elixir while Jimmy Choo slipped 4%, held back by Europe and Asia even as the US kept performing. Lacoste fell 12%, mostly because last year’s first quarter was up 30 percent and poor performance Eastern Europe.
Though this information was not detailed in the consolidated results of Interparfums Inc., Interparfums SA, the European subsidiary listed on Euronext, reported -14% on Rochas -37% on Lanvin and -38% on other brands. It did very well in Africa (+20%) and Latin America (+23%) while France was up 5% and US steady. On the contrary Middle East was down 40% while Europe and APAC were down in the 20% range.
On the US operations side, sales rose 2 percent and were flat organically. GUESS grew 11%. Roberto Cavalli, now in year three with the company, climbed 32% while Donna Karan and DKNY were down slightly but Be Delicious Core bounced back 17 percent.
Excluding Middle East, the company is cautiously optimistic elsewhere and has Lacoste launches lined up for 2027 and 2028.