THE WHAT? Inter Parfums, Inc. has announced its financial projections for 2024, expecting net sales to reach $1.45 billion and earnings per diluted share of $5.15. This forecast indicates a 12% increase in net sales and an 8% rise in earnings per diluted share compared to its 2023 guidance.
THE WHAT? The company’s growth strategy involves introducing new fragrances and expanding existing lines. In Europe, there are plans for new scents and line extensions for brands like Montblanc and Jimmy Choo. In the U.S., GUESS is set to launch a new collection, and Donna Karan/DKNY is expected to see sales growth. Abercrombie & Fitch Fierce will expand its distribution in Europe and later into the Asia-Pacific and Latin American markets. New fragrances from Cavalli and Lacoste are also expected to contribute to the company’s growth.
THE DETAILS Inter Parfums’ growth forecast is based on the expansion of its product range and its entry into new markets. The company anticipates that sales growth will exceed earnings growth, mainly due to investments in launching new brands like Cavalli and Lacoste. Despite this, the company remains confident in achieving record sales and earnings in the upcoming year.