Company: IPAR
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0001753926-25-000738
Chunk: 3

Company: INTERPARFUMS INC
Filing Date: 2025-05-05
Form: 10-Q
Item: Part I, Item 2
Chunk 3
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, 2024. At comparable foreign currency exchange rates, net sales increased 6% from the first quarter of 2024. The average dollar/euro exchange rate for the current first quarter was 1.05 compared to 1.09 in the first quarter of 2024. 

For European based operations, sales increased 7% compared to the corresponding period of the prior year, driven by Jimmy Choo, Coach, and Lacoste, which grew by 36%, 11%, and 30%, respectively, respectively, compared to the corresponding period of the prior year. These increases were driven by continued strong performance for the I Want Choo and Jimmy Choo Man franchises, the introduction of Coach Man Extreme, and strong demand for Lacoste as the brand entered its second year under our management.  Sales of Montblanc declined by 16%, which was driven by the substantial increase in sales in the first quarter of 2024 following the debut of Legend Blue. Sales are expected to increase through the balance of 2025 with the introduction of Montblanc Explorer Extreme later this year.  

Sales by our United States based operations grew from an organic perspective 3% of a high 2024 base when first quarter organic sales expanded by 11%. Overall, on a reported basis, sales declined by 1% in the first quarter of 2025 compared to the corresponding period of the prior year, as a result of the discontinuation of the Dunhill license which had a 4% negative impact.  Donna Karan/DKNY fragrance sales rose by 5% resulting from the continued strength of our Cashmere Mist franchise and MCM sales grew by 17% with the rollout of the MCM Collection. Following the start of its fragrance distribution in February 2024, Roberto Cavalli delivered a 28% increase in net sales. Sales of GUESS declined slightly during the quarter off a very high base in first quarter of 2024 when sales grew by 21%. 

The first quarter growth was ahead of expectations, and we are confident in our future as we look forward to executing our plans for the remainder of 2025. A new blockbuster for Ferragamo, Fiamma, debuted at the end of March 2025 and a new blockbuster, Roberto Cavalli Serpentine, will launch in the second quarter. We have a large number of brand extensions across many of our brands launching throughout the year,