Company: IPAR
Filing Date: 2025-03-11
Form Type: 10-K
Source: 0001753926-25-000424
Chunk: 37

Company: INTERPARFUMS INC
Filing Date: 2025-03-11
Form: 10-K
Item: Item 5
Chunk 37
---
 two new scents for the Donna Karan Cashmere Collection.  The upcoming year will also stand out for the creation of the proprietary brand Solférino, a collection of 10 niche fragrances developed by star perfumers and intended for the collector's fragrance market. While the pace of growth in the market is starting to normalize closer to historical levels following massive growth seen over the past few years, the power of our diverse brand portfolio, in combination with our agile operating model, should help us gain market share.

As in the past, we hope to benefit from our strong financial position to potentially acquire one or more brands, either on a proprietary basis or as a licensee. However, we have no certainty that any new license or acquisition agreements will be consummated.

37    

 Net Sales to Customers by Region

Years ended December 31, 

2024 

2023 

2022 

(in millions)

North America
 
$
541.9

$
511.7

$
421.0

Western Europe

364.3

301.2

259.2

Asia/Pacific

197.0

191.8

163.6

Middle East and Africa

122.8

117.1

98.8

Eastern Europe

118.1

103.2

74.2

Central and South America

108.2

92.7

69.9

$
1,452.3

$
1,317.7

$
1,086.7

Our largest market, North America, achieved sales growth of 6% in 2024 compared to 2023, followed by Western Europe and Asia where sales grew by 21% and 3% in 2024, respectively, compared to 2023. Middle East and Africa, Eastern Europe, and Central and South America also achieved top line growth of 5%, 14% and 17% in 2024, respectively, compared to 2023. Additionally, our travel retail business is continuing to strengthen. 

Gross Profit Margin

Years ended December 31, 

2024 

2023 

2022 

(in millions)

European based operations:

Net sales (a)
 
$
953.0

$
863.4

$
744.0

Cost of sales (a)

314.5

282.9

236.9

Gross margin (a)
 
$
638.5

$
580.5

$
507.1