Company: IPAR
Filing Date: 2025-03-11
Form Type: 10-K
Source: 0001753926-25-000424
Chunk: 151

Company: INTERPARFUMS INC
Filing Date: 2025-03-11
Form: 10-K
Item: Item 6
Chunk 151
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.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

Gross margin, as a percentage of net sales

67.0
%

67.2
%

68.2
% 

United States based operations:

Net sales
 
$
511.3

$
455.8

$
342.7

Cost of sales

215.2

196.0

155.4

Gross margin
 
$
296.1

$
259.8

$
187.3

Gross margin, as a percentage of net sales

57.9
%

57.0
%

54.7
%    

(a) Amounts do not reflect eliminations of intercompany sales of European based operations products sold to United States based operations. 

The Company’s gross margin percentage was 63.9% in 2024 as compared to 63.7% in 2023 and 63.9% in 2022. The slight increase in gross margin percentage was driven by segment mix and the impact of certain one-time expenses related to inventory in 2023. 

For European based operations, gross profit margin as a percentage of net sales was 67.0%, 67.