Company: IPAR
Filing Date: 2025-03-11
Form Type: 10-K
Source: 0001753926-25-000424
Chunk: 152

Company: INTERPARFUMS INC
Filing Date: 2025-03-11
Form: 10-K
Item: Item 6
Chunk 152
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2% and 68.2% in 2024, 2023 and 2022, respectively. European based operations were negatively impacted by brand and channel mix. These negative impacts were partially offset by the positive impact of certain one-time expenses related to inventory in 2023. For United States based operations, gross profit margin was 57.9%, 57.0% and 54.7% in 2024, 2023 and 2022, respectively. The year-over-year increase was driven by favorable brand and channel mix.

38    

Costs relating to purchase with purchase and gift with purchase promotions are reflected in cost of sales, and aggregated $61.5 million, $52.3 million and $43.1 million in 2024, 2023 and 2022, respectively, and represented 4.2%, 4.0% and 4.0% of net sales, respectively.

Generally, we do not bill customers for shipping and handling costs and such costs, which are included in selling, general and administrative expenses in the consolidated statements of income. As such, our Company’s gross margins may not be comparable to other companies, which may include these expenses as a component of cost of sales.

Selling, General and Administrative Expenses

Years ended December 31, 

2024  

2023 

2022  

(in millions)

European based operations

Selling, general and administrative expenses
 
$
441.6

$
406.6

$
358.3

Selling, general and administrative expenses as a percentage of net sales

46.3
%

47.1
%

48.2
% 

United States based operations

Selling, general and administrative expenses
 
$
206.9

$
181.1

$
134.0

Selling, general and administrative expenses as a percentage of net sales

40.5
%

39.7
%

39.1
%    

The Company’s selling, general and administrative expenses as a percentage of nets sales were 44.7%, 44.6% and 45.3% in 2024, 2023 and 2022, respectively. The percentage of net sales remained flat from the prior year as increased amortization cost from the addition of the Lacoste license, which represented $6 million for the year, were offset due to promotional and advertising activities by our European based operations growing slower than sales growth in 2024. 

For European based operations