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Dec 31, 2021
Inter Parfums Q4 2021 Earnings Report
Inter Parfums reported record net sales and earnings from continuing operations.
Key Takeaways
Inter Parfums, Inc. reported its 2021 full year and fourth quarter results, achieving record net sales and earnings. The company's top brands, including GUESS, Montblanc, Jimmy Choo, and Coach, exceeded $100 million in sales. The company also launched new fragrances and welcomed Ferragamo and Ungaro brands.
Achieved record net sales and earnings from continuing operations in 2021.
Four largest brands and many mid-sized brands outperformed 2019 results.
Executed several major new product launches, including fragrances for Kate Spade, MCM, and Moncler.
Welcomed two new brands, Ferragamo and Ungaro, and will add Donna Karan and DKNY fragrances under license in July 2022.
Inter Parfums
Inter Parfums
Forward Guidance
Inter Parfums expects net sales to approximate $975 million, resulting in net income per diluted share of $3.00.
Positive Outlook
- New scents for Moncler are rolling out to about 3,000 doors.
- Adding a new flanker to the Montblanc Legend line.
- The Jimmy Choo Man line and I Want Choo will be joined by a sister scent.
- Entirely new men’s pillars are debuting this year for GUESS, Coach and Boucheron.
- Flankers and extensions dominate expansion plans for most other brands, including Ferragamo and Ungaro.
Challenges Ahead
- Guidance assumes the average dollar/euro exchange rate remains at current levels.
- Guidance assumes there is no significant resurgence of the COVID-19 pandemic.
- Guidance excludes any impact from the geopolitical situation in Eastern Europe.
- The magnitude of the business impact of the war between Russia and Ukraine, along with sanctions and price volatility is hard to predict.
- 2021 sales in Russia totaled $43.4 million and could be impacted by the war.