0001753926-26-000464
SEC filingNotes show $295M cash/short-term investments, $185M debt, $13.9M buybacks, $3.20 dividend per share.
Inter Parfums, Inc., founded in 1982, operates in the prestige fragrance business, manufacturing, marketing, and distributing a wide array of fragrances and fragrance-related products. The Company manages its business in two segments: European based operations and United States based operations. European based operations accounted for approximately 68% of net sales in 2025, while US based operations accounted for approximately 32%. The Company does not own manufacturing facilities; instead, it acts as a general contractor, sourcing components from suppliers and using third-party fillers for production.
European Based Operations: This segment produces and distributes prestige fragrances primarily under license agreements with brand owners. The brand portfolio includes Boucheron, Coach, Jimmy Choo, Karl Lagerfeld, Kate Spade, Lacoste, Longchamp, Lanvin, Moncler, Montblanc, Off-White, Solférino, and Van Cleef & Arpels. Products are distributed in over 120 countries. The segment also owns the Rochas, Goutal, and Lanvin trademarks for Class 3, and the proprietary brand Solférino.
United States Based Operations: This segment produces and markets prestige fragrances under trademarks owned or licensed from brands including Abercrombie & Fitch, Anna Sui, Donna Karan/DKNY, Emanuel Ungaro, Ferragamo, Graff, GUESS, Hollister, MCM, Oscar de la Renta, and Roberto Cavalli. It represented approximately 32% of net sales in 2025.
The Company's largest brands by percentage of net sales in 2025 were Jimmy Choo (17%), Coach (15%), Montblanc (15%), GUESS (12%), Donna Karan/DKNY (7%), Lacoste (7%), and Ferragamo (4%). These seven brands together accounted for 77% of sales. The Company also launched its first proprietary brand in 2025, Solférino, a collection of 10 niche fragrances. In early 2026, the Company entered into license agreements for Nautica and David Beckham fragrances. Other notable products include the recently acquired Goutal brand and Off-White trademarks.
Products are distributed in over 120 countries through a selective distribution network. The Company uses independent luxury goods distributors, duty free operators, and its own distribution subsidiaries in key markets (US, France, Italy, South Korea, Spain). Approximately 50% of European based operations net sales are denominated in U.S. dollars, and the Company uses foreign currency forward contracts to manage exposure. The largest retail customer, Macy's, accounted for approximately 10% of net sales in 2025 and 12% in 2024. No single customer represented 10% or more in 2023.
The market for prestige fragrances is highly competitive, with major players possessing greater financial resources. Competitive factors include pricing, marketing, advertising, promotional activities, e-commerce expansion, advances in technology such as AI, and brand recognition. The Company differentiates through original strategy, regular and methodical development of quality fragrances, and a growing portfolio of internationally renowned brand names.
The Company's strategy includes: (1) focusing on prestige beauty brands and leveraging internationally renowned names; (2) growing portfolio brands through new product development, including fragrance family extensions and seasonal limited editions; (3) adding new brands through licenses or acquisitions; (4) expanding into new product categories beyond fragrances; and (5) building a global distribution footprint through vertical integration and third-party arrangements.
As of December 31, 2025, the Company had 662 full-time employees. European based operations employed 377 (142 in sales, 235 in other functions). US based operations employed 285 (123 in sales, 162 in other functions). Other than for Interparfums Italia Srl employees, the Company does not have collective bargaining agreements.
As of December 31, 2025, Inter Parfums held $158.1M in cash and cash equivalents and $137.1M in short-term investments, totaling $295.2M in highly liquid assets. Total debt stood at $185.4M, comprised of $54.8M current portion of long-term debt, $121.3M long-term debt, and $9.4M in bank loans. Shareholders' equity attributable to Inter Parfums was $880.7M, and inventory was $351.4M, consistent with the company's fragrance manufacturing operations.
No purchase commitments or contractual obligations were disclosed in the Notes section provided. The filing cut off before any such disclosures could be extracted.
In 2025, Inter Parfums repurchased $13.9M of its common stock (no new authorization mentioned). Dividends totaled $102.7M to common shareholders, or $3.20 per share, a 6.7% increase from $3.00 in 2024. The company issued $56.5M in long-term debt and repaid $50.3M, resulting in a net debt increase of $6.2M. Capital expenditures were $24.4M, or 1.6% of net sales.
Segment-level data was not included in the Notes section provided. The only geographic or brand mix information appears in Note 1, which lists brand percentages of net sales for the top brands (e.g., Jimmy Choo 17%, Coach 15%, Montblanc 15%), but these are not presented in a segment format.
The provided filing excerpt contains only the header for Item 1A Risk Factors without any actual risk disclosures. Therefore, no analysis can be performed.
The provided document excerpt from Inter Parfums, Inc.'s 10-K for the period ended December 31, 2025, includes only the table of contents and the audit report. The actual Consolidated Statements of Cash Flows are referenced on page F-10 but are not included in the text. As a result, no cash flow figures (operating, investing, financing, capex, free cash flow, share repurchases, dividends) can be extracted. Without the underlying data, analysis of cash flow quality, CFO vs net income trends, capex intensity, or capital returns coverage is not possible.