IPAR · Inter Parfums, Inc.

Interparfums, Inc. reported first quarter 2026 net sales of $345 million, a 2% increase from $339 million in the prior year, reflecting broad alignment with expectations amid challenging conditions. The growth incorporated a 4.6% favorable foreign exchange impact from an average dollar/euro rate of 1.17 versus 1.05 last year. Excluding a 1% headwind from the Middle East war, organic sales declined 2%, signaling measured growth versus recent years due to macroeconomic pressures, geopolitical uncertainty, and retailer inventory caution. Consumer fragrance interest remains resilient, with management cautiously optimistic on the portfolio's future. European operations drove $252 million in sales (up 2%, +5.5% FX), led by Coach's 30% surge from new extensions like Coach Cherry and Platinum, and Montblanc's 14% rise via Legend Elixir and Explorer Extreme. Offsets included Jimmy Choo's 4% drop in Europe/Asia and Lacoste's 12% decline from a high base and Eastern Europe weakness, though future launches are planned. US operations posted $96 million (up 2%, +2.5% FX), with organic sales flat; GUESS gained 11% on Iconic Sublime and Seductive Desire, Roberto Cavalli soared 32% with Just Cavalli Wild Heart and Verde Assoluto, while Donna Karan/DKNY dipped 3% but saw Be Delicious Core rebound 17%. Management reduced the 2026 Middle East forecast due to ongoing war but anticipates opportunities elsewhere, bolstered by enhanced offerings, new fragrances from recent additions like Goutal and Off-White, and selective brand pursuits into 2027. Full Q1 results and conference call are set for May 6, 2026.