The Interparfums group announced on Thursday, January 22, a 2.1% increase in sales to EUR 899 million in 2025 (about USD 1,055 at current exchange rates) and forecasts an operating margin "between 19% and 19.5%", despite difficulties in the US market.

US tariffs

"In spite of additional cots linked to the introduction of tariffs in the United States, and a very unfavorable euro/dollar exchange rate, the flexibility of our business model should nevertheless enable us to achieve an operating margin that is still high in the 2025 fiscal year, of between 19% and 19.5%," said Executive Vice President Philippe Santi, in a press release.

However, sales in North America rose 5% to EUR 437 million, with market share gains driven by Coach and Jimmy Choo fragrances.

Sales down in Asia

With sales up 5%, South America is enjoying “a good year,” underpinned by expanded Lacoste fragrance distribution and further gains for Coach.

Sales rose 27% in China and 10% in Japan. However, revenue in Asia declined 8% to EUR 115 million due to temporary distribution disruptions in two major markets, South Korea and India, that had sporadic impacts on the region’s overall performance, Interparfums said.

After surging 25% in 2024, sales in Western Europe (excluding France) are expected to grow a further 5% in 2025, with particularly strong momentum in the UK and Spain. In France, sales rose 4% to EUR 57.9 million despite a market decline in both volume and value.

New launches in 2026

The group’s leading brand, Jimmy Choo fragrances, recorded 2% growth to EUR 227.9 million, driven by the women’s franchise Jimmy Choo I Want Choo.

Coach fragrances, whose licensing agreement has been extended for five years until 2031, have now reached EUR 200 million in sales, representing a nearly 10% increase. Montblanc fragrances declined by 5% to EUR 193.2 million, while Lacoste fragrances, in their second year of operation, climbed 21% to EUR 95 million.

Interparfums announced that 2026 will be dedicated to the development of “initial projects” for brands signed or acquired last year — Annick Goutal, Off-White, and Longchamp — and to the preparation of “new franchises” for “historical brands," with launches scheduled in 2027 and 2028.

"In view of the many economic, geopolitical, and monetary uncertainties, the lack of current leads us to be highly cautious about 2026," CEO Philippe Benacin emphasized in the press release.

In November, Interparfums revised its forecasts for the year downwards and refused to comment on the 2026 outlook given the uncertainties in the global economy.