Interparfums (ITP) Q3 2025 TU earnings summary

Executive summary

• Q3 2025 sales reached €262m at constant exchange rates (+1.6%) and €254m at current rates (-1.6%), with a high comparison base due to prior launches and the first year of Lacoste activity.

• Nine-month 2025 sales reached €710m at constant exchange rates, up 4.4% year-over-year, despite a high comparison base from record 2024 activity.

• The fragrance market slowed globally since late 2024, but US growth continued during summer 2025.

• Notable events included a new fragrance license with Maison Longchamp, improved ESG ratings, and the opening of a South Korea subsidiary.

• Flagship brands, especially Jimmy Choo, drove growth, while some brands and regions faced headwinds.

Financial highlights

• Nine-month 2025 sales totaled €710m at constant rates (+4.4%) and €700m at current rates (+3.0%).

• Q3 2025 sales: €261.7m at constant rates (+1.6%), €253.5m at current rates (-1.6%) vs. Q3 2024.

• Jimmy Choo (+6%), Coach (+14%), and Lacoste (+24%) drove growth, while Montblanc (-9%), Lanvin (-12%), and Rochas (-5%) declined.

• North America led regional growth with +16% at constant rates, driven by strong US market performance.

• Asia declined (-10%) due to distribution disruptions, despite strong growth in China (+49%) and Japan (+18%).

Outlook and guidance

• Projected full-year 2025 sales are around €900m, reaffirmed despite currency headwinds and geopolitical challenges.

• The outlook is clouded by international instability, cautious distributor/retailer behavior, and unfavorable euro/dollar rates.

• Major launches planned for 2026 and 2027, with new brands Annick Goutal, Off-White, and Longchamp joining the portfolio.

• 2026 outlook to be published November 19, 2025.