Interparfums (ITP) Q4 2025 TU earnings summary

Executive summary

• 2025 sales reached €918m at constant exchange rates, up 4.3% year-over-year, and €899m at current rates, up 2.1%, reflecting strong brand performance despite currency headwinds and complex market conditions.

• Double-digit growth achieved in China, Mexico, and Spain, while Korea and India faced distribution disruptions.

• The company extended the Coach license to 2031, acquired Annick Goutal IP, and signed a new fragrance license with Longchamp through 2036.

Financial highlights

• Organic growth exceeded 4% compared to 2024.

• North America sales grew 5% year-over-year, with local US sales up over 9%.

• Coach fragrances sales rose nearly 10% to €200m; Lacoste up 21% to €95m.

• Operating margin for 2025 expected between 19% and 19.5% despite tariffs and FX headwinds.

Outlook and guidance

• About fifteen new fragrance line extensions planned for 2026; launches for new and historical brands scheduled for 2027 and 2028.

• Management remains cautious for 2026 due to economic, geopolitical, and monetary uncertainties but expects growth recovery in 2027.