Key Takeaways:

• 2025 first-half sales increased 5.8% at current exchange rates to €447.0 million, up from €422.6 million last year. 
• Product launch timing and tariff-generated supply chain disruptions put pressure on US operations, resulting in a 20% decrease.
• Sales target should return to the lower end of initial estimates for the year around €910 million.

Interparfums, the Paris-based fragrance maker reported Q2 2025 sales of €211.4 million in its second quarter, 3.3% higher than the €209.9 million recorded in the same period last year. Timing of product launches and tariff-generated supply chain disruptions put pressure on US operations, resulting in a 20% decrease from the prior year's period.

Philippe Benacin, Chairman and Chief Executive Officer of Interparfums SA, said in a statement, “Given the appreciation of the euro against the US dollar since the spring, our 2025 sales target should return to the lower end of our initial estimate, around €910 million.”

Results from the first half of the year showed sales increasing 5.8% at current exchange rates to €447.0 million, up from €422.6 million in the year-ago period. At constant exchange rates, the increase was 6.1% compared to the same period in 2024.

Jean Madar, Chairman and Chief Executive Officer of Interparfums, said, “While the current macroeconomic environment created headwinds in certain geographies, we view the impacts on our business as transitory as we mitigate the near-term pressures and fuel our longer-term strategy with our retail and distribution partners. We are adapting to the evolving landscape and remain confident in the strength of the market, particularly in the United States, and the resilience of our brand portfolio.“

US-Based Operations

• United States–based operations: 2025 second-quarter sales decreased 20% from the prior year's period, attributed to an 8% decrease from the discontinuation of the Dunhill license. On an organic basis, net sales declined 14%. With the phaseout of Dunhill fragrances completed last August, there should be minimal impact on quarter-over-quarter comparisons in the future.
• GUESS and Donna Karan/DKNY fragrance sales declined by 8% and 13%, respectively, during the quarter.
• Roberto Cavalli fragrance sales grew 23% and 25% for the second quarter and year-to-date, respectively.
• MCM sales rose by 3% for the quarter with continued success from the launch of the MCM Collection.

Europe-Based Operations

• Sales by European-based operations increased 6% compared to the same period last year, primarily attributable to strong performance in established lines across Lacoste and Coach, supported by the successful launches of Coach for Men Eau de Parfum and Coach Women Gold. These two brands’ sales increased by 59% and 42%, respectively, and Lacoste remains well-positioned to become their next $100 million brand.
• Jimmy Choo fragrance sales declined 20%, but year-to-date, brand sales are ahead 5% due in significant part to the introduction of Jimmy Choo Man Extreme earlier this year, and the popularity of the I Want Choo fragrance family.
• Montblanc sales were broadly flat in the second quarter, but the recent launch of Explorer Extreme is expected to help fuel brand growth in the second half of the year.

Madar concluded, “We remain agile in our operations and view this quarter as a period of momentary softness within an otherwise positive sales trajectory. With thoughtful pricing actions set to take effect over the coming months, alongside an alluring lineup of fragrance introductions, and foreign exchange tailwinds, we are well positioned to capitalize on the strength of the prestige fragrance market and deliver stronger results in the second half of 2025.”