French fragrance group Interparfums announced on February 26 that its 2024 net profit rose by 10% to €129.9 million, fueled by the strong performance of Lacoste fragrances. The result was just above market expectations. A consensus provided by the company had forecast a net profit of €129.3 million.
Interparfums credited tight cost management for its 11% increase in operating profit, which hit €178 million. This resulted in an operating margin of 20.2%, aligning with projections released in January.
“In 2024, we once again delivered an outstanding performance, largely driven by Lacoste fragrances, in a year dedicated to revamping distribution and relaunching the brand,” said CEO Philippe Benacin in a statement.
The company, which has proposed a dividend of €1.15 per share (up 10% year-on-year), invested €187 million in marketing and communications last year to enhance brand visibility and drive sales.
Among its key partnerships, Interparfums has extended its licensing agreement with Van Cleef & Arpels for another nine years. Meanwhile, the group is now developing the first fragrance and beauty line under a newly signed Off-White license, set to debut between late 2026 and early 2027.
“In 2025, we aim to sustain our growth trajectory, with a revenue target of between €930 million and €935 million, reflecting the recent appreciation of the U.S. dollar,” Benacin added. This would represent an increase of 5.6% to 6.2%.
Interparfums’ annual general meeting is set for April 17, when the departures of Chantal Roos, Dominique Cyrot, and Frédéric Garcia-Pelayo from the board of directors will be formally announced. Garcia-Pelayo, who served as deputy CEO until the end of 2024, has been succeeded by Daphné Benacin, previously the group’s regional export director.
