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The Dealmakers: The transactions of these business leaders transformed fashion and beauty.
When Jean Madar, CEO of fragrance conglomerate InterParfums, goes to the office, he does not wear fragrance, he said. The reason is so he can test the latest products in the works.
InterParfums holds the fragrance licenses for numerous household brands including Donna Karan/DKNY, Guess and Ferragamo. This year, InterParfums has continued to grow both its portfolio and its sales by acquiring the licenses for Lacoste fragrances in March and Roberto Cavalli in July. It also added 100 employees to its corporate offices in New York and Italy. InterParfums surpassed $1 billion in annual sales in 2022.
“Our goal is to get Lacoste to where it belongs, which is a global brand that is inspiring for different ages of people,” said Madar. “Roberto Cavalli joined our portfolio because they feel they will be more important in our portfolio and that we can take better care of brands [like them] that need special attention.” Roberto Cavalli’s fragrance license was formerly owned by Coty Inc.
Inter Parfums’ most recent, third-quarter earnings report in October showed that its net sales rose to $368 million, up 31% year-over-year. Donna Karan/DKNY, Guess and Ferragamo notably saw annual sales growth of 230%, 59% and 55%, respectively. Madar said the attention provided to each brand ensures its success. Guess fragrances are “centered around novelty and innovation,” he said. For example, in June, InterParfums launched Guess Originals, the first collection of gender-neutral fragrances for the brand.
Madar also owed the company’s success to withholding focus on the Chinese market, where the economy has been on unsteady ground. He said he does not see any signs of a fragrance sales slowdown in Europe or the U.S. As he looks ahead to 2024, his plan is to sustain the growth the company’s seen thus far while also introducing new Roberto Cavalli fragrances.
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