Interparfums (ITP) Q1 2026 TU earnings summary

Executive summary

• Q1 2026 sales reached €215.5m at current exchange rates, down 8.5% year-over-year, mainly due to adverse currency effects and regional slowdowns; at constant rates, sales were €229.5m, down 2.6%.

• The US market remained dynamic with over 7% growth and double-digit local sales growth, while global fragrance market growth slowed.

• Geopolitical tensions, economic uncertainty, and unfavorable euro/dollar exchange rates negatively impacted performance.

• Despite disruptions, performance aligned with budget forecasts.

• Strong growth in North and South America offset declines in other regions.

Financial highlights

• Sales at constant exchange rates were €229.5m, a 2.6% decrease year-over-year; at current rates, sales declined 8.5% to €215.5m.

• Euro/dollar exchange rate averaged 1.17 in Q1 2026 vs. 1.05 in Q1 2025.

• Coach brand sales grew 17% to €61.5m, while Jimmy Choo fell 14% to €54.0m, and Lacoste dropped 20% to €20.0m.

• Montblanc sales increased 2% to €46.9m; Lanvin sales dropped 37% to €7.2m.

• Rochas and Lanvin saw declines due to high prior-year base and lack of new launches.

Outlook and guidance

• A robust launch plan is in preparation for 2027 and 2028, including new extensions and franchises for current and recently added brands.

• New men's fragrance launch planned by end of 2026; new women's fragrance in late 2027.

• Management expresses optimism for the future, citing a strong brand portfolio and ambitious roadmap.