Inter Parfums To Dominate Luxury Fragrance Market With New Licenses After Sales Crossed $1B, Says Analyst – Inter Parfums (NASDAQ:IPAR)

Inter Parfums To Dominate Luxury Fragrance Market With New Licenses After Sales Crossed B, Says Analyst – Inter Parfums (NASDAQ:IPAR)
Inter Parfums To Dominate Luxury Fragrance Market With New Licenses After Sales Crossed B, Says Analyst – Inter Parfums (NASDAQ:IPAR)

DA Davidson analyst Linda Bolton Weiser reiterated a Buy ranking on the shares of Inter Parfums Inc IPAR and raised the value goal from $158 to $176.
The analyst stated IPAR’s international status perfume market share was solely 3% in 2020.
With the latest additions of the Ferragamo, DKNY, and Lacoste licenses, the analyst estimates IPAR’s market share to be 4%-5%.
The analyst famous IPAR’s technique to develop current product strains organically, with base enterprise development at a price exceeding the status perfume market.
The firm has demonstrated the technique with a number of manufacturers, together with Montblanc and Jimmy Choo, which have grown persistently over a few years.
In the final 10 years, the analyst famous, IPAR’s gross sales development, excluding FX and gross sales contribution, was no less than 10% in yearly however two, in comparison with a low-single-digit development of the status perfume market.
With IPAR’s gross sales surpassing $1 billion in 2022, the analyst thinks the corporate has lastly garnered a fame within the trade to be a contender for larger licenses, as evidenced by its Lacoste win.
The analyst thinks that IPAR’s new Italian subsidiary places it in a robust place to associate with Italian luxurious manufacturers.
The analyst additionally believes the corporate has alternatives to selectively work with model homeowners to develop perfume strains from scratch.
The analyst is extra optimistic on IPAR as a result of element shortages might ease quickly, as they have already got for Coty Inc COTY, and Lacoste alone might add gross sales of $150 million or 12.5% in 2024, which isn’t mirrored in Street estimates.
Price Action: IPAR shares are buying and selling larger by 3.30% at $144.84 on the final examine Wednesday.
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https://www.benzinga.com/analyst-scores/analyst-colour/23/04/31772793/inter-parfums-to-dominate-luxurious-perfume-market-with-new-licenses-after-gross sales-cro

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