Interparfums, Inc. (IPAR)

In the past six months (April 2025 - October 2025), Interparfums, Inc. stock has experienced some volatility. As of late October 2025, shares had slipped approximately 5% in the preceding month, and the stock price had fallen over 25% year-to-date, resulting in a 1-year total shareholder return of -18.7%. The company reported disappointing second-quarter 2025 results, with a 2.4% year-over-year decline in revenue and an 11.6% drop in net profit, primarily driven by a 20% decrease in the U.S. segment's sales, although this was partially offset by a 6% increase in the European segment. However, in the third quarter of 2025, the company reported a 1% year-over-year increase in consolidated net sales, reaching $430 million, driven by strong performance in European operations. Despite recent stock weakness, several analysts have reiterated "Buy" or "Strong Buy" ratings for IPAR, with consensus price targets significantly above the current trading price.

Demand for Interparfums, Inc. products exhibits seasonality, with a notable increase in popularity during the holiday season, particularly in the Americas. The company anticipates that certain brands, such as GUESS and Donna Karan/DKNY, which experienced declines in Q3 2025, will rebound during the holiday period.

Interparfums, Inc. develops, manufactures, and distributes branded fragrances and cosmetic products, primarily through licensing agreements with globally recognized fashion and lifestyle brands. Its product offerings include fragrances under licenses such as Boucheron, Coach, Jimmy Choo, Karl Lagerfeld, Kate Spade, Lacoste, Lanvin, Moncler, Montblanc, Rochas, Van Cleef & Arpels, Abercrombie & Fitch, Anna Sui, Donna Karan, DKNY, Ferragamo, Graff, GUESS, Hollister, MCM, Oscar de la Renta, Roberto Cavalli, and Ungaro, as well as its own trademarks, including French Connection, Intimate, Solférino, and Tristar. The company is also set to begin commercial use of Off-White fragrance brands in December 2025. Interparfums sells its products through various channels, including department stores, perfumeries, specialty stores, duty-free shops, domestic and international wholesalers and distributors, and e-commerce platforms.

Interparfums, Inc. has a significant international presence, with operations primarily divided into European-based and United States-based segments. In fiscal year 2023, European-based operations accounted for 65% of net sales, while U.S.-based operations contributed 35%. In the third quarter of 2025, European-based sales saw a 5% increase, while U.S.-based sales experienced a 5% decline, excluding the discontinued Dunhill license.

Interparfums, Inc. maintains a strong brand reputation, evidenced by its continuous ability to secure and expand licensing agreements with prestigious global brands. In the past year, the company has continued to benefit from existing successful licenses and has announced new agreements, such as the acquisition of all Off-White brand names and registered trademarks for fragrance and cosmetic products, with commercial use commencing in December 2025. The company also recently secured an exclusive licensing agreement with Longchamp through December 31, 2036, with the first launch expected in 2027. Interparfums emphasizes innovation, trends, and adherence to ESG factors.

Interparfums, Inc. has a diverse ownership base, including its founders and a substantial number of institutional investors. Major individual owners include Jean Madar (Chairman & CEO) and Philippe Bénacin (Vice Chairman & President of Interparfums SA, the European subsidiary), who hold significant stakes. Institutional investors collectively own 55.57% of the company's stock. Notable institutional shareholders that have recently modified their holdings or hold significant positions include Brown Capital Management, The Vanguard Group, Invesco Ltd., Aberdeen Group Plc, BlackRock, Inc., Virginia Retirement Systems, PineStone Asset Management Inc., Westwood Holdings Group Inc., T. Rowe Price Investment Management, Inc., William Blair Investment Management, LLC, London Co of Virginia, Squarepoint Ops LLC, Man Group PLC, Illinois Municipal Retirement Fund, Mirae Asset Global Investments Co. Ltd., Teacher Retirement System of Texas, CWM LLC, PNC Financial Services Group Inc., Creative Planning, California State Teachers Retirement System, and Osaic Holdings Inc.