On Tuesday, Interparfums reported an 8% increase in its gross margin for the first half of the year, with tight control over invoicing prices limiting the impact of higher raw material prices.

In the first six months of the year, the French group recorded a gross margin of €274.4 million, or 64.9% of sales, which rose by 7% to €422.6 million over the period.

“Based on the good level of activity recorded over the summer, we are therefore entering the second half of the year with confidence and confirm our sales target for the full 2024 financial year of between €880 and €900 million,” said Philippe Benacin, chairman and CEO of the group.

Interparfums also stated its intention to reduce inventories and improve cash flow in the second half of 2024.