Form 10-Q - Quarterly report [Sections 13 or 15(d)]

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q

(MARK ONE)

☒	Quarterly Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the quarterly period ended June 30, 2024.

☐	Transition Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the transition period from ___________to ________.

Commission File No. 0-16469

INTER PARFUMS, INC.

(Exact name of registrant as specified in its charter)

Delaware		13-3275609
(State or other jurisdiction of		(I.R.S. Employer
incorporation or organization)		Identification No.)

551 Fifth Avenue, New York, New York 10176

(Address of Principal Executive Offices) (Zip Code)

(212) 983-2640

(Registrants telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, $.001 par value per share		IPAR		The Nasdaq Stock Market

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days: Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).

Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act).

Large accelerated filer ☒	Accelerated filer ☐
Non-accelerated filer ☐ (Do not check if a smaller reporting company)	Smaller reporting company ☐
	Emerging Growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.

At August 6, 2024, there were 32,024,280 shares of common stock, par value $.001 per share, outstanding.

INTER PARFUMS, INC. AND SUBSIDIARIES

INDEX

			Page Number
Part I.	Financial Information		1

	Item 1.	Financial Statements	1

		Consolidated Balance Sheets as of June 30, 2024 and December 31, 2023	2

		Consolidated Statements of Income for the Three and Six Months Ended June 30, 2024 and June 30, 2023	3

		Consolidated Statements of Comprehensive Income for the Three and Six Months Ended June 30, 2024 and June 30, 2023	4

		Consolidated Statements of Changes in Equity for the Six Months Ended June 30, 2024 and June 30, 2023	5

		Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2024 and June 30, 2023	6

		Notes to Consolidated Financial Statements	7

	Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	15

	Item 3.	Quantitative and Qualitative Disclosures About Market Risk	23

	Item 4.	Controls and Procedures	23

Part II.	Other Information		24

	Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds.	24

	Item 5.	Other Information	24

	Item 6.	Exhibits.	25

SIGNATURES			26

INTER PARFUMS, INC. AND SUBSIDIARIES

Part I. Financial Information

Item 1.

Financial Statements

In our opinion, the accompanying unaudited consolidated financial statements contain all adjustments (consisting only of normal recurring adjustments) necessary to present fairly our financial position, results of operations and cash flows for the interim periods presented. We have condensed such financial statements in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”). Therefore, such financial statements do not include all disclosures required by accounting principles generally accepted in the United States of America. In preparing these consolidated financial statements, the Company has evaluated events and transactions for potential recognition or disclosure through the date the consolidated financial statements were issued by filing with the SEC. These financial statements should be read in conjunction with our audited financial statements for the year ended December 31, 2023, included in our annual report filed on Form 10-K.

The results of operations for the three months ended June 30, 2024, are not necessarily indicative of the results to be expected for the entire fiscal year.

Page 1

INTER PARFUMS, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(In thousands except share and per share data)

(Unaudited)


ASSETS
	June 30, 2024			December 31, 2023
Current assets:
Cash and cash equivalents	$	38,973		$	88,462
Short-term investments		37,735			94,304
Accounts receivable, net		299,375			247,240
Inventories		433,716			371,859
Receivables, other		5,050			7,012
Other current assets		23,620			29,458
Income taxes receivable		18,919			691
Total current assets		857,388			839,026
Property, equipment and leasehold improvements, net		161,064			169,222
Right-of-use assets, net		25,858			28,613
Trademarks, licenses and other intangible assets, net		282,379			296,356
Deferred tax assets		16,849			14,545
Other assets		20,454			21,567
Total assets	$	1,363,992		$	1,369,329

LIABILITIES AND EQUITY
Current liabilities:
Loans payable - banks	$	18,494		$	4,420
Current portion of long-term debt		28,743			29,587
Current portion of lease liabilities		5,949			5,951
Accounts payable – trade		108,509			97,409
Accrued expenses		145,129			178,880
Income taxes payable		25,612			8,498
Total current liabilities		332,436			324,745
Long–term debt, less current portion		108,482			127,897
Lease liabilities, less current portion		21,868			24,517

Equity:
Inter Parfums, Inc. shareholders’ equity:
Preferred stock, $.001 par; authorized 1,000,000 shares; none issued		—			—
Common stock, $.001 par; authorized 100,000,000 shares; outstanding 32,024,280 and 32,004,660 shares at June 30, 2024 and December 31, 2023, respectively		32			32
Additional paid-in capital		100,505			98,565
Retained earnings		724,268			693,848
Accumulated other comprehensive loss		(54,864	)		(40,188	)
Treasury stock, at cost, 9,981,665 and 9,981,665 shares at June 30, 2024 and December 31, 2023, respectively		(52,864	)		(52,864	)
Total Inter Parfums, Inc. shareholders’ equity		717,077			699,393
Noncontrolling interest		184,129			192,777
Total equity		901,206			892,170
Total liabilities and equity	$	1,363,992		$	1,369,329

See notes to consolidated financial statements.

Page 2

INTER PARFUMS, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME

(In thousands except per share data)

(Unaudited)


	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2024			2023			2024			2023

Net sales	$	342,229		$	309,244		$	666,192		$	620,967

Cost of sales		121,472			120,840			243,050			229,606

Gross margin		220,757			188,404			423,142			391,361

Selling, general and administrative expenses		155,929			133,383			290,341			246,061

Income from operations		64,828			55,021			132,801			145,300

Other expenses (income):
Interest expense		1,941			2,276			3,748			4,633
Loss (gain) on foreign currency		634			(746	)		(270	)		13
Interest and investment loss (income)		1,076			(1,977	)		(1,944	)		(7,359	)
Other income		(74	)		(7	)		(37	)		(48	)

Nonoperating Income (Expense)		3,577			(454	)		1,497			(2,761	)

Income before income taxes		61,251			55,475			131,304			148,061

Income taxes		14,653			12,957			31,403			34,635

Net income		46,598			42,518			99,901			113,426

Less: Net income attributable to the noncontrolling interest		9,775			7,566			22,030			24,406

Net income attributable to Inter Parfums, Inc.	$	36,823		$	34,952		$	77,871		$	89,020

Earnings per share:

Net income attributable to Inter Parfums, Inc. common shareholders:
Basic	$	1.15		$	1.09		$	2.43		$	2.78
Diluted	$	1.14		$	1.09		$	2.41		$	2.77

Weighted average number of shares outstanding:
Basic		32,024			32,006			32,033			32,012
Diluted		32,266			32,162			32,266			32,161

Dividends declared per share	$	0.75		$	0.625		$	1.50		$	1.30

See notes to consolidated financial statements.

Page 3

INTER PARFUMS, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(In thousands)

(Unaudited)


	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2024			2023			2024			2023
Comprehensive income:

Net income	$	46,598		$	42,518		$	99,901		$	113,426

Other comprehensive income:

Net derivative instrument loss, net of tax		(216	)		(77	)		(1,172	)		(4,243	)

Transfer from OCI into earnings		(128	)		—			(64	)		1,709

Translation adjustments, net of tax		(5,912	)		(454	)		(20,494	)		13,035

Comprehensive income		40,342			41,987			78,171			123,927

Comprehensive income attributable to the noncontrolling interests:

Net income		9,775			7,566			22,030			24,406

Other comprehensive income:

Net derivative instrument loss, net of tax		(94	)		(21	)		(322	)		(227	)

Translation adjustments, net of tax		(1,715	)		(211	)		(6,732	)		3,411

Comprehensive income attributable to the noncontrolling interests		7,966			7,334			14,976			27,590

Comprehensive income attributable to Inter Parfums, Inc.	$	32,376		$	34,653		$	63,195		$	96,337

See notes to consolidated financial statements.

Page 4

INTER PARFUMS, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

(In thousands)

(Unaudited)

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2024			2023			2024			2023

Common stock, beginning and end of period	$	32		$	32		$	32		$	32


Additional paid-in capital, beginning of period		100,309			95,429			98,565			90,186
Shares issued upon exercise of stock options		44			262			1,370			5,191
Share-based compensation		260			310			521			624
Transfer of subsidiary shares purchased		(108	)		(17	)		49			(17	)
Additional paid-in capital, end of period		100,505			95,984			100,505			95,984

Retained earnings, beginning of period		711,043			654,440			693,848			620,095
Net income		36,823			34,952			77,871			89,020
Dividends		(23,931	)		(19,997	)		(47,963	)		(40,020	)
Share-based compensation		333			293			512			593
Retained earnings, end of period		724,268			669,688			724,268			669,688

Accumulated other comprehensive loss, beginning of period		(50,417	)		(48,440	)		(40,188	)		(56,056	)
Foreign currency translation adjustment, net of tax		(4,197	)		(243	)		(13,762	)		9,624
Transfer from other comprehensive income into earnings		(128	)		—			(64	)		1,709
Net derivative instrument loss, net of tax		(122	)		(56	)		(850	)		(4,016	)
Accumulated other comprehensive loss, end of period		(54,864	)		(48,739	)		(54,864	)		(48,739	)

Treasury stock, beginning of period		(52,864	)		(43,055	)		(52,864	)		(37,475	)
Shares repurchased		—			(5,709	)		—			(11,289	)
Treasury stock, end of period		(52,864	)		(48,764	)		(52,864	)		(48,764	)

Noncontrolling interest, beginning of period		199,784			191,201			192,777			171,364
Net income		9,775			7,566			22,030			24,406
Foreign currency translation adjustment, net of tax		(1,715	)		(211	)		(6,732	)		3,411
Net derivative instrument loss, net of tax		(94	)		(21	)		(322	)		(227	)
Share-based (adjustment) compensation		(22	)		43			132			97
Transfer of subsidiary shares purchased		108			(17	)		(49	)		(17	)
Dividends		(23,707	)		(19,828	)		(23,707	)		(20,301	)
Noncontrolling interest, end of period		184,129			178,733			184,129			178,733


Total equity	$	901,206		$	846,934		$	901,206		$	846,934

See notes to consolidated financial statements.

Page 5

INTER PARFUMS, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

(Unaudited)

	Six Months Ended
	June 30,
	2024			2023
Cash flows from operating activities:
Net income	$	99,901		$	113,426
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization		12,020			8,367
Provision for doubtful accounts		715			(650	)
Noncash stock compensation		1,169			1,265
Share of income of equity investment		(70	)		(48	)
Noncash lease expense		3,006			2,620
Deferred tax provision		(2,721	)		(2,987	)
Change in fair value of derivatives		(299	)		164
Changes in:
Accounts receivable		(59,603	)		(35,181	)
Inventories		(71,184	)		(66,144	)
Other assets		6,581			3,406
Operating lease liabilities		(2,873	)		(2,579	)
Accounts payable and accrued expenses		(12,664	)		(23,425	)
Income taxes, net		(437	)		8,531

Net cash used in operating activities		(26,459	)		6,765

Cash flows from investing activities:
Purchases of short-term investments		(80,879	)		(97,079	)
Proceeds from sale of short-term investments		134,078			138,061
Purchases of property, equipment and leasehold improvements		(2,122	)		(3,202	)
Payment for intangible assets acquired		(572	)		(228	)

Net cash provided by investing activities		50,505			37,552

Cash flows from financing activities:
Proceeds from loans payable, bank		14,244			4,947
Repayment of long-term debt		(15,956	)		(15,958	)
Proceeds from exercise of options		1,370			5,191
Dividends paid		(47,963	)		(40,020	)
Dividends paid to noncontrolling interest		(23,707	)		(20,301	)
Purchase of treasury stock		—			(11,289	)

Net cash used in financing activities		(72,012	)		(77,430	)

Effect of exchange rate changes on cash		(1,523	)		2,711

Net (decrease) increase in cash and cash equivalents		(49,489	)		(30,402	)

Cash and cash equivalents - beginning of period		88,462			104,713

Cash and cash equivalents - end of period	$	38,973		$	74,311

Supplemental disclosure of cash flow information:
Cash paid for:
Interest	$	4,264		$	3,189
Income taxes		32,937			30,096

See notes to consolidated financial statements.

Page 6

INTER PARFUMS, INC. AND SUBSIDIARIES

Notes to Consolidated Financial Statements

(Unaudited)

Significant Accounting Policies:

The accounting policies we follow are set forth in the notes to our consolidated financial statements included in our Form 10-K, which was filed with the Securities and Exchange Commission for the year ended December 31, 2023.

Recent Agreements

Van Cleef & Arpels

In 2006, Van Cleef & Arpels and Interparfums SA signed a 12-year worldwide license agreement to manufacture and distribute perfumes and related products under the Van Cleef & Arpels brand name, which was subsequently extended for a further six years until December 31, 2024. Discussions have been underway since 2023 with a view to renewing the license agreement. The new agreement will strengthen the selective distribution of Van Cleef & Arpels fragrances worldwide. The license is to be renewed for an additional 9-year term, beginning January 1, 2025.

Abercrombie & Fitch

In 2023, we announced our agreement to distribute Abercrombie & Fitch’s number one men’s fragrance, Fierce, in selected markets. The first phase of the agreement, which became effective on September 1, 2023, covers Fierce distribution in certain major markets, including Europe, Mexico and Australia. The second phase, which activated in February 2024, covers distribution in additional markets in Western Europe and Latin America, and may include other flankers of the Fierce family of products.

Roberto Cavalli

In July 2023, we closed a transaction agreement with Roberto Cavalli, whereby an exclusive and worldwide license was granted for the production and distribution of Roberto Cavalli brand perfumes and fragrance related products. Our rights under this license are subject to certain minimum advertising expenditures and royalty payments as are customary in our industry. The license became effective in July 2023 and will last for 6.5 years. We began shipping Roberto Cavalli perfumes and fragrance related products in February 2024.

Lacoste

In December 2022, we closed a transaction agreement with Lacoste, whereby an exclusive and worldwide license was granted for the production and distribution of Lacoste brand perfumes and cosmetics. Our rights under this license are subject to certain minimum advertising expenditures and royalty payments as are customary in our industry. The license became effective in January 2024 and will last for 15 years. We began shipping Lacoste fragrances in January 2024.

Dunhill

The Dunhill fragrance license expired on September 30, 2023 and was not renewed. The Company has a twelve-month sell-off period during which it will maintain the right to sell-off remaining Dunhill fragrance inventory, which is customary in the fragrance industry. All usable components have been converted to finished goods, and any remaining components will be destroyed.

Rochas Fashion

As a result of operational challenges faced by the Rochas Fashion business in prior years, we took a $2.4 million impairment charge and a $6.8 million impairment charge on our Rochas fashion trademark in the first quarter of 2021 and the fourth quarter of 2022, respectively. In 2023, the Rochas teams underwent a strategic shift to take over their own brand operations, exiting contracts with manufacturers and distributors to make this new structure operational beginning in 2024. An independent expert concluded that the valuation based on this new business model would not require additional impairments as of December 31, 2023. There have been no triggering events in the first half of 2024 to require additional impairment analysis.

Page 7

INTER PARFUMS, INC. AND SUBSIDIARIES

Notes to Consolidated Financial Statements

Land and Building Acquisition - Headquarters in Paris

In April 2021, Interparfums SA, our 72% owned French Subsidiary, completed the acquisition of its headquarters at 10 rue de Solférino in the 7th arrondissement of Paris from the property developer. This is an office complex combining three buildings connected by two inner courtyards, and consists of approximately 40,000 total sq. ft.

The purchase price included the complete renovation of the site. As of June 30, 2024, $149 million (€139 million) of the purchase price, including approximately $3 million of acquisition costs, is included in property, equipment and leasehold improvements on the accompanying consolidated balance sheet. The purchase price has been allocated approximately $61.3 million (€57 million) to land and $87.9 million (€82 million) to the building. The building, which was delivered on February 28, 2022, includes the building structure, development of the property, façade waterproofing, general and technical installations and interior fittings that will be depreciated over a range of 7 to 50 years. The Company has elected to depreciate the building cost based on the useful lives of its components.

The acquisition was financed by a 10-year €120 million (approximately $128.5 million) bank loan which bears interest at one-month Euribor plus 0.75%. Approximately €80 million of the variable rate debt was swapped for variable interest rate debt with a maximum rate of 2% per annum. The swap effectively exchanges the variable interest rate to a fixed rate of approximately 1.1%.

Recent Accounting Pronouncements:

There are no recent accounting pronouncements issued but not yet adopted that would have a material effect on our consolidated financial statements.

Inventories:

Inventories consist of the following:

(In thousands)	June 30, 2024		December 31, 2023
Raw materials and component parts	$	174,887	$	158,733
Finished goods		258,829		213,126

	$	433,716	$	371,859

Page 8

INTER PARFUMS, INC. AND SUBSIDIARIES

Notes to Consolidated Financial Statements

Fair Value Measurement:

The following tables present our financial assets and liabilities that are measured at fair value on a recurring basis and are categorized using the fair value hierarchy. The fair value hierarchy has three levels based on the reliability of the inputs used to determine fair value.


			Fair Value Measurements at June 30, 2024
	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Short-term investments	$	37,735	$	8,821	$	28,914	$	—
Interest rate swaps		3,949		—		3,949		—

	$	41,684	$	8,821	$	32,863	$	—
Liabilities:
Foreign currency forward exchange contracts not accounted for using hedge accounting	$	70	$	—	$	70	$	—
Foreign currency forward exchange contracts accounted for using hedge accounting		48		—		48		—

	$	118	$	—	$	118	$	—


			Fair Value Measurements at December 31, 2023
	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Short-term investments	$	94,304	$	12,868	$	80,614	$	822
Interest rate swaps		3,909		—		3,909		—
Foreign currency forward exchange contracts not accounted for using hedge accounting		359		—		359		—
Foreign currency forward exchange contracts accounted for using hedge accounting		1,533		—		1,533		—

	$	100,105	$	12,868	$	86,415	$	822

The carrying amount of cash and cash equivalents, short-term investments including money market funds and marketable equity securities, accounts receivable, other receivables, accounts payable and accrued expenses approximate fair value due to the short terms to maturity of these instruments. The carrying amount of loans payable approximates fair value as the interest rates on the Company’s indebtedness approximate current market rates. The fair value of the Company’s long-term debt was estimated based on the current rates offered to companies for debt with the same remaining maturities and is approximately equal to its carrying value.

Foreign currency forward exchange contracts are valued based on quotations from financial institutions and the value of interest rate swaps is the discounted net present value of the swaps using third party quotes from financial institutions.

Page 9

INTER PARFUMS, INC. AND SUBSIDIARIES

Notes to Consolidated Financial Statements

Derivative Financial Instruments:

The Company enters into foreign currency forward exchange contracts to hedge exposure related to receivables denominated in a foreign currency and occasionally to manage risks related to future sales expected to be denominated in a foreign currency. Before entering into a derivative transaction for hedging purposes, it is determined that a high degree of initial effectiveness exists between the change in value of the hedged item and the change in the value of the derivative instrument from movement in exchange rates. High effectiveness means that the change in the cash flows of the derivative instrument will effectively offset the change in the cash flows of the hedged item. The effectiveness of each hedged item is measured throughout the hedged period and is based on the dollar offset methodology and excludes the portion of the fair value of the foreign currency forward exchange contract attributable to the change in spot-forward difference which is reported in current period earnings. Any hedge ineffectiveness is also recognized as a gain or loss on foreign currency in the income statement. For hedge contracts that are no longer deemed highly effective, hedge accounting is discontinued, and gains and losses accumulated in other comprehensive income are reclassified to earnings. If it is probable that the forecasted transaction will no longer occur, then any gains or losses accumulated in other comprehensive income are reclassified to current-period earnings.

In December 2022, to finance the acquisition of the Lacoste trademark, the Company entered into a €50 million (approximately $53.5 million) 4-year term loan with a variable interest rate. This variable rate debt was swapped for variable interest rate debt with a maximum rate of 2% per annum. This swap is a hedged derivative instrument and is therefore recorded at fair value and changes in fair value are reflected in other comprehensive income.

In connection with the April 2021 acquisition of the office building complex in Paris, €120 million (approximately $128.5 million) of the purchase price was financed through a 10-year term loan. The Company entered into interest rate swap contracts related to €80 million of the loan, effectively exchanging the variable interest rate to a fixed rate of approximately 1.1%. This derivative instrument is recorded at fair value and changes in fair value are reflected in the accompanying consolidated statements of income.

Gains and losses in derivatives designated as hedges are accumulated in other comprehensive income (loss) and gains and losses in derivatives not designated as hedges are included in loss (gain) on foreign currency on the accompanying consolidated statements of income. Such gains and losses were immaterial for both the six months ended June 30, 2024 and 2023.

All derivative instruments are reported as either assets or liabilities on the consolidated balance sheet measured at fair value. The valuation of interest rate swaps is included in long-term debt on the accompanying consolidated balance sheets. The valuation of foreign currency forward exchange contracts at June 30, 2024, resulted in a net liability and is included in accrued expenses on the accompanying consolidated balance sheet.

At June 30, 2024, the Company had foreign currency contracts in the form of forward exchange contracts with notional amounts of approximately USD $48 million and GBP £11 million which all have maturities of less than one year.

Page 10

INTER PARFUMS, INC. AND SUBSIDIARIES

Notes to Consolidated Financial Statements

7.	Leases:

The Company leases its offices and warehouses, vehicles, and certain office equipment, substantially all of which are classified as operating leases. The Company currently has no material financing leases. The Company determines if an arrangement is a lease at inception. Operating lease assets and obligations are recognized at the lease commencement date based on the present value of lease payments over the lease term.

In determining lease asset value, the Company considers fixed or variable payment terms, prepayments, incentives, and options to extend or terminate, depending on the lease. Renewal, termination or purchase options affect the lease term used for determining lease asset value only if the option is reasonably certain to be exercised. The Company generally uses its incremental borrowing rate based on information available at the lease commencement date for the location in which the lease is held in determining the present value of lease payments.

As of June 30, 2024, the weighted average remaining lease term was 4.6 years and the weighted average discount rate used to determine the operating lease liability was 3%. Rental expense related to operating leases was $1.7 million and $3.3 million for the three and six months ended June 30, 2024, respectively, as compared to $1.5 million and $2.9 million for the corresponding periods of the prior year. Operating lease payments included in operating cash flows totaled $2.9 million and $2.6 million for the six months ended June 30, 2024 and 2023, respectively, and noncash additions to operating lease assets totaled $0.8 million and $2.4 million for the six months ended June 30, 2024 and 2023, respectively.

8.	Share-Based Payments:

The Company maintains a stock option program for key employees, executives and directors. The plans, all of which have been approved by shareholder vote, provide for the granting of both nonqualified and incentive options. Options granted under the plans typically have a six-year term and vest over a four to five-year period. The fair value of shares vested during the six months ended June 30, 2024 and 2023 aggregated $0.04 million and $0.10 million, respectively. Compensation cost, net of estimated forfeitures, is recognized on a straight-line basis over the requisite service period for the entire award. Forfeitures are estimated based on historic trends. It is generally our policy to issue new shares upon exercise of stock options.

The following table sets forth information with respect to nonvested options for the six months ended June 30, 2024:

	Number of Shares			Weighted Average Grant-Date Fair Value
Nonvested options – beginning of period		122,100		$	24.47
Nonvested options granted		—			—
Nonvested options vested or forfeited		(3,200	)	$	11.90
Nonvested options – end of period		118,900		$	24.81

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INTER PARFUMS, INC. AND SUBSIDIARIES

Notes to Consolidated Financial Statements

Share-based payment expense decreased income before income taxes by $0.58 million and $1.17 million for the three and six months ended June 30, 2024 respectively, as compared to $0.63 million and $1.27 million for the corresponding periods of the prior year. and decreased income attributable to Inter Parfums, Inc. by $0.38 million and $0.77 million for the three and six months ended June 30, 2024 respectively. as compared to $0.43 million and $0.86 million for the corresponding periods of the prior year.

The following table summarizes stock option information as of June 30, 2024:

	Shares			Weighted Average Exercise Price

Outstanding at January 1, 2024		308,970		$	86.52
Options forfeited		(200	)		73.09
Options exercised		(19,620	)		69.81

Outstanding at June 30, 2024		289,150		$	87.66

Options exercisable		170,250		$	70.60
Options available for future grants		537,565

As of June 30, 2024, the weighted average remaining contractual life of options outstanding is 2.45 years (1.2 years for options exercisable); the aggregate intrinsic value of options outstanding and options exercisable is $9.7 million and $7.7 million, respectively; and unrecognized compensation cost related to stock options outstanding aggregated $2.0 million.

Cash proceeds, tax benefits and intrinsic value related to stock options exercised during the six months ended June 30, 2024 and 2023 were as follows:

(In thousands)	June 30, 2024		June 30, 2023

Cash proceeds from stock options exercised	$	1,370	$	5,192
Tax benefits		224		840
Intrinsic value of stock options exercised		1,409		5,773

There were no options granted during the six months ended June 30, 2024 and June 30, 2023.

Expected volatility is estimated based on historic volatility of the Company’s common stock. The expected term of the option is estimated based on historic data. The risk-free rate is based on the U.S. Treasury yield curve in effect at the time of the grant of the option and the dividend yield reflects the assumption that the dividend payout as authorized by the Board of Directors maintain its current payout ratio as a percentage of earnings.

In March 2022, Interparfums SA, our 72% owned French Subsidiary, approved a plan to grant an aggregate of 88,400 shares of its stock to all Interparfums SA employees and corporate officers having more than six months of employment at grant date, subject to certain corporate performance conditions. The shares, subject to adjustment for stock splits, will be distributed in June 2025.

The fair value of the grant had been determined based on the quoted stock price of Interparfums SA shares as reported by the Euronext on the date of grant. The estimated number of shares to be distributed of 102,991 has been determined taking into account employee turnover. The aggregate cost of the grant of approximately $4.2 million will be recognized as compensation cost on a straight-line basis over the requisite three and a quarter year service period.

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INTER PARFUMS, INC. AND SUBSIDIARIES

Notes to Consolidated Financial Statements

In order to avoid dilution of the Company’s ownership of Interparfums SA, all shares distributed or to be distributed pursuant to these plans will be pre-existing shares of Interparfums SA, purchased in the open market by Interparfums SA. As of June 30, 2024 the Company acquired 96,371 shares at an aggregate cost of $4.1 million.

All share purchases and issuances have been classified as equity transactions on the accompanying balance sheet.

Net Income Attributable to Inter Parfums, Inc. Common Shareholders:

Net income attributable to Inter Parfums, Inc. per common share (“basic EPS”) is computed by dividing net income attributable to Inter Parfums, Inc. by the weighted average number of shares outstanding. Net income attributable to Inter Parfums, Inc. per share assuming dilution (“diluted EPS”), is computed using the weighted average number of shares outstanding, plus the incremental shares outstanding assuming the exercise of dilutive stock options using the treasury stock method.

The reconciliation between the numerators and denominators of the basic and diluted EPS computations is as follows:

	Three months ended				Six months ended
(In thousands)	June 30,				June 30,
	2024		2023		2024		2023
Numerator:
Net income attributable to Inter Parfums, Inc.	$	36,823	$	34,952	$	77,871	$	89,020
Denominator:
Weighted average shares		32,024		32,006		32,033		32,012
Effect of dilutive securities:
Stock options		242		156		233		149
Denominator for diluted earnings per share		32,266		32,162		32,266		32,161

Earnings per share:
Net income attributable to Inter
Parfums, Inc. common shareholders:
Basic	$	1.15	$	1.09	$	2.43	$	2.78
Diluted		1.14		1.09		2.41		2.77

Not included in the above computations are the effect of antidilutive potential common shares which consist of outstanding options to purchase 0.05 million shares of common stock for the three and six months ended June 30, 2024. There were no antidilutive potential common shares outstanding for the three and six months ended June 30, 2023.

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INTER PARFUMS, INC. AND SUBSIDIARIES

Notes to Consolidated Financial Statements

10.

Segment and Geographic Areas:

The Company manufactures and distributes one product line, fragrances and fragrance related products. The Company manages its business in two segments, European based operations and United States based operations. The European assets are located, and operations are primarily conducted, in France. Both European based operations and United States based operations primarily represent the sale of prestige brand name fragrances.

Information on our operations by segments is as follows:

(In thousands)	Three Months Ended					Six Months Ended
	June 30,					June 30,
	2024			2023		2024			2023
Net sales:
United States	$	120,190		$	111,436	$	215,958		$	192,890
Europe		226,016			197,808		456,974			428,077
Eliminations of intercompany sales		(3,977	)		—		(6,740	)		—

	$	342,229		$	309,244	$	666,192		$	620,967

Net income attributable to Inter Parfums, Inc.:
United States	$	15,225		$	15,567	$	24,752		$	25,910
Europe		23,412			19,385		56,097			63,110
Eliminations		(1,814	)		—		(2,978	)		—
	$	36,823		$	34,952	$	77,871		$	89,020

Eliminations of intercompany sales relate to European based operations products sold to United States based operations.

	June 30,			December 31,
	2024			2023
Total Assets:
United States	$	360,665		$	344,341
Europe		1,018,978			1,066,684
Eliminations		(15,651	)		(41,696	)
	$	1,363,992		$	1,369,329

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INTER PARFUMS, INC. AND SUBSIDIARIES

Item 2:

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

Forward Looking Information

Statements in this report which are not historical in nature are forward-looking statements. Although we believe that our plans, intentions and expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such plans, intentions or expectations will be achieved. In some cases, you can identify forward-looking statements by forward-looking words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “should,” “will” and “would” or similar words. You should not rely on forward-looking statements because actual events or results may differ materially from those indicated by these forward-looking statements as a result of a number of important factors. These factors include, but are not limited to, the risks and uncertainties discussed under the headings “Forward Looking Statements” and “Risk Factors” in Inter Parfums’ annual report on Form 10-K for the fiscal year ended December 31, 2023, and the reports Inter Parfums files from time to time with the Securities and Exchange Commission (“SEC”). Inter Parfums does not intend to and undertakes no duty to update the information contained in this report.

Overview

We operate in the fragrance business, and manufacture, market and distribute a wide array of prestige fragrances and fragrance related products. We manage our business in two segments, European based operations and United States based operations. Certain prestige fragrance products are produced and marketed by our European based operations through our 72% owned subsidiary in Paris, Interparfums SA, which is also a publicly traded company as 28% of Interparfums SA shares trade on the Euronext.

We produce and distribute fragrance products through our European based operations primarily under license agreements with brand owners, and European based fragrance product sales represented approximately 68% and 69% of net sales for the six months ended June 30, 2024 and 2023, respectively. We have built a portfolio of prestige brands, which include Boucheron, Coach, Jimmy Choo, Karl Lagerfeld, Kate Spade, Lacoste, Lanvin, Moncler, Montblanc, Rochas and Van Cleef & Arpels, whose products are distributed in over 120 countries around the world. Our exclusive and worldwide license for the production and distribution of Lacoste brand perfumes and cosmetics became effective in January 2024.

Through our United States based operations, we also market fragrance and fragrance related products. United States based operations represented 32% and 31% of net sales for the three months ended June 30, 2024 and 2023, respectively. These fragrance products are sold primarily pursuant to license or other agreements with the owners of the Abercrombie & Fitch, Anna Sui, Donna Karan, DKNY, Emanual Ungaro, Ferragamo, Graff, GUESS, Hollister, MCM, Oscar de la Renta and Roberto Cavalli brands.

Substantially all of our prestige fragrance brands are licensed from unaffiliated third parties, and our business is dependent upon the continuation and renewal of such licenses. With respect to the Company’s largest brands, we license the Montblanc, Jimmy Choo, Coach, GUESS, Donna Karan/DKNY, Lacoste, and Ferragamo brand names.

As a percentage of net sales, product sales for the Company’s largest brands were as follows:

	Six Months Ended June 30,
	2024			2023

Montblanc		17	%		19	%
Jimmy Choo		16	%		15	%
Coach		14	%		18	%
GUESS		11	%		11	%
Donna Karan/DKNY		6	%		6	%
Lacoste		6	%		—
Ferragamo		4	%		5	%

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INTER PARFUMS, INC. AND SUBSIDIARIES

Quarterly sales fluctuations are influenced by the timing of new product launches as well as the third and fourth quarter holiday season. In certain markets where we sell directly to retailers, seasonality is more evident. We primarily sell directly to retailers in France, the United States, and Italy.

We grow our business in two distinct ways. First, we grow by adding new brands to our portfolio, through new licenses, or other arrangements or outright acquisitions of brands. Second, we grow through the introduction of new products and by supporting new and established products through advertising, merchandising and sampling, as well as phasing out underperforming products, so we can devote greater resources to those products with greater potential. The economics of developing, producing, launching and supporting products influence our sales and operating performance each year. The introduction of new products may have some cannibalizing effect on sales of existing products, which we take into account in our business planning.

Our business is not capital intensive, and it is important to note that we do not own manufacturing facilities. We act as a general contractor and source our needed components from our suppliers. These components are received and stored directly at our third-party fillers or received at one of our distribution centers. For those components received at one of our distribution centers, based upon production needs, the components are subsequently sent to one of several third party fillers, which manufacture the finished product for us and then deliver them to one of our distribution centers.

As with any global business, many aspects of our operations are subject to influences outside our control. We believe we have a strong and well diversified brand portfolio with global reach and potential. As part of our strategy, we plan to continue to make investments behind fast-growing markets and channels to grow market share.

Our reported net sales are impacted by changes in foreign currency exchange rates. A strong U.S. dollar has a negative impact on our net sales. However, earnings are positively affected by a strong dollar, because greater than 50% of net sales of our European based operations are denominated in U.S. dollars, while almost all costs of our European based operations are incurred in euro. Conversely, a weak U.S. dollar has a favorable impact on our net sales while gross margins are negatively affected. We address certain financial exposures through a controlled program of risk management that includes the use of derivative financial instruments and primarily enter into foreign currency forward exchange contracts to reduce the effects of fluctuating foreign currency exchange rates.

Recent Important Events

Please see our discussion of Recent Important Events, which is incorporated by reference to Note 2 to the Consolidated Financial Statements contained in this Quarterly Report on Form 10-Q for the quarter ended June 30, 2024.

Discussion of Critical Accounting Policies

Information regarding our critical accounting policies can be found in our 2023 Annual Report on Form 10-K filed with the SEC.

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INTER PARFUMS, INC. AND SUBSIDIARIES

Results of Operations

Three and Six Months Ended June 30, 2024 as Compared to the Three and Six Months Ended June 30, 2023

Net Sales:

	Three Months Ended								Six Months Ended
	June 30,								June 30,
(in millions)	2024			2023		% Change			2024			2023		% Change

European based product sales	$	226.0		$	197.8		14.3	%	$	457.0		$	428.1		6.8	%
United States based product sales		120.2			111.5		7.9	%		216.0			192.9		12.0	%
Eliminations		(4.0	)		—		—			(6.8	)		—		—
	$	342.2		$	309.3		10.7	%	$	666.2		$	621.0		7.3	%

Net sales for the three months ended June 30, 2024 increased 10.7% from the three months ended June 30, 2023. At comparable foreign currency exchange rates, net sales increased 11.1% from the second quarter of 2023. The average dollar/euro exchange rate for the current second quarter was 1.08 compared to 1.09 in the second quarter of 2023, while the average dollar/euro exchange rate was 1.08 for both the six months ended June 30, 2024 and 2023. Net sales for the six months ended June 30, 2024 increased 7.3% as compared to the six months ended June 30, 2023.

Continuing the trend from the first quarter 2024, the current second quarter saw modest sales growth, as compared to the corresponding period of the prior year, largely due to the exceptional performance of both European and United States based operations in 2023 where net sales grew 26% compared to 2022.

For European based operations, Jimmy Choo grew sales by 31% while Montblanc and Coach saw decreases in sales of 3% and 5%, respectively, as compared to the corresponding period of the prior year. This was largely driven by the substantial increases in sales of Montblanc and Coach in the second quarter of 2023 of 16% and 28%, respectively, as compared to the second quarter of 2022. During the first quarter of 2024, we began selling the Lacoste brand, which added $39.5 million in sales during the first half of the year.

Sales by our United States based operations grew a modest 7.9% in the second quarter of 2024 off a high 2023 base when second quarter sales had expanded 42%. The addition and extension of Roberto Cavalli contributed to the continued growth in United States based operations. For the first half of 2024, we saw growth of 8% and 14% for GUESS and Donna Karan/DKNY, respectively, following successful and continued brand expansions.

During the second quarter of 2024, we debuted Montblanc Collection and Jimmy Choo I Want Choo Le Parfum, which contributed to the continued brand strength of our two largest brands. Additionally, during the second quarter of 2024, we debuted Coach Dreams Moonlight and Lacoste Original which helped drive continued success of established and new brands for our portfolio. We also debuted MCM Crush in the second quarter of 2024 helping MCM realize double digit growth from prior year. Many of our mid-sized brands, including Karl Lagerfeld and Rochas, also achieved double digit sales gains. Additionally, we introduced brand extensions within established lines for Ferragamo and Guess. For Ferragamo we enriched the Signorina line with the launch of Signorina Unica. In the second quarter we launched Guess Iconic and Guess Amore helping to grow one of our largest brands.

The second quarter growth was in line with expectations, and we are confident in our future as we look forward to executing our plans for the remainder of 2024. Our brands are in high demand in a robust environment for the fragrance industry, and we have many exciting developments planned for the Company. We have a large number of brand extensions across many of our brands launching throughout the year, plus the upcoming international expansion of Lacoste Original. Additionally, there is a new flanker for Roberto Cavalli Signature and a new DKNY blockbuster fragrance, DKNY 24/7, that launched in select markets at the end of the second quarter and will see full scale distribution in September 2024. In sum, 2024 has all the earmarks of another superb year as the growth catalysts currently far outweigh the headwinds.

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INTER PARFUMS, INC. AND SUBSIDIARIES

Net Sales to Customers by Region	Six Months Ended
(In millions)	June 30,
	2024		2023

North America	$	229.7	$	218.8
Western Europe		170.6		153.9
Asia/Pacific		104.8		98.5
Central and South America		59.2		46.9
Middle East and Africa		61.6		57.3
Eastern Europe		40.3		45.6
	$	666.2	$	621.0

In the first half of 2024, second quarter sales in our largest market, North America, rose 5%, followed by Western Europe and Asia/Pacific where comparable half year sales in both regions increased 11% and 6%, respectively. Our sales in Central and South America and the Middle East and Africa were also robust, up 26% and 8%, respectively. Additionally, our travel retail business is continuing to show signs of renewed life. Eastern Europe was adversely impacted by sourcing constraints in the first quarter, which showed signs of improvement during the second quarter 2024.

Gross Profit margin	Three Months Ended						Six Months Ended
(in millions)	June 30,						June 30,
	2024			2023			2024			2023

European based operations
Net sales	$	226.0		$	197.8		$	457.0		$	428.1
Cost of sales		70.6			73.1			153.8			147.4
Gross margin	$	155.4		$	124.7		$	303.2		$	280.7
Gross margin as a % of net sales		68.8	%		63.0	%		66.3	%		65.6	%

United States based operations
Net sales	$	120.2		$	111.5		$	216.0		$	192.9
Cost of sales		52.2			47.7			91.8			82.2
Gross margin	$	68.0		$	63.8		$	124.2		$	110.7
Gross margin as a % of net sales		56.5	%		57.2	%		57.5	%		57.4	%

The Company’s gross profit margin as a percentage of net sales was 64.5% and 63.5% for the three and six months ended June 30, 2024, respectively, as compared to 60.9% and 63.0% for the corresponding periods of the prior year. The increase was driven by favorable segment, geographic and channel mix, as well as certain one-time expenses related to inventory discussed further below. As expected,the adverse impacts experienced in the first quarter of 2024 related to cost inflation began to normalize in the second quarter. Excluding the one-time impacts related to the inventory reserves, gross margins would have decreased by approximately 50 basis points for the six months ended June 30, 2024 as compared to the corresponding period of the prior year.

For European based operations, gross profit margin as a percentage of net sales was 68.8% and 66.3% for the three and six months ended June 30, 2024, respectively, as compared to 63.0% and 65.6% for the corresponding periods of the prior year. European based operations were positively impacted by geographic and channel mix. The cost inflation impacts on raw materials purchased in Europe related to increased energy costs largely abated in second quarter. Excluding the one-time impacts related to the inventory reserves, gross margins would have decreased by approximately 70 basis points for the six months ended June 30, 2024 as compared to the corresponding period of the prior year.

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INTER PARFUMS, INC. AND SUBSIDIARIES

For United States based operations, gross profit margin as a percentage of net sales was 56.5% and 57.5% for the three and six months ended June 30, 2024, respectively, as compared to 57.2% and 57.4% for the corresponding periods of the prior year. The decrease in the second quarter was driven by a slightly unfavorable brand mix, with gross margins remaining flat from the same half year period in the prior year.

Generally, we do not bill customers for shipping and handling costs, and such costs, which aggregated $2.5 million and $5.0 million for the three and six months ended June 30, 2024, respectively, as compared to $3.6 million and $7.5 million for the corresponding periods of the prior year, are included in selling, general and administrative expenses in the consolidated statements of income. As such, our Company’s gross profit may not be comparable to other companies, which may include these expenses as a component of cost of goods sold. The improvement in shipping and handling costs in the first half of 2024 as compared to corresponding period in 2023 was a direct benefit of lower transportation costs seen globally.

Selling, general and administrative expenses	Three Months Ended						Six Months Ended
(In millions)	June 30,						June 30,
	2024			2023			2024			2023

European based operations
Selling, general and administrative expenses	$	108.1		$	89.2		$	198.5		$	166.5
Selling, general and administrative expenses as a percent of net sales		47.8	%		45.1	%		43.4	%		38.9	%

United States based operations
Selling, general and administrative expenses	$	47.9		$	44.2		$	91.9		$	79.6
Selling, general and administrative expenses as a percent of net sales		39.8	%		39.7	%		42.5	%		41.3	%

The Company’s selling, general and administrative expenses as a percentage of net sales was 45.6% and 43.6% for the three and six months ended June 30, 2024 as compared to 43.1% and 39.6% for the three and six months ended June 30, 2023. The increase was largely driven by increased spending on promotional and advertising activities in both the second quarter and first half of 2024 as compared to the prior year periods. Additionally, starting in 2024, the Company began to amortize the cost of the Lacoste license which represented $3.2 million during the first half of the year. These costs will be incurred at approximately $1.6 million quarterly over the remaining life of the license.

For European based operations, selling, general and administrative expenses increased 21.2% and 19.2% for the three and six months ended June 30, 2024 as compared to the corresponding period of the prior year, and represented 47.8% and 43.4% of net sales for the three and six months ended June 30, 2024, respectively, as compared to 45.1% and 38.9% for the three and six months ended June 30, 2023, respectively. As discussed above, this increase is driven by increased promotion and advertising spending as well as the impact of the amortization of the Lacoste license. For United States based operations, selling, general and administrative expenses increased 8.2% and 15.4% for the three and six months ended June 30, 2024, as compared to the corresponding period of the prior year, and represented 39.8% and 42.5% of net sales for the three and six months ended June 30, 2024, respectively, as compared to 39.7% and 41.3% for the three and six months ended June 30, 2024, respectively. The increase was largely driven by continued investment in infrastructure and headcount to support the growth of the business.

Promotion and advertising included in selling, general and administrative expenses aggregated $66.4 million and $114.7 million for the three and six months ended June 30, 2024, respectively, as compared to $54.6 million and $89.8 million for the corresponding periods of the year and represented 19.4% and 17.2% of net sales for the three and six months ended June 30, 2024, respectively, as compared to 17.7% and 14.5% for the corresponding periods of the prior year.. Promotion and advertising are integral parts of our industry, and we continue to invest heavily to support new product launches and to build brand awareness. We believe that our promotion and advertising efforts have a beneficial effect on sales. Historically, the Company incurred the majority of our promotional and advertising expenditures in the second half of the year. Beginning in 2024, the Company implemented a strategy to increase spending in the first half of the year to better support and drive business growth throughout the year. Additionally, as the second quarter of 2024 saw a lighter innovation program than prior years, the Company focused on increasing promotional and advertising spending to support the continued success of our existing brands and to support the initial launch of our new brands, Lacoste and Roberto Cavalli. We also continue to develop and implement omnichannel concepts and compelling content to deliver an integrated consumer experience. Long term, we continue to anticipate that on a full year basis, promotion and advertising expenditures will aggregate approximately 21% of net sales.

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INTER PARFUMS, INC. AND SUBSIDIARIES

Royalty expense included in selling, general and administrative expenses aggregated $27.0 million and $54.2 million for the three and six months ended June 30, 2024, respectively, as compared to $24.0 million and $48.1 million for the corresponding periods of the prior year. Royalty expense represented 7.9% and 8.1% of net sales for the three and six months ended June 30, 2024, respectively, as compared to 7.8% and 7.7% of net sales for the corresponding periods of the prior year. This increase was primarily driven by unfavorable brand mix.

Income from Operations

As a result of the above analysis regarding net sales, gross profit margins and selling, general and administrative expenses, our operating margins aggregated 18.9% and 19.9% for the three and six months ended June 30, 2024, respectively, as compared to 17.8% and 23.4% for the corresponding periods of the prior year.

Other Income and Expense

Overall, other income and expense for the six months ended June 30, 2024, was $1.5 million as compared to a gain of $2.8 million in the corresponding prior year period. The main driver of the decrease was the one-time gain recognized in 2023 related to the sale of marketable securities discussed below.

Interest expense is primarily related to the financing of brand and licensing acquisitions. In December 2022, to finance the acquisition of the Lacoste trademark, the Company entered into a $53.5 million (€50 million) four-year loan agreement. The loan agreement bears interest at EURIBOR-1 month rates plus a margin of 0.825%. This variable rate debt was swapped for variable interest rate debt with a maximum rate of 2% per annum. Additionally, in April 2021, we completed the acquisition of the headquarters of Interparfums SA. The acquisition was financed by a 10-year approximately $128.5 million (€120 million) bank loan which bears interest at one-month Euribor plus 0.75%. Approximately $85.6 million (€80 million) of the variable rate debt was swapped for fixed interest rate debt with a maximum interest rate of 2% per annum. The swap effectively exchanges the variable interest rate to a fixed rate of approximately 1.1%. Long-term debt including current maturities aggregated $137.2 million and $157.5 million as of June 30, 2024 and December 31, 2023, respectively.

We enter into foreign currency forward exchange contracts to manage exposure related to receivables from unaffiliated third parties denominated in a foreign currency and occasionally to manage risks related to future sales expected to be denominated in a foreign currency. Greater than 50% of net sales of our European based operations are denominated in U.S. dollars. Gains and losses in derivatives designated as hedges are accumulated in other comprehensive income and gains and losses in derivatives not designated as hedges are included in (gain) loss on foreign currency on the accompanying consolidated income statements. Such gains and losses were immaterial in the three and six months ended June 30, 2024 and 2023.

Interest and investment income represents interest earned on cash and cash equivalents and short-term investments. As of June 30, 2024, short-term investments include approximately $8.8 million of marketable equity securities of other companies in the luxury goods sector. In the first quarter of 2023, the Company sold marketable securities which generated a gain of $3.1 million. The Company purchased additional marketable securities throughout 2023 and in the first half of 2024, resulting in an unrealized loss of $0.6 million for the first half of 2024.

Income Taxes

Our consolidated effective tax rate was 23.9% and 23.4% for the six months ended June 30, 2024 and 2023, respectively. The effective tax rate for European based operations was 25.0% for both the six months ended June 30, 2024 and 2023, while the effective tax rate for United States based operations was 19.9% for the six months ended June 30, 2024, as compared to 17.4% for the corresponding period of the prior year. Our effective tax rate for United States based operations differs from the 21% statutory rate in the United States as it is a blended rate across multiple jurisdictions and takes into account benefits received from the exercise of stock options as well as deductions we are allowed for a portion of our foreign derived intangible income, slightly offset by state and local taxes. Other than as discussed above, we did not experience any significant changes in tax rates, and none were expected in jurisdictions where we operate.

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INTER PARFUMS, INC. AND SUBSIDIARIES

Net Income

	Three Months Ended					Six Months Ended
(In thousands)	June 30,					June 30,
	2024			2023		2024			2023

Net income attributable to European based operations	$	33,187		$	26,950	$	78,127		$	87,515
Net income attributable to United States based operations		15,225			15,568		24,752			25,911
Eliminations		(1,814	)		—		(2,978	)		—
Net income		46,598			42,518		99,901			113,426
Less: Net income attributable to the noncontrolling interest		9,775			7,566		22,030			24,406
Net income attributable to Inter Parfums, Inc.	$	36,823		$	34,952	$	77,871		$	89,020

Net income attributable to Inter Parfums, Inc. was $36.8 million and $77.9 million for the three and six months ended June 30, 2024, respectively, as compared to $35.0 million and $89.0 million for the corresponding periods of the prior year.

Net income attributable to European based operations was $33.2 million and $78.1 million for the three and six months ended June 30, 2024, respectively, as compared to $27.0 million and $87.5 million for the corresponding periods of the prior year, while net income attributable to United States based operations was $15.2 million and $24.8 million for the three and six months ended June 30, 2024, respectively, as compared to $15.6 million and $25.9 million for the corresponding periods of the prior year. The significant fluctuations in net income for both European based operations and United States based operations are directly related to the previous discussions pertaining to changes in sales, gross margin, and selling, general and administrative expenses.

The noncontrolling interest arises from our 72% owned subsidiary in Paris, Interparfums SA, which is also a publicly traded company as 28% of Interparfums SA shares trade on the Euronext. Net income attributable to the noncontrolling interest is directly related to the profitability of our European based operations and aggregated 28% of European based operations net income for both the six months ended June 30, 2024 and 2023. Net profit margins attributable to Inter Parfums, Inc. as of June 30, 2024 and 2023 aggregated 11.7% and 14.3%, respectively.

Liquidity and Capital Resources

Our conservative financial tradition has enabled us to amass significant cash balances. As of June 30, 2024, we had $77 million in cash, cash equivalents and short-term investments, most of which are held in euro by our European based operations and is readily convertible into U.S. dollars. We have not had any liquidity issues to date, and do not expect any liquidity issues relating to such cash and cash equivalents and short-term investments.

As of June 30, 2024, working capital aggregated $525 million. Approximately 75% of the Company’s total assets are held by European based operations, and approximately $244 million of trademarks, licenses and other intangible assets are also held by European based operations.

The Company is party to a number of licenses and other agreements for the use of trademarks and rights in connection with the manufacture and sale of its products expiring at various dates through 2039. In connection with most of these license agreements, the Company is subject to minimum annual advertising commitments, minimum annual royalties and other commitments. See Item 8. Financial Statements and Supplementary Data – Note 12 – Commitments in our 2023 annual report on Form 10-K, which is incorporated by reference herein. Future advertising commitments are estimated based on planned future sales for the license terms that were in effect at December 31, 2023, without consideration for potential renewal periods and do not reflect the fact that our distributors share our advertising obligations.

Page 21

INTER PARFUMS, INC. AND SUBSIDIARIES

The Company hopes to continue to benefit from its strong financial position to potentially acquire one or more brands, either on a proprietary basis or as a licensee. Discussions have been underway since 2023 with a view to renewing the Van Cleef & Arpels license agreement. The license is to be renewed for an additional 9-year term, beginning January 1, 2025. In July 2023, we entered into a global licensing agreement for the creation, development and distribution of fragrances and fragrance-related products under the Roberto Cavalli brand. Our rights under this license are subject to certain minimum advertising expenditures and royalty payments as are customary in our industry. This license took effect in July 2023, and we began shipping products in February 2024.

In December 2022, we entered into a long-term global licensing agreement for the creation, development and distribution of fragrances and fragrance-related products under the Lacoste brand. Our rights under this license are subject to certain minimum advertising expenditures and royalty payments as are customary in our industry. This license took effect and products started to ship in January 2024.

Cash used in operating activities aggregated $26.5 million for the six months ended June 30, 2024 and cash provided by operating activities aggregated $6.8 million for the six months ended June 30, 2023. For the six months ended June 30, 2024, working capital items used $140.2 million in cash from operating activities, as compared to $115.4 million in the 2023 period. Although from a cash flow perspective accounts receivables are up 24% from year end 2023, the balance is reasonable based on second quarter 2024 record sales levels and seasonality of the business. Although day’s sales outstanding was 72 days, up from 65 days in the corresponding period of the prior year, we are down from 73 days at the end of the first quarter of 2024, are still seeing strong collection activity and do not anticipate any issues with collections of accounts receivable. From a cash flow perspective, inventory levels as of June 30, 2024 increased 19% from year end 2023 in support of our overall sales growth as well as the building up of inventory related to the inclusion of the Lacoste and Roberto Cavalli licenses which require large inventory needs to support the launches of these brands. Additionally, as we are working to manage down our inventory levels, we have seen increased conversion of raw materials into finished goods resulting in finished goods making up 60% of our inventory levels at June 30, 2024 as compared to 52% at June 30, 2023. Since 2021, we have strived to carry more inventory overall, source the same components from multiple suppliers and when possible, manufacture products closer to where they are sold.

Cash flows provided by investing activities in 2024 reflect purchases and sales of short-term investments. These investments consist of certificates of deposit with maturities greater than three months, marketable equity securities and other contracts. At June 30, 2024, approximately $2.0 million of certificates of deposit contain penalties where we would forfeit a portion of the interest earned in the event of early withdrawal.

Our business is not capital intensive as we do not own any manufacturing facilities. On a full year basis, we typically spend approximately $5.0 million on tools and molds, depending on our new product development calendar. Capital expenditures also include amounts for office fixtures, computer equipment and industrial equipment needed at our distribution centers.

Cash flows used in financing activities in the first half of 2024 reflect issuances and repayments of debt and payment of dividends to stockholders.

Our short-term financing requirements are expected to be met by available cash on hand at June 30, 2024, and by short-term credit lines provided by domestic and foreign banks. The principal credit facilities for 2024 consist of a $25 million unsecured revolving line of credit provided by a domestic commercial bank and approximately $8 million in credit lines provided by a consortium of international financial institutions. There was $18.5 million of short-term borrowings outstanding pursuant to these facilities as of June 30, 2024 and $5 million outstanding as of June 30, 2023.

In February 2023, the Board of Directors authorized an annual dividend of $2.50 per share. In February 2024, the Board of Directors further increased the annual dividend to $3.00 per share. The next quarterly cash dividend of $0.75 per share is payable on September 30, 2024, to shareholders of record on September 13, 2024.

We believe that funds provided by or used in operations can be supplemented by our present cash position and available credit facilities, so that they will provide us with sufficient resources to meet all present and reasonably foreseeable future operating needs.

Inflation rates in the United States and foreign countries in which we operate did impact operating results for the six months ended June 30, 2024, as they resulted in slightly higher costs of inventory and were not fully offset by price increases we passed onto our respective customers or operating efficiencies.

Page 22

INTER PARFUMS, INC. AND SUBSIDIARIES

Item 3:

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

General

We address certain financial exposures through a controlled program of risk management that primarily consists of the use of derivative financial instruments. We primarily enter into foreign currency forward exchange contracts in order to reduce the effects of fluctuating foreign currency exchange rates. We do not engage in the trading of foreign currency forward exchange contracts or interest rate swaps.

Foreign Exchange Risk Management

We periodically enter into foreign currency forward exchange contracts to hedge exposure related to receivables denominated in a foreign currency and to manage risks related to future sales expected to be denominated in a currency other than our functional currency. We enter into these exchange contracts for periods consistent with our identified exposures. The purpose of the hedging activities is to minimize the effect of foreign exchange rate movements on the receivables and cash flows of Interparfums SA, whose functional currency is the euro. All foreign currency contracts are denominated in currencies of major industrial countries and are with large financial institutions, which are rated as strong investment grade.

All derivative instruments are required to be reflected as either assets or liabilities in the balance sheet measured at fair value. Generally, increases or decreases in fair value of derivative instruments will be recognized as gains or losses in earnings in the period of change. If the derivative is designated and qualifies as a cash flow hedge, then the changes in fair value of the derivative instrument will be recorded in other comprehensive income.

Before entering into a derivative transaction for hedging purposes, we determine that the change in the value of the derivative will effectively offset the change in the fair value of the hedged item from a movement in foreign currency rates. Then, we measure the effectiveness of each hedge throughout the hedged period. Any hedge ineffectiveness is recognized in the income statement.

At June 30, 2024, we had foreign currency contracts in the form of forward exchange contracts of approximately USD $48 million and GBP £11 million with maturities of less than one year. We believe that our risk of loss as the result of nonperformance by any of such financial institutions is remote.

Interest Rate Risk Management

We mitigate interest rate risk by monitoring interest rates, and then determining whether fixed interest rates should be swapped for floating rate debt, or if floating rate debt should be swapped for fixed rate debt.

Item 4.

CONTROLS AND PROCEDURES

Evaluation of Disclosure Controls and Procedures

Our Chief Executive Officer and Chief Financial Officer have reviewed and evaluated the effectiveness of our disclosure controls and procedures (as defined in the Securities Exchange Act of 1934 Rule 13a-15(e)) as of the end of the period covered by this quarterly report on Form 10-Q (the “Evaluation Date”). Based on their review and evaluation, our Chief Executive Officer and Chief Financial Officer have concluded that as of the Evaluation Date, our Company’s disclosure controls and procedures were effective.

Changes in Internal Control Over Financial Reporting

There has been no change in our internal control over financial reporting (as defined in Rule 13a-15(f) of the Securities Exchange Act of 1934) that occurred during the quarterly period covered by this report on Form 10-Q that has materially affected, or is reasonably likely to materially affect, the Company’s internal control over financial reporting.

Page 23

Part II. Other Information

Item2.

Unregistered Sales of Equity Securities and Use of Proceeds.

Item (c).

In December 2022, our Board of Directors authorized a share repurchase program for our outstanding common stock. During 2023, the Company repurchased 116,860 shares at a cost of $15.4 million. These shares are classified as treasury shares on the accompanying consolidated balance sheet. In February 2024, our Board of Directors authorized the Company to continue repurchasing up to 130,000 shares throughout 2024.

Inter Parfums, Inc. Purchase of Common Stock
Period	Total Number of Shares Purchased	Average price paid per share	Total number of shares purchased as part of publicly announced plans or programs	Maximum number (or approximate dollar value) of shares that may yet be purchased under the plans or programs
April 1-30	0	n/a	0	130,000 shares
May 1-31	0	n/a	0	130,000 shares
June 1-30	0	n/a	0	130,000 shares
Total	0	n/a	0	130,000 shares

Item 5. Other Information

Item (c). During the Second quarter of 2024, no director or officer has adopted or terminated either any “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement,” as such terms are defined in the applicable regulation.

Items 1. Legal Proceedings, 1A. Risk Factors, 3. Defaults Upon Senior Securities and 4. Mine Safety Disclosures, are omitted as they are either not applicable or have been included in Part I.

Page 24

INTER PARFUMS, INC. AND SUBSIDIARIES

Item 6. Exhibits.

The following documents are filed herewith:

Exhibit No.	Description	Page Number

31.1	Certifications required by Rule 13a-14(a) of Chief Executive Officer	27

31.2	Certifications required by Rule 13a-14(a) of Chief Financial Officer and Principal Accounting Officer	28

32.1	Certification required by Section 906 of the Sarbanes-Oxley Act of Chief Executive Officer	29

32.2	Certification required by Section 906 of the Sarbanes-Oxley Act of Chief Financial Officer and Principal Accounting Officer	30

101	Interactive data files

Page 25

INTER PARFUMS, INC. AND SUBSIDIARIES

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized on the 6th day of August 2024.

		INTER PARFUMS, INC.

	By:	/s/ Michel Atwood
		Chief Financial Officer

Page 26

INTER PARFUMS, INC. AND SUBSIDIARIES

Exhibit 31.1

CERTIFICATIONS

I, Jean Madar, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Inter Parfums, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this quarterly report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures as of the end of the period covered by this report based upon such evaluation; and

d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth quarter in case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of registrant's board of directors (or persons performing the equivalent functions):

a) all significant deficiencies and material weaknesses in the design or operation of internal controls over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: August 6, 2024

/s/ Jean Madar
Jean Madar,
Chief Executive Officer

Page 27

INTER PARFUMS, INC. AND SUBSIDIARIES

Exhibit 31.2

I, Michel Atwood, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Inter Parfums, Inc.;

b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: August 6, 2024

/s/ Michel Atwood
Michel Atwood
Chief Financial Officer and
Principal Accounting Officer

Page 28

INTER PARFUMS, INC. AND SUBSIDIARIES

Exhibit 32.1

CERTIFICATION

The undersigned hereby certifies, in accordance with 18 U.S.C. 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, in his capacity as an officer of Inter Parfums, Inc., that the Quarterly Report of Inter Parfums, Inc. on Form 10-Q for the period ended June 30, 2024, fully complies with the requirements of Section 13(a) of the Securities Exchange Act of 1934 and that the information contained in such report fairly presents, in all material respects, the financial condition and results of operation of Inter Parfums, Inc.

Date: August 6, 2024	By:	/s/ Jean Madar
		Jean Madar,
		Chief Executive Officer

A signed original of this written statement required by Section 906 has been provided to Inter Parfums, Inc. and will be retained by Inter Parfums, Inc. and furnished to the Securities and Exchange Commission or its staff upon request.

Page 29

INTER PARFUMS, INC. AND SUBSIDIARIES

Exhibit 32.2

CERTIFICATION

Date: August 6, 2024	By:	/s/ Michel Atwood
		Michel Atwood
		Chief Financial Officer and
		Principal Accounting Officer

Page 30

Cover - shares	6 Months Ended
Cover - shares	Jun. 30, 2024	Aug. 06, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2024
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2024
Current Fiscal Year End Date	--12-31
Entity File Number	0-16469
Entity Registrant Name	INTER PARFUMS, INC.
Entity Central Index Key	0000822663
Entity Tax Identification Number	13-3275609
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	551 Fifth Avenue
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10176
City Area Code	(212)
Local Phone Number	983-2640
Title of 12(b) Security	Common Stock, $.001 par value per share
Trading Symbol	IPAR
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		32,024,280

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 38,973	$ 88,462
Short-term investments	37,735	94,304
Accounts receivable, net	299,375	247,240
Inventories	433,716	371,859
Receivables, other	5,050	7,012
Other current assets	23,620	29,458
Income taxes receivable	18,919	691
Total current assets	857,388	839,026
Property, equipment and leasehold improvements, net	161,064	169,222
Right-of-use assets, net	25,858	28,613
Trademarks, licenses and other intangible assets, net	282,379	296,356
Deferred tax assets	16,849	14,545
Other assets	20,454	21,567
Total assets	1,363,992	1,369,329
Current liabilities:
Loans payable - banks	18,494	4,420
Current portion of long-term debt	28,743	29,587
Current portion of lease liabilities	5,949	5,951
Accounts payable – trade	108,509	97,409
Accrued expenses	145,129	178,880
Income taxes payable	25,612	8,498
Total current liabilities	332,436	324,745
Long–term debt, less current portion	108,482	127,897
Lease liabilities, less current portion	21,868	24,517
Equity:
Preferred stock, $.001 par; authorized 1,000,000 shares; none issued	0	0
Common stock, $.001 par; authorized 100,000,000 shares; outstanding 32,024,280 and 32,004,660 shares at June 30, 2024 and December 31, 2023, respectively	32	32
Additional paid-in capital	100,505	98,565
Retained earnings	724,268	693,848
Accumulated Other Comprehensive Income Loss Net Of Tax	(54,864)	(40,188)
Treasury stock, at cost, 9,981,665 and 9,981,665 shares at June 30, 2024 and December 31, 2023, respectively	(52,864)	(52,864)
Total Inter Parfums, Inc. shareholders’ equity	717,077	699,393
Noncontrolling interest	184,129	192,777
Total equity	901,206	892,170
Total liabilities and equity	$ 1,363,992	$ 1,369,329

CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Preferred Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Preferred stock, authorized	1,000,000	1,000,000
Preferred stock, issued	0	0
Common Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Common stock, authorized	100,000,000	100,000,000
Common stock, outstanding	32,024,280	32,004,660
Treasury stock, shares	9,981,665	9,981,665

CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Statement [Abstract]
Net sales	$ 342,229	$ 309,244	$ 666,192	$ 620,967
Cost of sales	121,472	120,840	243,050	229,606
Gross margin	220,757	188,404	423,142	391,361
Selling, general and administrative expenses	155,929	133,383	290,341	246,061
Income from operations	64,828	55,021	132,801	145,300
Other expenses (income):
Interest expense	1,941	2,276	3,748	4,633
Loss (gain) on foreign currency	634	(746)	(270)	13
Interest and investment loss (income)	1,076	(1,977)	(1,944)	(7,359)
Other income	(74)	(7)	(37)	(48)
Nonoperating Income (Expense)	3,577	(454)	1,497	(2,761)
Income before income taxes	61,251	55,475	131,304	148,061
Income taxes	14,653	12,957	31,403	34,635
Net income	46,598	42,518	99,901	113,426
Less: Net income attributable to the noncontrolling interest	9,775	7,566	22,030	24,406
Net income attributable to Inter Parfums, Inc.	$ 36,823	$ 34,952	$ 77,871	$ 89,020
Net income attributable to Inter Parfums, Inc. common shareholders:
Basic	$ 1.15	$ 1.09	$ 2.43	$ 2.78
Diluted	$ 1.14	$ 1.09	$ 2.41	$ 2.77
Weighted average number of shares outstanding:
Basic	32,024	32,006	32,033	32,012
Diluted	32,266	32,162	32,266	32,161
Dividends declared per share	$ 0.75	$ 0.625	$ 1.5	$ 1.3

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Comprehensive income:
Net income	$ 46,598	$ 42,518	$ 99,901	$ 113,426
Other comprehensive income:
Net derivative instrument loss, net of tax	(216)	(77)	(1,172)	(4,243)
Transfer from OCI into earnings	(128)	0	(64)	1,709
Translation adjustments, net of tax	(5,912)	(454)	(20,494)	13,035
Comprehensive income	40,342	41,987	78,171	123,927
Comprehensive income attributable to the noncontrolling interests:
Net income	9,775	7,566	22,030	24,406
Net derivative instrument loss, net of tax	(94)	(21)	(322)	(227)
Translation adjustments, net of tax	(1,715)	(211)	(6,732)	3,411
Comprehensive income attributable to the noncontrolling interests	7,966	7,334	14,976	27,590
Comprehensive income attributable to Inter Parfums, Inc.	$ 32,376	$ 34,653	$ 63,195	$ 96,337

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Unaudited) - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Treasury Stock [Member]	Noncontrolling Interest [Member]	Total
Beginning Balance at Dec. 31, 2022	$ 32	$ 90,186	$ 620,095	$ (56,056)	$ (37,475)	$ 171,364
Shares issued upon exercise of stock options		5,191
Share-based (adjustment) compensation		624	593			97
Transfer of subsidiary shares purchased		(17)
Net income			89,020			24,406	$ 113,426
Dividends			(40,020)			(20,301)
Foreign currency translation adjustment, net of tax				9,624		3,411
Transfer from other comprehensive income into earnings				1,709		(17)
Net derivative instrument income (loss), net of tax				(4,016)		(227)
Shares repurchased					(11,289)
Ending Balance at Jun. 30, 2023	32	95,984	669,688	(48,739)	(48,764)	178,733	846,934
Beginning Balance at Mar. 31, 2023	32	95,429	654,440	(48,440)	(43,055)	191,201
Shares issued upon exercise of stock options		262
Share-based (adjustment) compensation		310	293			43
Transfer of subsidiary shares purchased		(17)				(17)
Net income			34,952			7,566	42,518
Dividends			(19,997)			(19,828)
Foreign currency translation adjustment, net of tax				(243)		(211)
Transfer from other comprehensive income into earnings				0
Net derivative instrument income (loss), net of tax				(56)		(21)
Shares repurchased					(5,709)
Ending Balance at Jun. 30, 2023	32	95,984	669,688	(48,739)	(48,764)	178,733	846,934
Beginning Balance at Dec. 31, 2023	32	98,565	693,848	(40,188)	(52,864)	192,777	892,170
Shares issued upon exercise of stock options		1,370
Share-based (adjustment) compensation		521	512			132
Transfer of subsidiary shares purchased		49				(49)
Net income			77,871			22,030	99,901
Dividends			(47,963)			(23,707)
Foreign currency translation adjustment, net of tax				(13,762)		(6,732)
Transfer from other comprehensive income into earnings				(64)
Net derivative instrument income (loss), net of tax				(850)		(322)
Shares repurchased					0
Ending Balance at Jun. 30, 2024	32	100,505	724,268	(54,864)	(52,864)	184,129	901,206
Beginning Balance at Mar. 31, 2024	32	100,309	711,043	(50,417)	(52,864)	199,784
Shares issued upon exercise of stock options		44
Share-based (adjustment) compensation		260	333			(22)
Transfer of subsidiary shares purchased		(108)				108
Net income			36,823			9,775	46,598
Dividends			(23,931)			(23,707)
Foreign currency translation adjustment, net of tax				(4,197)		(1,715)
Transfer from other comprehensive income into earnings				(128)
Net derivative instrument income (loss), net of tax				(122)		(94)
Shares repurchased					0
Ending Balance at Jun. 30, 2024	$ 32	$ 100,505	$ 724,268	$ (54,864)	$ (52,864)	$ 184,129	$ 901,206

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net income	$ 99,901	$ 113,426
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization	12,020	8,367
Provision for doubtful accounts	715	(650)
Noncash stock compensation	1,169	1,265
Share of income of equity investment	(70)	(48)
Noncash lease expense	3,006	2,620
Deferred tax provision	(2,721)	(2,987)
Change in fair value of derivatives	(299)	164
Changes in:
Accounts receivable	(59,603)	(35,181)
Inventories	(71,184)	(66,144)
Other assets	6,581	3,406
Operating lease liabilities	(2,873)	(2,579)
Accounts payable and accrued expenses	(12,664)	(23,425)
Income taxes, net	(437)	8,531
Net cash used in operating activities	(26,459)	6,765
Cash flows from investing activities:
Purchases of short-term investments	(80,879)	(97,079)
Proceeds from sale of short-term investments	134,078	138,061
Purchases of property, equipment and leasehold improvements	(2,122)	(3,202)
Payment for intangible assets acquired	(572)	(228)
Net cash provided by investing activities	50,505	37,552
Cash flows from financing activities:
Proceeds from loans payable, bank	14,244	4,947
Repayment of long-term debt	(15,956)	(15,958)
Proceeds from exercise of options	1,370	5,191
Dividends paid	(47,963)	(40,020)
Dividends paid to noncontrolling interest	(23,707)	(20,301)
Purchase of treasury stock	0	(11,289)
Net cash used in financing activities	(72,012)	(77,430)
Effect of exchange rate changes on cash	(1,523)	2,711
Net (decrease) increase in cash and cash equivalents	(49,489)	(30,402)
Cash and cash equivalents - beginning of period	88,462	104,713
Cash and cash equivalents - end of period	38,973	74,311
Cash paid for:
Interest	4,264	3,189
Income taxes	$ 32,937	$ 30,096

Significant Accounting Policies:

6 Months Ended

Jun. 30, 2024

Accounting Policies [Abstract]

Significant Accounting Policies:

Significant Accounting Policies:

Recent Agreements:

6 Months Ended

Jun. 30, 2024

Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]

Recent Agreements:

Recent Agreements

Van Cleef & Arpels

Abercrombie & Fitch

Roberto Cavalli

Lacoste

Dunhill

Rochas Fashion

Land and Building Acquisition - Headquarters in Paris

Recent Accounting Pronouncements:

6 Months Ended

Jun. 30, 2024

Accounting Changes and Error Corrections [Abstract]

Recent Accounting Pronouncements:

Recent Accounting Pronouncements:

There are no recent accounting pronouncements issued but not yet adopted that would have a material effect on our consolidated financial statements.

Inventories:

6 Months Ended

Jun. 30, 2024

Inventory Disclosure [Abstract]

Inventories:

Inventories:

Inventories consist of the following:

(In thousands)	June 30, 2024		December 31, 2023
Raw materials and component parts	$	174,887	$	158,733
Finished goods		258,829		213,126

	$	433,716	$	371,859

Fair Value Measurement:

6 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

Fair Value Measurement:

Fair Value Measurement:


			Fair Value Measurements at June 30, 2024
	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Short-term investments	$	37,735	$	8,821	$	28,914	$	—
Interest rate swaps		3,949		—		3,949		—

	$	41,684	$	8,821	$	32,863	$	—
Liabilities:
Foreign currency forward exchange contracts not accounted for using hedge accounting	$	70	$	—	$	70	$	—
Foreign currency forward exchange contracts accounted for using hedge accounting		48		—		48		—

	$	118	$	—	$	118	$	—


			Fair Value Measurements at December 31, 2023
	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Short-term investments	$	94,304	$	12,868	$	80,614	$	822
Interest rate swaps		3,909		—		3,909		—
Foreign currency forward exchange contracts not accounted for using hedge accounting		359		—		359		—
Foreign currency forward exchange contracts accounted for using hedge accounting		1,533		—		1,533		—

	$	100,105	$	12,868	$	86,415	$	822

Derivative Financial Instruments:

6 Months Ended

Jun. 30, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments:

Derivative Financial Instruments:

Leases:

6 Months Ended

Jun. 30, 2024

Leases [Abstract]

Leases:

7.	Leases:

Share-Based Payments:

6 Months Ended

Jun. 30, 2024

Equity:

Share-Based Payments:

8.	Share-Based Payments:

The following table sets forth information with respect to nonvested options for the six months ended June 30, 2024:

	Number of Shares			Weighted Average Grant-Date Fair Value
Nonvested options – beginning of period		122,100		$	24.47
Nonvested options granted		—			—
Nonvested options vested or forfeited		(3,200	)	$	11.90
Nonvested options – end of period		118,900		$	24.81

The following table summarizes stock option information as of June 30, 2024:

	Shares			Weighted Average Exercise Price

Outstanding at January 1, 2024		308,970		$	86.52
Options forfeited		(200	)		73.09
Options exercised		(19,620	)		69.81

Outstanding at June 30, 2024		289,150		$	87.66

Options exercisable		170,250		$	70.60
Options available for future grants		537,565

Cash proceeds, tax benefits and intrinsic value related to stock options exercised during the six months ended June 30, 2024 and 2023 were as follows:

(In thousands)	June 30, 2024		June 30, 2023

Cash proceeds from stock options exercised	$	1,370	$	5,192
Tax benefits		224		840
Intrinsic value of stock options exercised		1,409		5,773

There were no options granted during the six months ended June 30, 2024 and June 30, 2023.

All share purchases and issuances have been classified as equity transactions on the accompanying balance sheet.

Net Income Attributable to Inter Parfums, Inc. Common Shareholders:

6 Months Ended

Jun. 30, 2024

Earnings Per Share [Abstract]

Net Income Attributable to Inter Parfums, Inc. Common Shareholders:

Net Income Attributable to Inter Parfums, Inc. Common Shareholders:

The reconciliation between the numerators and denominators of the basic and diluted EPS computations is as follows:

	Three months ended				Six months ended
(In thousands)	June 30,				June 30,
	2024		2023		2024		2023
Numerator:
Net income attributable to Inter Parfums, Inc.	$	36,823	$	34,952	$	77,871	$	89,020
Denominator:
Weighted average shares		32,024		32,006		32,033		32,012
Effect of dilutive securities:
Stock options		242		156		233		149
Denominator for diluted earnings per share		32,266		32,162		32,266		32,161

Earnings per share:
Net income attributable to Inter
Parfums, Inc. common shareholders:
Basic	$	1.15	$	1.09	$	2.43	$	2.78
Diluted		1.14		1.09		2.41		2.77

Segment and Geographic Areas:

6 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

Segment and Geographic Areas:

10.

Segment and Geographic Areas:

Information on our operations by segments is as follows:

(In thousands)	Three Months Ended					Six Months Ended
	June 30,					June 30,
	2024			2023		2024			2023
Net sales:
United States	$	120,190		$	111,436	$	215,958		$	192,890
Europe		226,016			197,808		456,974			428,077
Eliminations of intercompany sales		(3,977	)		—		(6,740	)		—

	$	342,229		$	309,244	$	666,192		$	620,967

Net income attributable to Inter Parfums, Inc.:
United States	$	15,225		$	15,567	$	24,752		$	25,910
Europe		23,412			19,385		56,097			63,110
Eliminations		(1,814	)		—		(2,978	)		—
	$	36,823		$	34,952	$	77,871		$	89,020

Eliminations of intercompany sales relate to European based operations products sold to United States based operations.

	June 30,			December 31,
	2024			2023
Total Assets:
United States	$	360,665		$	344,341
Europe		1,018,978			1,066,684
Eliminations		(15,651	)		(41,696	)
	$	1,363,992		$	1,369,329

Insider Trading Arrangements	6 Months Ended
Insider Trading Arrangements	Jun. 30, 2024
Trading Arrangements, by Individual [Table]
Rule 10b5-1 Arrangement Adopted [Flag]	false
Non-Rule 10b5-1 Arrangement Adopted [Flag]	false
Rule 10b5-1 Arrangement Terminated [Flag]	false
Non-Rule 10b5-1 Arrangement Terminated [Flag]	false

Inventories: (Tables)

6 Months Ended

Jun. 30, 2024

Inventory Disclosure [Abstract]

Inventories consist of the following:

(In thousands)	June 30, 2024		December 31, 2023
Raw materials and component parts	$	174,887	$	158,733
Finished goods		258,829		213,126

	$	433,716	$	371,859

Fair Value Measurement: (Tables)

6 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

The fair value hierarchy has three levels based on the reliability of the inputs used to determine fair value.


			Fair Value Measurements at June 30, 2024
	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Short-term investments	$	37,735	$	8,821	$	28,914	$	—
Interest rate swaps		3,949		—		3,949		—

	$	41,684	$	8,821	$	32,863	$	—
Liabilities:
Foreign currency forward exchange contracts not accounted for using hedge accounting	$	70	$	—	$	70	$	—
Foreign currency forward exchange contracts accounted for using hedge accounting		48		—		48		—

	$	118	$	—	$	118	$	—


			Fair Value Measurements at December 31, 2023
	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Short-term investments	$	94,304	$	12,868	$	80,614	$	822
Interest rate swaps		3,909		—		3,909		—
Foreign currency forward exchange contracts not accounted for using hedge accounting		359		—		359		—
Foreign currency forward exchange contracts accounted for using hedge accounting		1,533		—		1,533		—

	$	100,105	$	12,868	$	86,415	$	822

Share-Based Payments: (Tables)

6 Months Ended

Jun. 30, 2024

Equity:

The following table sets forth information with respect to nonvested options for the three months ended March 31, 2024:

The following table sets forth information with respect to nonvested options for the six months ended June 30, 2024:

	Number of Shares			Weighted Average Grant-Date Fair Value
Nonvested options – beginning of period		122,100		$	24.47
Nonvested options granted		—			—
Nonvested options vested or forfeited		(3,200	)	$	11.90
Nonvested options – end of period		118,900		$	24.81

The following table summarizes stock option information as of March 31, 2024:

The following table summarizes stock option information as of June 30, 2024:

	Shares			Weighted Average Exercise Price

Outstanding at January 1, 2024		308,970		$	86.52
Options forfeited		(200	)		73.09
Options exercised		(19,620	)		69.81

Outstanding at June 30, 2024		289,150		$	87.66

Options exercisable		170,250		$	70.60
Options available for future grants		537,565

Cash proceeds, tax benefits and intrinsic value related to stock options exercised during the three months ended March 31, 2024 and 2023 were as follows:

Cash proceeds, tax benefits and intrinsic value related to stock options exercised during the six months ended June 30, 2024 and 2023 were as follows:

(In thousands)	June 30, 2024		June 30, 2023

Cash proceeds from stock options exercised	$	1,370	$	5,192
Tax benefits		224		840
Intrinsic value of stock options exercised		1,409		5,773

Net Income Attributable to Inter Parfums, Inc. Common Shareholders: (Tables)

6 Months Ended

Jun. 30, 2024

Earnings Per Share [Abstract]

The reconciliation between the numerators and denominators of the basic and diluted EPS computations is as follows:

	Three months ended				Six months ended
(In thousands)	June 30,				June 30,
	2024		2023		2024		2023
Numerator:
Net income attributable to Inter Parfums, Inc.	$	36,823	$	34,952	$	77,871	$	89,020
Denominator:
Weighted average shares		32,024		32,006		32,033		32,012
Effect of dilutive securities:
Stock options		242		156		233		149
Denominator for diluted earnings per share		32,266		32,162		32,266		32,161

Earnings per share:
Net income attributable to Inter
Parfums, Inc. common shareholders:
Basic	$	1.15	$	1.09	$	2.43	$	2.78
Diluted		1.14		1.09		2.41		2.77

Segment and Geographic Areas: (Tables)

6 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

Information on our operations by segments is as follows:

(In thousands)	Three Months Ended					Six Months Ended
	June 30,					June 30,
	2024			2023		2024			2023
Net sales:
United States	$	120,190		$	111,436	$	215,958		$	192,890
Europe		226,016			197,808		456,974			428,077
Eliminations of intercompany sales		(3,977	)		—		(6,740	)		—

	$	342,229		$	309,244	$	666,192		$	620,967

Net income attributable to Inter Parfums, Inc.:
United States	$	15,225		$	15,567	$	24,752		$	25,910
Europe		23,412			19,385		56,097			63,110
Eliminations		(1,814	)		—		(2,978	)		—
	$	36,823		$	34,952	$	77,871		$	89,020

Eliminations of intercompany sales relate to European based operations products sold to United States based operations.

	June 30,			December 31,
	2024			2023
Total Assets:
United States	$	360,665		$	344,341
Europe		1,018,978			1,066,684
Eliminations		(15,651	)		(41,696	)
	$	1,363,992		$	1,369,329

Recent Agreements: (Details Narrative) € in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2022 USD ($)	Mar. 31, 2021 USD ($)	Jun. 30, 2024 USD ($)	Jun. 30, 2024 EUR (€)	Jun. 30, 2024 EUR (€)	Mar. 31, 2022	Apr. 30, 2021 ft² Number
Business Acquisition [Line Items]
Purchase price, period cost			$ 149.0	€ 139
Acquisition costs, period cost \| $			$ 3.0
Long-term debt, term	4 years		10 years		10 years		10 years
Long-term line of credit			$ 128.5		€ 120
Description of debt instrument interest rate terms			one-month Euribor plus 0.75%	one-month Euribor plus 0.75%
Debt instrument, face amount \| €					€ 80
Variable interest rate			2.00%		2.00%
Fixed interest rate			1.10%		1.10%
Minimum [Member]
Business Acquisition [Line Items]
Depreciated over a range			7 years		7 years
Maximum [Member]
Business Acquisition [Line Items]
Depreciated over a range			50 years		50 years
Land [Member]
Business Acquisition [Line Items]
Purchase price, period cost			$ 61.3	€ 57
Building [Member]
Business Acquisition [Line Items]
Purchase price, period cost			$ 87.9	€ 82
Interparfums SA [Member]
Business Acquisition [Line Items]
Ownership percentage						72.00%	72.00%
Number of buildings \| Number							3
Number of inner courtyards \| Number							2
Area of Real Estate Property \| ft²							40,000
Van Cleef and Arpels [Member]
Business Acquisition [Line Items]
Description of recent agreement			In 2006, Van Cleef & Arpels and Interparfums SA signed a 12-year worldwide license agreement to manufacture and distribute perfumes and related products under the Van Cleef & Arpels brand name, which was subsequently extended for a further six years until December 31, 2024. Discussions have been underway since 2023 with a view to renewing the license agreement. The new agreement will strengthen the selective distribution of Van Cleef & Arpels fragrances worldwide. The license is to be renewed for an additional 9-year term, beginning January 1, 2025.	In 2006, Van Cleef & Arpels and Interparfums SA signed a 12-year worldwide license agreement to manufacture and distribute perfumes and related products under the Van Cleef & Arpels brand name, which was subsequently extended for a further six years until December 31, 2024. Discussions have been underway since 2023 with a view to renewing the license agreement. The new agreement will strengthen the selective distribution of Van Cleef & Arpels fragrances worldwide. The license is to be renewed for an additional 9-year term, beginning January 1, 2025.
Roberto Cavalli [Member]
Business Acquisition [Line Items]
Description of recent agreement			The license became effective in July 2023 and will last for 6.5 years.	The license became effective in July 2023 and will last for 6.5 years.
Lacoste Member
Business Acquisition [Line Items]
Description of recent agreement			The license became effective in January 2024 and will last for 15 years	The license became effective in January 2024 and will last for 15 years
Rochas Fashion [Member] \| Trademarks [Member]
Business Acquisition [Line Items]
Impairment of intangible assets \| $	$ 6.8	$ 2.4

Inventories consist of the following: (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Raw materials and component parts	$ 174,887	$ 158,733
Finished goods	258,829	213,126
Inventories	$ 433,716	$ 371,859

The fair value hierarchy has three levels based on the reliability of the inputs used to determine fair value. (Details) - Fair Value, Recurring [Member] - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Assets:
Short-term investments	$ 37,735	$ 94,304
Interest rate swaps	3,949	3,909
Foreign currency forward exchange contracts not accounted for using hedge accounting		359
Foreign currency forward exchange contracts accounted for using hedge accounting		1,533
Total assets at fair value	41,684	100,105
Liabilities:
Foreign currency forward exchange contracts not accounted for using hedge accounting	70
Foreign currency forward exchange contracts accounted for using hedge accounting	48
Total liabilities at fair value	118
Fair Value, Inputs, Level 1 [Member]
Assets:
Short-term investments	8,821	12,868
Interest rate swaps	0	0
Foreign currency forward exchange contracts not accounted for using hedge accounting		0
Foreign currency forward exchange contracts accounted for using hedge accounting		0
Total assets at fair value	8,821	12,868
Liabilities:
Foreign currency forward exchange contracts not accounted for using hedge accounting	0
Foreign currency forward exchange contracts accounted for using hedge accounting	0
Total liabilities at fair value	0
Fair Value, Inputs, Level 2 [Member]
Assets:
Short-term investments	28,914	80,614
Interest rate swaps	3,949	3,909
Foreign currency forward exchange contracts not accounted for using hedge accounting		359
Foreign currency forward exchange contracts accounted for using hedge accounting		1,533
Total assets at fair value	32,863	86,415
Liabilities:
Foreign currency forward exchange contracts not accounted for using hedge accounting	70
Foreign currency forward exchange contracts accounted for using hedge accounting	48
Total liabilities at fair value	118
Fair Value, Inputs, Level 3 [Member]
Assets:
Short-term investments	0	822
Interest rate swaps	0	0
Foreign currency forward exchange contracts not accounted for using hedge accounting		0
Foreign currency forward exchange contracts accounted for using hedge accounting		0
Total assets at fair value	0	$ 822
Liabilities:
Foreign currency forward exchange contracts not accounted for using hedge accounting	0
Foreign currency forward exchange contracts accounted for using hedge accounting	0
Total liabilities at fair value	$ 0

Derivative Financial Instruments: (Details Narrative) € in Millions, £ in Millions, $ in Millions	6 Months Ended
	Jun. 30, 2024 USD ($)	Jun. 30, 2024 GBP (£)	Jun. 30, 2024 EUR (€)	Dec. 31, 2022	Apr. 30, 2021 USD ($)	Apr. 30, 2021 EUR (€)
Derivative Instruments, Gain (Loss) [Line Items]
Loan amount	$ 53.5		€ 50		$ 128.5	€ 120
Long-term debt, term	10 years	10 years	10 years	4 years	10 years	10 years
Derivative swap interest rate	2.00%	2.00%	2.00%		1.10%	1.10%
Interest Rate Swap [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Loan amount \| €						€ 80
Foreign Exchange Contract [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Loan amount \| £		£ 11
Forward exchange contracts \| $	$ 48.0
Maturity of foreign currency	1 year

Leases: (Details Narrative) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Leases: (Details Narrative) - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Leases [Abstract]
Operating lease, weighted average remaining lease term	4 years 7 months 6 days		4 years 7 months 6 days
Operating lease, weighted average discount rate, percent	3.00%		3.00%
Operating leases, rent expense	$ 1.7	$ 1.5	$ 3.3	$ 2.9
Operating Lease, Payments			2.9	2.6
Noncash additions to operating lease assets			$ 0.8	$ 2.4

The following table sets forth information with respect to nonvested options for the six months ended June 30, 2024: (Details)	6 Months Ended
	Jun. 30, 2024 $ / shares shares
Equity:
Nonvested options - beginning of year \| shares	122,100
Weighted average grant date fair value, beginning of year \| $ / shares	$ 24.47
Nonvested options granted \| shares	0
Weighted average grant date fair value, granted \| $ / shares	$ 0
Nonvested options vested or forfeited \| shares	(3,200)
Weighted average grant date fair value, vested or forfeited \| $ / shares	$ 11.9
Nonvested options - end of year \| shares	118,900
Weighted average grant date fair value, end of year \| $ / shares	$ 24.81

The following table summarizes stock option information as of June 30, 2024: (Details)	6 Months Ended
	Jun. 30, 2024 $ / shares shares
Equity:
Options shares under option - beginning of year	308,970
Weighted average exercise price shares under option - beginning of year \| $ / shares	$ 86.52
Options forfeited	(200)
Weighted average exercise price options forfeited \| $ / shares	$ 73.09
Options exercised	(19,620)
Weighted average exercise price options exercised \| $ / shares	$ 69.81
Options shares under option - end of year	289,150
Weighted average exercise price shares under option - end of year \| $ / shares	$ 87.66
Options exercisable	170,250
Weighted average exercise price options exercisable \| $ / shares	$ 70.6
Options granted	537,565

Cash proceeds, tax benefits and intrinsic value related to stock options exercised during the six months ended June 30, 2024 and 2023 were as follows: (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Equity:
Cash proceeds from stock options exercised	$ 1,370	$ 5,192
Tax benefits	224	840
Intrinsic value of stock options exercised	$ 1,409	$ 5,773

Share-Based Payments: (Details Narrative) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Mar. 31, 2022	Apr. 30, 2021
Subsidiary or Equity Method Investee [Line Items]
Share-based payment expense	$ 580	$ 630	$ 1,169	$ 1,265
Share-based payment arrangement, expense	380	$ 430	$ 770	$ 860
Weighted average remaining contractual life of options outstanding (in years)			2 years 5 months 12 days
Weighted average remaining contractual life of options exercisable (in years)			1 year 2 months 12 days
Aggregate intrinsic value of options outstanding and options outstanding	9,700		$ 9,700
Aggregate intrinsic value of options outstanding and options exercisable	7,700		7,700
Unrecognized compensation cost	$ 2,000		$ 2,000
Options granted			0	0
Interparfums SA [Member]
Subsidiary or Equity Method Investee [Line Items]
Ownership percentage					72.00%	72.00%
Interparfums SA Subsidiary [Member]
Subsidiary or Equity Method Investee [Line Items]
Recognized as compensation cost			$ 4,200
Interparfums SA Subsidiary [Member] \| Employees [Member]
Subsidiary or Equity Method Investee [Line Items]
Number of share distributed			102,991
Recognized as compensation cost			$ 4,100
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized	96,371		96,371		88,400
Equity Option [Member]
Subsidiary or Equity Method Investee [Line Items]
Fair value of shares vested			$ 40	$ 100
Minimum [Member] \| Equity Option [Member]
Subsidiary or Equity Method Investee [Line Items]
Options vesting period			4 years
Maximum [Member] \| Equity Option [Member]
Subsidiary or Equity Method Investee [Line Items]
Options vesting period			5 years

The reconciliation between the numerators and denominators of the basic and diluted EPS computations is as follows: (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Earnings Per Share [Abstract]
Net income attributable to Inter Parfums, Inc (in dollars)	$ 36,823	$ 34,952	$ 77,871	$ 89,020
Weighted average shares	32,024	32,006	32,033	32,012
Stock options	242	156	233	149
Denominator for diluted earnings per share	32,266	32,162	32,266	32,161
Basic (in dollars per share)	$ 1.15	$ 1.09	$ 2.43	$ 2.78
Diluted (in dollars per share)	$ 1.14	$ 1.09	$ 2.41	$ 2.77
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	50,000.00	0	50,000.00	0

Information on our operations by segments is as follows: (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 342,229	$ 309,244	$ 666,192	$ 620,967
Net income attributable to Inter Parfums, Inc	36,823	34,952	77,871	89,020
Total assets	1,363,992		$ 1,363,992		$ 1,369,329
Number of Product Lines			1
Number of Operating Segments			2
UNITED STATES
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	120,190	111,436	$ 215,958	192,890
Net income attributable to Inter Parfums, Inc	15,225	15,567	24,752	25,910
Total assets	360,665		360,665		344,341
Europe [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	226,016	197,808	456,974	428,077
Net income attributable to Inter Parfums, Inc	23,412	19,385	56,097	63,110
Total assets	1,018,978		1,018,978		1,066,684
Eliminations [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	(3,977)	0	(6,740)	0
Net income attributable to Inter Parfums, Inc	(1,814)	$ 0	(2,978)	$ 0
Total assets	$ (15,651)		$ (15,651)		$ (41,696)

Interparfums (NASDAQ:IPAR)
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Interparfums (NASDAQ:IPAR)
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From Nov 2023 to Nov 2024

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