Interparfums reported a lower-than-expected rise in annual sales on Thursday, but said it was optimistic about its ability to achieve an operating margin of 20% for fiscal 2024.

The owner of the Jimmy Choo, Montblanc, Moncler and Karl Lagerfeld perfume brands posted annual sales of 880.5 million euros, up from 798.5 million euros the previous year, but below analysts' expectations of 889.0 million euros, according to the consensus provided by the group.

"In the context of ongoing expense control, particularly in marketing and advertising, the operating margin for fiscal 2024 could reach 20%," said Philippe Santi, Chief Operating Officer, in a press release.

Philippe Benacin, Chairman and CEO, also said that Interparfums' launch plan for 2025 pointed to "another year of growth in sales and earnings", according to the release.

(Written by Elena Smirnova, edited by Augustin Turpin)