Interparfums : Letter to shareholders 2021

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Message aux actionnaires

Dear friends,

After 2020 so heavily impacted by the health crisis, we were already anticipating a sharp rebound and a rather buoyant market in 2021.

However, we clearly did not expect to see such strong momentum in the different global markets in 2021 over the entire year.

And while sales overall were sustained in all markets, the US delivered an unprecedented performance with growth of nearly 40%. This strong upturn clearly contributed to the record sales now expected in 2021 of between €520m and €530m.

The strength of different markets is naturally a source of satisfaction. However, it is not the only reason for our brands' excellent results. This has notably been the case for our portfolio's top sellers, Montblanc, Jimmy Choo and Coach in particular, whose stellar performances helped us add market share and consolidate our positions. This achievement is even more noteworthy in the context of supply chain and sourcing difficulties that have impacted a number of business sectors. However, while rendering our task a little more complicated, our teams have remained fully focused on meeting these challenges.

Despite these trends, the year‑end was marked by the promising pre‑launch of the Moncler duo, setting the stage for solid growth prospects in 2022 with a target for annual sales of €560m-€570m. For these reasons, we are more than ever confident in the outlook for the upcoming years.

Best regards to all,

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Philippe Santi

Executive Vice President and CFO

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2021 letter to shareholders Interparfums  •

Coach

Coach fragrances, with sales of nearly €95m, registered record gains of 47% over 9 months, benefiting not only from the strength of the first Coach line but also from the launch, in 2020 and 2021, of several flankers developed around the second Coach Dreams line;

Coach Dreams Sunset stays true to the values

of the American luxury house. Taking us on a new road trip with friends, it is based on oriental and floral notes where dreams have no limits.

Rochas

After gaining 14% in the first nine months, Rochas perfumes are back on a positive track with nearly €26m in sales, boosted by the rollout in certain countries of its eco‑friendly fragrance line, Rochas Girl.

A Girl of the times! Since there is no "planet B" and the time has come to shake things up, Rochas is raising the bar for eco‑responsible fragrance with its new release. More than an ode to women, Girl conveys a promise to life and to the planet in its pretty almond‑green box.

Montblanc

With sales of nearly €114m, Montblanc fragrances ended the first nine months with revenue marginally outperforming the same period in 2019, the year in which the Montblanc Explorer line was launched, bolstered by the rollout of the Montblanc Explorer Ultra Blue line in April 2021;

Montblanc Explorer Ultra Blue is an invitation

to traverse the infinite wonders of this marvelous and magnificent world. But while ambition is one of Montblanc's most iconic values, so is respect.

Jimmy Choo

With the brand's established lines now back

to more normal levels and the successful launch of the I Want Choo line at the start of the year, Jimmy Choo fragrances was up by more than 30% from Q1 2019 with sales of more than €104m.

Joy meets good cheer in the new Jimmy Choo fragrance; just a few drops are enough to become totally addicted. Oh Jimmy, I Want Choo!

Lanvin

With more than €42m in sales, Lanvin fragrances returned to growth over the first nine months driven by a strong rebound in Asia and Eastern Europe.

Natural floral bouquets, modern creations building on tradition by offering a poetic rendering of the present: Fleurs de Lanvin.

Van Cleef & Arpels

Collection Extraordinaire Orchid Leather Named in honor of the precious orchid that produces the vanilla pod, Orchid Leather takes us on an imaginary journey.

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2021 letter to shareholders Interparfums  •