Inter Parfums, Inc. (NASDAQ:IPAR) Q2 2023 Earnings Conference Call August 9, 2023 11:00 AM ET
Company Participants
Karin Daly - VP, Equity Group, IR
Jean Madar - Chairman and CEO
Michel Atwood - CFO
Conference Call Participants
Ashley Helgans - Jefferies
Korinne Wolfmeyer - Piper Sandler
Hamed Khorsand - BWS Financial
Linda Bolton-Weiser - D.A. Davidson
Operator
Greetings and welcome to the Inter Parfums 2023 Second Quarter Earnings Conference Call and Webcast. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. As a reminder, I'd like to remind you that this conference is being recorded.
At this time, I'd like to turn the call over to the Vice President at the Equity Group and Inter Parfums Investor Relations representative, Karin Daly.
Karin Daly
Thank you, Diego. Joining us on the call today will be Chairman and Chief Executive Officer, Jean Madar; and Chief Financial Officer, Michel Atwood. On behalf of the company, I would like to note that this conference call may contain forward-looking statements, which involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from projected results.
These factors may be found in the company's filings with the Securities and Exchange Commission under the heading Forward-Looking Statements and Risk Factors in our most recent annual report on Form 10-K and subsequent quarterly filings on Form 10-Q. Forward-looking statements speak only as of the date on which they are made and Inter Parfums undertakes no obligation to update the information discussed.
It's now my pleasure to turn the call over to Jean Madar. Jean, you may begin.
Jean Madar
Thank you, Karin. Good morning, everyone, and welcome to our second quarter conference call.
Most of us are already aware that the fragrance industry is booming and we are pleased to have seen a continuation of that momentum during the quarter. With our increasing market share, we continue to be optimistic in our upward trajectory. In fact, we continue to fire on all cylinders to meet the needs of our distributors and retailers to ensure that we not only attract, but also retain both the new and very experienced consumer.
On a consolidated basis, net sales increased 26% in the second quarter. This comes on top of a robust prior year period in which we had already experienced 18% growth. Beginning with our business by region, for the second quarter, our two largest regions, North America and Western Europe increased net sales 25% and 26% respectively.