Inter Parfums, Inc. (NASDAQ:IPAR) Q1 2024 Earnings Conference Call May 8, 2024 11:00 AM ET
Company Participants
Karin Daly - IR
Jean Madar - Chairman and CEO
Michel Atwood - CFO
Conference Call Participants
Linda Bolton-Weiser - D.A. Davidson
Korinne Wolfmeyer - Piper Sandler
Ashley Helgens - Jefferies
Hamed Khorsand - BWS Financial
Operator
Hello, and welcome to the Inter Parfums First Quarter 2024 Conference Call and Webcast. [Operator Instructions] As a reminder, this conference is being recorded.
It's now my pleasure to turn the conference over to Karin Daly, Vice President at the Equity Group and Inter Parfums Investor Relations Representative. Please go ahead, Karin.
Karin Daly
Thank you, Kevin. 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 headings Forward-Looking Statements and Risk Factors in their most recent annual report on Form 10-K. 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.
As a reminder, our consolidated results reflect two business segments, European-based operations and United States-based operations. Certain prestige fragrance products are produced and marketed by their European-based operations through their 72% owned French subsidiary, Inter Parfums S.A. When they refer to the U.S.-based operations, Inter Parfums is talking about their wholly owned subsidiaries.
It is now my pleasure to turn the call over to Jean Madar. Jean, you may begin.
Jean Madar
Thank you, Karin, and good morning, everyone, and thank you for joining today's call.
I have spent much of the last three months of the year traveling the world to meet with distributors, manufacturers, retailers, and boutiques, and the recurring message I hear is that the momentum in the fragrance market continues.
That holds true for our business, where strong sell-in and sellout as well as continued premiumization are gratifying facts. While sellout was excellent in the first quarter, even sometimes higher than sell-in, we are already seeing increased demand and sales acceleration starting in the second quarter as the month of April can attest to.