Inter Parfums, Inc. (NASDAQ:IPAR) Q1 2024 Earnings Call Transcript

Hamed Khorsand: Okay, so you’re not really seeing a consumer just buy the brand new fragrance, try it out, and then move on to the next one right now? That’s not what you’re seeing?

Michel Atwood: No.

Jean Madar: Not really. I think that they are more open to try new things, but we have pillars in our portfolio that have been in the portfolio for more than 10 years, and they still sell and they still go.

Hamed Khorsand: Okay, my last question was regarding your Ad spend. Are you doing anything different as far as the advertising particularly? Is it different strategy, other than the spending, are you using different avenues more online?

Jean Madar: Of course. Michel, you want to answer regarding the amount of digital spending?

Michel Atwood: Yes. I mean, overall, as you know, Ahmed, most of the advertising and promotion has shifted into the digital space. I mean, we typically – every brand has a different prospect and a different consumer, and we try to tailor that. But most of our advertising and promotion is in digital. And, we’ve just basically put in more GRPs and spent more dollars as opposed to spending on new avenues. Jean?

Jean Madar: Yes, absolutely. Nothing to add.

Hamed Khorsand: All right. I appreciate it. Thank you.

Jean Madar: Thank you.

Operator: Thank you. We reached the end of our question-and-answer session. I’d like to turn the floor back over to Michel for any further closing comments.

Michel Atwood: All right, well, thank you for joining our call today. Before I end the call, I would like to announce a few upcoming events. I will be both in Chicago and Milwaukee later this month with Piper Sandler, and Jean will be in Grasse with Jefferies at the end of the month. And in June, I will also be in Nantucket with the Jefferies at their annual consumer conference. If you’re interested in attending these events, please reach out to their respective sales representatives. If you have any additional questions, please contact Karin Daly from The Equity Group, our investor relations representative. Her telephone number and email address can be found on our most recent earnings release. We look forward to the next conference call, and thank you again, and have a great day.

Operator: Thank you. That does conclude today’s teleconference webcast. You may disconnect your line at this time and have a wonderful day. We thank you for your participation today.