Inter Parfums: Great Growth Momentum, But Beware Of License Risk

Inter Parfums (NASDAQ:IPAR) markets and distributes fragrances under a wide range of licensed brands. The company doesn't own manufacturing facilities, but rather gets the needed components through third-party supplier contracts. The company divides its operations into European and US operations, as presented in the May 2024 investor presentation. Inter Parfums owns a 72% share of the European-based operations, which are listed as a separate entity on the Euronext Paris stock exchange under the ITP ticker. ...