2024-02-04 10:35:00 ET
Summary
- Inter Parfums is a leading fragrance house that partners with prestige brands to develop, manufacture, market and distribute perfumes globally under licensing agreements.
- IPAR expects to generate long-term revenue growth in the 8-10% range.
- As investor comfort over long-term earnings power materializes, I believe IPAR will eventually trade back to its LT average P/E multiple of 30x as the quality of the business has only improved over the last 5 years.
The following segment was excerpted from this fund letter.
Inter Parfums ( IPAR ): The Fragrance Expert Behind Leading Perfume Brands
Summary Investment Thesis
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For further details see:
Headwaters Capital - Inter Parfums: A Business That Checks So Many Boxes