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Item 9A. Controls and Procedures

2023-02-28 compared with 2022-03-01 · 1502 added, 1156 removed, 1224 unchanged (68% of the section changed)

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Evaluation of Disclosure Controls and Procedures

Our Chief Executive Officer and Chief Financial Officer have reviewed and evaluated the effectiveness of our disclosure controls and procedures (as defined in the Securities Exchange Act of 1934 Rule 13a-15(e)) as of the end of the period covered by this annual report on Form 10-K (the “Evaluation Date”).

Based on their review and evaluation, our Chief Executive Officer and Chief Financial Officer have concluded that as of the Evaluation Date, our Company’s disclosure controls and procedures were effective.

Management’s Annual Report on Internal Control over Financial Reporting

The management of Inter Parfums,

is responsible for establishing and maintaining adequate internal control over financial reporting as defined in Rule 13(a)-15(f)

Our Chief Executive Officer and Chief Financial

Officer have reviewed and evaluated the effectiveness of our disclosure controls and procedures (as defined in the Securities Exchange

Act of 1934 Rule 13a-15(e)) as of the end of the period covered by this annual report on Form 10-K (the “Evaluation Date”).

Based on their review and evaluation, our Chief Executive Officer and Chief Financial Officer have concluded that as of the Evaluation

Date, our Company’s disclosure controls and procedures were effective.

Management’s Annual Report on Internal Control over

Financial Reporting

The management of Inter Parfums, Inc.

responsible for establishing and maintaining adequate internal control over financial reporting as defined in Rule 13(a)-15(f)

under the Securities Exchange Act of 1934.

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financial reporting was effective as of December 31, 2022.

Our independent auditor, Mazars USA LLP, a registered public accounting firm, has issued its report on its audit of our internal control over financial reporting.

This report appears on page F-2.

Our independent auditor, Mazars USA LLP,

a registered public accounting firm, has issued its report on its audit of our internal control over financial reporting.

report appears on page F-2.

Changes in Internal Control Over Financial Reporting

There has been no change in our internal control over financial reporting (as defined in Rule 13a-15(f) of the Securities Exchange Act of 1934) that occurred during the fourth quarter of 2020 that has materially affected, or is reasonably likely to materially affect, the Company’s internal control over financial reporting.

There has been no change in our internal

control over financial reporting (as defined in Rule 13a-15(f) of the Securities Exchange Act of 1934) that occurred during the

fourth quarter of 2022 that has materially affected, or is reasonably likely to materially affect, the Company’s internal

control over financial reporting.

Other Information.

Directors, Executive Officers and Corporate Governance

Directors, Executive Officers

and Corporate Governance

Executive Officers and Directors

As of the date of this report, our executive officers and directors were as follows:

As of the date of this

report, our executive officers and directors were as follows:

Chairman of the Board, Chief Executive Officer of Inter Parfums, Inc.

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and Chief Executive Officer of Interparfums SA

Russell Greenberg

Director, Executive Vice President and Chief Financial Officer

Michel Atwood

Director and Chief Financial Officer

Philippe Santi

7 unchanged sentences

Executive Vice President and Chief Operating Officer of Interparfums SA

Our directors will serve until the next annual meeting of stockholders and thereafter until their successors shall have been elected and qualified.

Jean Madar and Philippe Benacin have a verbal agreement or understanding to vote their shares and the shares of their respective holding companies in a like manner.

With the exception of Mr.

Our directors will

serve until the next annual meeting of stockholders and thereafter until their successors shall have been elected and qualified.

Jean Madar and Philippe Benacin have a verbal agreement or understanding to vote their shares and the shares of their respective

holding companies in a like manner.

With the exception

Benacin, the officers are elected annually by the directors and serve at the discretion of the board of directors.

There are no family relationships between executive officers or directors of our Company.

are no family relationships between executive officers or directors of our Company.

Board of Directors

Our board of directors has the responsibility for establishing broad corporate policies and for the overall performance of our Company.

Although certain directors are not involved in day-to-day operating details, members of the board of directors are kept informed of our business by various reports and documents made available to them.

Our board of directors held 21 meetings (or executed consents in lieu thereof), including meetings of committees of the full board of directors during 2021, and all of the directors attended at least 75% of the meetings (or executed consents in lieu thereof) of the full board of directors and committees of which they were a member.

Our board of directors

has the responsibility for establishing broad corporate policies and for the overall performance of our Company.

Although certain

directors are not involved in day-to-day operating details, members of the board of directors are kept informed of our business

by various reports and documents made available to them.

Our board of directors held 18 meetings (or executed consents in lieu

thereof), including meetings of committees of the full board of directors during 2022, and all of the directors attended at least

75% of the meetings (or executed consents in lieu thereof) of the full board of directors and committees of which they were a member.

Our board of directors presently consists of ten (10) directors.

We have adopted a Code of Business Conduct that applies to our principal executive officer, principal financial officer, principal accounting officer or controller, as well as other persons performing similar functions, and we agree to provide to any person without charge, upon request, a copy of our Code of Business Conduct.

Any person who requests a copy of our Code of Business Conduct should provide their name and address in writing to:

We have adopted a Code

of Business Conduct that applies to our principal executive officer, principal financial officer, principal accounting officer

or controller, as well as other persons performing similar functions, and we agree to provide to any person without charge, upon

request, a copy of our Code of Business Conduct.

Any person who requests a copy of our Code of Business Conduct should provide

their name and address in writing to:

Inter Parfums, Inc., 551 Fifth Avenue, New York, NY 10176, Att.:

Shareholder Relations.

In addition, our Code of Conduct is also maintained on our website, at www.interparfumsinc.com.

During 2021, our board of directors had the following standing committees:

Audit Committee – The Audit Committee has the sole authority and is directly responsible for, the appointment, compensation and oversight of the work of the independent accountants employed by our company which prepare or issue audit reports for our company.

During 2021, this committee consisted of Messrs.

addition, our Code of Conduct is also maintained on our website, at www.interparfumsinc.com.

During 2022, our board of directors had

the following standing committees:

Audit Committee – The Audit Committee

has the sole authority and is directly responsible for, the appointment, compensation and oversight of the work of the independent

accountants employed by our company which prepare or issue audit reports for our company.

During 2022, this committee consisted

Heilbronn and Choël, and Ms.

Gabai-Pinsky.

The charter of the Audit Committee is posted on our company’s website.

The Company does not have an “audit committee financial expert” within the definition of the applicable Securities and Exchange Commission rules.

Finding qualified nominees to serve as a director of a public company without substantial financial resources has been challenging.

In addition, despite the applicable Securities and Exchange Commission rule which states that being named as the audit committee financial expert does not impose any greater duty, obligation or liability, our company has been met with resistance from both present and former directors to being named as such, primarily due to potential additional personal liability.

However, as the result of the background, education and experience of the members of the Audit Committee, our board of directors believes that such committee members are fully qualified to fulfill their obligations as members of the Audit Committee.

Executive Compensation and Stock Option Committee – The Executive Compensation and Stock Option Committee oversees the compensation of our company’s executives and administers our company’s stock option plans.

The charter of the Audit Committee is posted on our Company’s

The Company does not

have an “audit committee financial expert” within the definition of the applicable Securities and Exchange Commission

Finding qualified nominees to serve as a director of a public company without the comparable financial resources of other

larger, more established companies has been challenging.

In addition, despite the applicable Securities and Exchange Commission

rule which states that being named as the audit committee financial expert does not impose any greater duty, obligation or liability,

our company has been met with resistance from both present and former directors to being named as such, primarily due to potential

additional personal liability.

However, as the result of the background, education and experience of the members of the Audit Committee,

our board of directors believes that such committee members are fully qualified to fulfill their obligations as members of the

Audit Committee.

The Chair of the Audit Committee, Mr.

François Heilbronn, is a graduate of Harvard Business School with

a Master of Business Administration degree and is currently the managing partner of the consulting firm of M.M.

Friedrich, Heilbronn & Fiszer which is specialized in business strategy and complex financial operations and investments.

Executive Compensation and Stock Option

Committee – The Executive Compensation and Stock Option Committee oversees the compensation of our Company’s executives

and administers our company’s stock option plans.

During 2022, this committee consisted of Messrs.

Heilbronn and Choël, and Ms.

Heilbronn and Choël,

Gabai-Pinsky.

The charter of the Executive Compensation and Stock Option Committee is posted on our company’s website.

Nominating Committee – During 2021, this committee consisted of Messrs.

The charter of the Executive Compensation and Stock Option Committee is posted on our company’s

Nominating Committee – During 2022,

this committee consisted of Messrs.

Heilbronn and Choël, and Ms.

Gabai-Pinsky.

The purpose of the Nominating Committee is to determine and recommend qualified persons to the Board of Directors who will be put forth as management’s slate of directors for vote of the Corporation’s stockholders, as well as to fill vacancies in the Board of Directors.

The charter of the Nominating Committee is posted on our company’s website.

We have adopted a board diversity policy, which provides that the selection of candidates for appointment to our board will be based on an overriding emphasis on merit, but the Nominating Committee will seek to fill board vacancies by considering candidates that bring a diversity of background and industry or related expertise to our board.

The Nominating Committee is to consider an appropriate level of diversity having regard for factors such as skills, business and other experience, education, gender, age, ethnicity and geographic location.

A copy of the board diversity policy is posted on our company’s website.

In addition, Nasdaq has adopted a Board Diversity Rule, which will require Nasdaq listed companies to publicly disclose board-level diversity statistics using a standardized template commencing on the later of August 8, 2022 or the date the filing of a listed company’s proxy statement for its 2022 annual meeting.

In addition, in the following year, we will be required to disclose whether or not we have one director that is diverse under the applicable Nasdaq rule, and if not, then why not.

By the 2025 annual meeting, we will be required to disclose whether or not we have two directors that are diverse under the applicable Nasdaq rule, and if not, then why not.

We do not foresee any issue in complying with Nasdaq Board Diversity Rule at this time.

The purpose of the Nominating Committee

is to determine and recommend qualified persons to the Board of Directors who will be put forth as management’s slate

of directors for vote of the Corporation’s stockholders, as well as to fill vacancies in the Board of Directors.

charter of the Nominating Committee is posted on our Company’s website.

We have adopted a board

diversity policy, which provides that the selection of candidates for appointment to our board will be based on an overriding emphasis

on merit, but the Nominating Committee will seek to fill board vacancies by considering candidates that bring a diversity of background

and industry or related expertise to our board.

The Nominating Committee is to consider an appropriate level of diversity having

regard for factors such as skills, business and other experience, education, gender, age, ethnicity and geographic location.

copy of the board diversity policy is posted on our company’s website.

In addition, Nasdaq has adopted a Board Diversity

Rule, which requires Nasdaq listed companies to publicly disclose board-level diversity statistics using a standardized template

By the 2025 annual meeting, we will be required to disclose whether or not we have two directors that are diverse

under the applicable Nasdaq rule, and if not, then why not.

We do not foresee any issue in complying with Nasdaq Board Diversity

Rule at this time.

Nasdaq Board Diversity

As required by the the Nasdaq Diversity

Rule, the board of directors of our company presently has one (1) member who self-identifies as a female and one (1) member who

identifies as Hispanic, which is in compliance with the Nasdaq Board Diversity rule.

Below is the Nasdaq Board Diversity Matrix,

which shows the gender identity and demographic background of our board of directors as they have self-identified.

Board Diversity Matrix for INTER PARFUMS INC.

As of February 28, 2023

Total Number of Directors

Gender Identity

Did Not Disclose Gender

Demographic Background

African American or Black

Alaskan Native or American Indian

Hispanic or Latinx

Native Hawaiian or Pacific Islander

Two or More Races or Ethnicities

Did Not Disclose Demographic Background

Business Experience

The following sets forth biographical information as to the business experience of each executive officer and director of our company for at least the past five years.

Jean Madar, age 61, a Director, has been the Chairman of the Board since our company’s inception, and is a co-founder of our company with Mr.

The following sets

forth biographical information as to the business experience of each executive officer and director of our company for at least

the past five years.

Jean Madar, age

62, a Director, has been the Chairman of the Board since our Company’s inception, and is a co-founder of our Company with

Philippe Benacin.

From inception until December 1993 he was the President of our Company;

in January 1994, he became Director General of Interparfums SA, our company’s subsidiary;

in January 1994, he became Director

General of Interparfums SA, our Company’s subsidiary;

and in January 1997, he became Chief Executive Officer of our Company.

Madar was previously the managing director of Interparfums SA, from September 1983 until June 1985.

At such subsidiary, he had the responsibility of overseeing the marketing operations of its foreign distribution, including market research analysis and actual marketing campaigns.

At such subsidiary, he

had the responsibility of overseeing the marketing operations of its foreign distribution, including market research analysis

and actual marketing campaigns.

Madar graduated from The French University for Economic and Commercial Sciences (ESSEC) in

We believe that Mr.

Madar’s skills in guiding, leading and determining the strategic direction of our company since its inception together with Mr.

Benacin, in addition to his contacts in the fragrance and cosmetic industry, render him qualified to serve as a member of our board of directors.

Madar’s skills in guiding, leading and determining the strategic direction of our company since

its inception together with Mr.

Benacin, in addition to his contacts in the fragrance and cosmetic industry, render him qualified

to serve as a member of our board of directors.

Philippe Benacin

Benacin, age 63, a Director, is President of our Company and the Chief Executive Officer of Interparfums SA, has been the Vice Chairman of the Board since September 1991, and is a co-founder of our company with Mr.

He was elected the Executive Vice President in September 1991, Senior Vice President in April 1993, and President of the Company in January 1994.

In addition, he has been the President of our Company and Chief Executive Officer of Interparfums SA for more than the past five years.

Benacin graduated from The French University for Economic and Commercial Sciences (ESSEC) in 1983.

64, a Director, is President of our Company and the Chief Executive Officer of Interparfums SA, has been the Vice Chairman of

the Board since September 1991, and is a co-founder of our Company with Mr.

He was elected the Executive Vice President

in September 1991, Senior Vice President in April 1993, and President of the Company in January 1994.

In addition, he has been

the President of our Company and Chief Executive Officer of Interparfums SA for more than the past five years.

Benacin graduated

from The French University for Economic and Commercial Sciences (ESSEC) in 1983.

In June 2014 Mr.

Benacin was elected as a member of the Supervisory Board of Vivendi, and Chairman of its Corporate Governance, Nominations and Remuneration Committee.

We believe that Mr.

Benacin’s skills in guiding, leading and determining the strategic direction of our company since its inception together with Mr.

Madar, in addition to his contacts in the fragrance and cosmetic industry, render him qualified to serve as a member of our board of directors.

Russell Greenberg

Greenberg, age 65, the Chief Financial Officer, was Vice-President, Finance when he joined the Company in June 1992;

became Executive Vice President in April 1993;

and was appointed to our board of directors in February 1995.

He is a certified public accountant licensed in the State of New York, and is a member of the American Institute of Certified Public Accountants and the New York State Society of Certified Public Accountants.

After graduating from The Ohio State University in 1980, he was employed in public accounting until he joined our company in June 1992.

Benacin was elected as a member

of the Supervisory Board of Vivendi, and Chairman of its Corporate Governance, Nominations and Remuneration Committee.

Benacin’s skills in guiding, leading and determining the strategic direction of our company since its inception

together with Mr.

Madar, in addition to his contacts in the fragrance and cosmetic industry, render him qualified to serve as

a member of our board of directors.

Michel Atwood

Atwood, age 53, became our Chief

Financial Officer on September 6, 2022, succeeding Mr.

Russell Greenberg, the former Chief Financial Officer, who retired on that

Atwood was first elected to our Board of Directors at the 2022 Annual Meeting held in September 2022.

From September

2018 through March 2022 while at Estée Lauder, Mr.

Atwood had strategic oversight for the fragrance category across that

company and operational accountability for several of its fragrance brands.

He also had senior level merger and acquisition (“M&A”)

duties, including acquisition integration and brand divestitures/discontinuations.

Over his nearly four years at Estée

Lauder, he also drove cross-brand synergies across research and development and supply chain for the fragrance category.

February 2017 to August 2018, he was an independent consultant as an M&A advisor on multiple fragrance license acquisitions

and also acted as a private investor.

From 1995 to 2017,

Atwood has held several executive positions at Procter & Gamble (“P&G”) in France, Switzerland, Italy and

His final title at P&G was Divisional CFO of Global Prestige Fragrances, leading a 90 member team, and ultimately

spearheading the divestiture of that division to Coty.

Earlier he was CFO Global Markets – Prestige Fragrances, a business

generating over $2 billion in sales, where he headed a globally dispersed team of 60 people supporting the go-to-market organization

(affiliates, Travel Retail and distributors) of the Prestige Division.

Before that, he was Global Prestige Director of Strategic

Planning, Licensing and Acquisition shaping and executing the overall business direction and licensing and acquisition strategy

of P&G’s Global Fragrance and Premium skin and cosmetics businesses.

Michel Atwood holds

a Master’s degree in Software Engineering from the Institut National des Sciences Appliquées of Lyon, and a Master’s

in International Finance from HEC Paris, the prestigious French business school.

He also earned the designation of Certified Management

Accountant from the Institute of Management Accountants.

He has a truly international background, working/living in France, Switzerland,

the U.S., Canada, Turkey and Italy.

We believe that Mr.

Greenberg’s skills in accounting and tax, as well as his knowledge of the fragrance industry and our Company’s operations, render him qualified to serve as a member of our board of directors.

Atwood’s skills and experience in accounting, international tax,

mergers and acquisitions, as well as his knowledge of the fragrance industry, render him qualified to serve as a member of our

board of directors.

Philippe Santi

Philippe Santi, age 59, and a Director since December 1999, is the Executive Vice President and Chief Financial Officer of Interparfums SA.

Santi, who is a Certified Accountant and Statutory Auditor in France, has been the Chief Financial Officer of Interparfums SA since February 1995.

Philippe Santi, age

61, and a Director since December 1999, is the Executive Vice President and Chief Financial Officer of Interparfums SA.

who is a Certified Accountant and Statutory Auditor in France, has been the Chief Financial Officer of Interparfums SA since February

Prior to February 1995, Mr.

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We believe that Mr.

Santi’s skills in accounting and tax, as well as his knowledge of the fragrance industry and our Company’s European operations, render him qualified to serve as a member of our board of directors.

Santi’s skills in accounting and tax, as well as his knowledge of the fragrance industry and our Company’s

European operations, render him qualified to serve as a member of our board of directors.

Francois Heilbronn

Heilbronn, age 60, a Director since 1988, an independent director and a member of the Audit Committee, Nominating Committee and the Executive Compensation and Stock Option Committee, is a graduate of Harvard Business School with a Master of Business Administration degree and is currently the managing partner of the consulting firm of M.M.

Heilbronn, age

61, a Director since 1988, an independent director and a member of the Audit Committee, Nominating Committee and the Executive

Compensation and Stock Option Committee, is a graduate of Harvard Business School with a Master of Business Administration degree

and is currently the managing partner of the consulting firm of M.M.

Friedrich, Heilbronn & Fiszer.

He was formerly employed by The Boston Consulting Group, Inc.

He was formerly employed

by The Boston Consulting Group, Inc.

from 1988 through 1992 as a manager.

Heilbronn graduated from Institut d’ Etudes Politiques de Paris in June 1983.

Heilbronn graduated from Institut d’ Etudes

Politiques de Paris in June 1983.

From 1984 to 1986, he worked as a financial analyst for Lazard Freres & Co.

In addition, during 2009, Mr.

during 2009, Mr.

Heilbronn became an Associate Professor in Business Strategy at Sciences Po, Paris, France.

As the result of his business and financial acumen, as well as his experience as managing partner of a business consulting firm in the area of mergers and acquisitions of large international companies in retail, consumer goods and consumer services throughout the world, we believe Mr.

As the result of his

business and financial acumen, as well as his experience as managing partner of a business consulting firm in the area of mergers

and acquisitions of large international companies in retail, consumer goods and consumer services throughout the world, we believe

Heilbronn is qualified to serve as a member of our board of directors.

Robert Bensoussan

Robert Bensoussan, age 63, has been a Director since March 1997, and is also an independent director.

Bensoussan is the founder of Sirius Equity Consultants, a retail and branded luxury goods Investment Company.

Bensoussan remains as an investor in C.A.R.O.L, the AI driven fitness equipment, Hapy Sweet Bee Ltd, natural health food products, Eaglemoss Ltd, UK part-works publisher and Patchwork, a Parisian co-working company.

He was previously Chairman of Camaïeu, the French retail conglomerate, a board member of Celio International, the French retail conglomerate and Vivarte representing the GLG hedge fund.

Robert Bensoussan,

age 65, has been a Director since March 1997, and is also an independent director.

Bensoussan is the founder of Sirius Equity

Consultants, a retail and branded luxury goods investment company.

Bensoussan remains as an investor in Hapy Sweet

Bee Ltd, natural health food products,

He was previously

Chairman of Camaïeu, the French retail conglomerate, a board member of Celio International, the French retail conglomerate

and Vivarte representing the GLG hedge fund.

In the latter part of 2019, Mr.

Bensoussan resigned after 6 years as the only non-North American board member of lululemon athletica Inc.

Bensoussan resigned after 6 years as the only non-North

American board member of lululemon athletica Inc.

Following the successful sale in 2021, Mr.

Bensoussan stepped down from the board of Feelunique.com one of Europe’s largest online beauty retailer’s after serving 9 years.

He is also a member of the Advisory Board of Pictet Bank Premium Brands Fund and sits on the board of Pronovias, the worldwide leader of wedding dresses owned by BC Partners, Yonderland, Europe’s largest premium outdoor retailer, SNS, a prominent aspirational streetwear and entertainment hub and Internet Fusion Group, a leading e-commerce site for niche lifestyle products.

Bensoussan stepped down from the

board of Feelunique.com, one of Europe’s largest online beauty retailers after serving 9 years.

He is a member of the

Advisory Board of Pictet Bank Premium Brands Fund and sits on the board of Pronovias, the worldwide leader of wedding dresses.

Yonderland, Europe’s largest premium outdoor retailer and SNS, a prominent aspirational streetwear and entertainment hub.

Previously Mr.

Bensoussan was as director of, and had an indirect ownership interest J.

Choo Limited until July 2011, and was CEO from 2001 to 2007, and was a member of the Board of Jimmy Choo Ltd, a privately held luxury shoe wholesaler and retailer, from 2001 to 2011.

Bensoussan was as director of, and had an indirect ownership interest in, J.

Choo Limited until July 2011, and was CEO from 2001

to 2007, and was a member of the Board of Jimmy Choo Ltd, from 2001 to 2011, which had been a privately held luxury shoe wholesaler

and retailer.

We believe Mr.

Bensoussan is qualified to serve as a member of our board of directors due to his business and financial acumen, as well as his experience in the retail and branded luxury goods market.

is qualified to serve as a member of our board of directors due to his business and financial acumen, as well as his experience

in the retail and branded luxury goods market.

Patrick Choël

Choël, age 78, was appointed to the board of directors in June 2006 as an independent director, and is a member of the Audit Committee, Nominating Committee and the Executive Compensation and Stock Option Committee.

Choël is a director of our majority-owned subsidiary, Interparfums SA, a publicly held company, and Christian Dior and Guerlain, both privately held companies.

He is also the manager of Université 82, a business consultant and advisor.

For approximately 10 years, through March 2004, Mr.

Choël was the President and CEO of two divisions of LVMH Moet Hennessy Louis Vuitton S.A., first Parfums Christian Dior, a leading world-wide prestige beauty/fragrances business, and later, the LVMH Perfumes and Cosmetics Division, which included such well-known brands as Parfums Christian Dior, Guerlain, and Parfums Givenchy, among others.

Prior to such time, for approximately 30 years, he held various executive positions at Unilever, including President and CEO of Elida Fabergé France and President and CEO of Chesebrough Pond’s USA.

Because of this experience, especially in the prestige beauty business, we believe that Mr.

age 79, was appointed to the board of directors in June 2006 as an independent director, and is a member of the Audit Committee,

Nominating Committee and the Executive Compensation and Stock Option Committee.

Choël is a director of our majority-owned

subsidiary, Interparfums SA, a publicly held company, and Christian Dior a privately held company.

For approximately 10 years,

through March 2004, Mr.

Choël was the President and CEO of two divisions of LVMH Moet Hennessy Louis Vuitton S.A., first

Parfums Christian Dior, a leading world-wide prestige beauty/fragrances business, and later, the LVMH Perfumes and Cosmetics Division,

which included such well-known brands as Parfums Christian Dior, Guerlain, and Parfums Givenchy, among others.

Prior to such time,

for approximately 30 years, he held various executive positions at Unilever, including President and CEO of Elida Fabergé

France and President and CEO of Chesebrough Pond’s USA.

Because of this experience, especially in the prestige beauty business,

we believe that Mr.

Choël is qualified to serve as a member of our board of directors.

Michel Dyens, age 81 and an independent director, is the Founder, Chairman and Chief Executive Officer of Michel Dyens & Co., which he founded over 25 years ago.

Michel Dyens, age 82

and an independent director, is the Founder, Chairman and Chief Executive Officer of Michel Dyens & Co., which he founded over

25 years ago.

With headquarters in New York and Paris, Michel Dyens & Co.

is a leading independent investment banking firm focused on mergers and acquisitions.

Michel Dyens & Co.

has vast experience in luxury goods, beauty, spirits and other premium branded consumer goods in which it has concluded numerous landmark deals.

is a leading independent investment banking firm

focused on mergers and acquisitions.

Michel Dyens & Co.

has advised in such deals as the sale of the Grey Goose ultra-premium vodka brand to Bacardi, the acquisition of the luxury Swiss watchmaker Hublot by LVMH, the sale of the Harry Winston to Aber Diamond Corporation and Boucheron to Kering.

has vast experience in luxury goods, beauty, spirits and other premium

branded consumer goods in which it has concluded numerous landmark deals.

Michel Dyens & Co.

represented the owners of Liaigre, the luxury furniture brand, in the sale to Symphony International and Navis Capital, and Casa Dragones, the ultra-premium tequila, in the sale to BDT Partners (Byron Trott).

has advised in such deals as the

sale of the Grey Goose ultra-premium vodka brand to Bacardi, the acquisition of the luxury Swiss watchmaker Hublot by LVMH, the

sale of the Harry Winston to Aber Diamond Corporation and Boucheron to Kering.

Michel Dyens & Co.

recently represented the owners of Buly, the luxury French fragrance and beauty brand, in the sale to LVMH and the owners of Blissim, the French leader in beauty subscription e-commerce, and online beauty retail for an investment by Raise Investissement.

represented the owners of

Liaigre, the luxury furniture brand, in the sale to Symphony International and Navis Capital, and Casa Dragones, the ultra-premium

tequila, in the sale to BDT Partners (Byron Trott).

In 2021, Michel

represented the owners of Buly, the luxury French fragrance and beauty brand, in the sale to LVMH and the owners

of Blissim, the French leader in beauty subscription e-commerce, and online beauty retail for an investment by Raise Investissement.

In addition, he has just sold We11done, the Korean contemporary fashion and lifestyle brand, to Sequoia Capital.

Michel Dyens & Co.

was the exclusive advisor to Creed in the sale of the ultra-luxury fragrance company Creed BlackRock Long Term Private Capital, and represented Mr.

ChinWook Lee, the founder and CEO of Dr.

was the exclusive advisor to Creed in the sale of the ultra-luxury fragrance company Creed BlackRock Long Term

Private Capital, and represented Mr.

Chin Wook Lee, the founder and CEO of Dr.

Jart+, in the sale of Have & Be Co.

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Michel Dyens & Co.

also advised the owner of the ultra-luxury fragrance brand By Kilian, in the sale to Estée Lauder.

also advised the owner of the ultra-luxury fragrance brand By

Kilian, in the sale to Estée Lauder.

Michel Dyens & Co.

advised the shareholders of the largest independent hair color and hair care company in Brazil, Niely Cosmeticos in the sale of the company to L’Oréal, as well as the owner of the super-premium liqueur St-Germain in the sale of the brand to Bacardi, the Colomer Group (American Crew and CND/Shellac brands) in its sale to Revlon, and Sidney Frank Importing Company in the sale of the company to Jaegermeister.

Other transactions include the sale of the Essie cosmetics business to L’Oréal, the sale of TIGI (BedHead and Catwalk brands) to Unilever, the luxury hair care brand Christophe Robin to The Hut Group, the thinning hair brand NIOXIN Research Laboratories to Procter & Gamble, John Frieda Professional Hair Care and Molton Brown to the Kao Corporation, the Svedka vodka brand to Constellation Brands and Chambord liqueur to Brown-Forman.

In the mission-driven field, Michel Dyens & Co.

recently represented ClimateCare, a prominent UK carbon-offset business, in the sale to Averna Capital and represented the founders of Caboo Paper Products a Vancouver, Canada-based tree-free household paper products brand, for an investment by sustainability-focused venture capital firm Renewal Funds.

advised the shareholders of the largest independent hair

color and hair care company in Brazil, Niely Cosmeticos in the sale of the company to L’Oréal, as well as the

owner of the super-premium liqueur St-Germain in the sale of the brand to Bacardi, the Colomer Group (American Crew and

CND/Shellac brands) in its sale to Revlon, and Sidney Frank Importing Company in the sale of the company to Jaegermeister.

Other transactions include the sale of the Essie cosmetics business to L’Oréal, the sale of TIGI (BedHead and

Catwalk brands) to Unilever, the luxury hair care brand Christophe Robin to The Hut Group, the thinning hair brand NIOXIN

Research Laboratories to Procter & Gamble, John Frieda Professional Hair Care and Molton Brown to the Kao Corporation,

the Svedka vodka brand to Constellation Brands and Chambord liqueur to Brown-Forman.

In the mission-driven

field, Michel Dyens & Co.

recently represented ClimateCare, a prominent UK carbon-offset business, in the sale to Averna Capital

and represented the founders of Caboo Paper Products a Vancouver, Canada-based tree-free household paper products brand, for an

investment by sustainability-focused venture capital firm Renewal Funds.

Among other recent transactions, Michel Dyens & Co.

recently represented the Fairtrade and organic coffee brand Ethical Bean Coffee in the sale to Kraft Heinz, and as well as Alter Eco Americas, a leading organic chocolate brand, which we sold to NextWorld Evergreen.

In healthy and premium food, Michel Dyens & Co.

represented the Fairtrade and organic coffee brand Ethical Bean Coffee in the sale to Kraft Heinz, and as well as Alter Eco Americas, a leading organic chocolate brand, which it sold to NextWorld Evergreen.

From April 2004 to September 2014, Mr.

recently represented the Fairtrade and organic coffee brand Ethical Bean Coffee in the sale to Kraft Heinz, and as well as Alter

Eco Americas, a leading organic chocolate brand, which we sold to NextWorld Evergreen.

In healthy and premium

food, Michel Dyens & Co.

represented the Fairtrade and organic coffee brand Ethical Bean Coffee in the sale to Kraft Heinz,

and as well as Alter Eco Americas, a leading organic chocolate brand, which it sold to NextWorld Evergreen.

From April 2004

to September 2014, Mr.

Dyens was an independent director of Interparfums SA.

We believe Mr.

Dyens is qualified to serve as a member of our board of directors thanks to his knowledge of our company’s luxury business, his business and financial acumen, as well as his experience in the luxury goods market.

Dyens is qualified to serve as a member

of our board of directors thanks to his knowledge of our Company’s luxury business, his business and financial acumen, as

well as his experience in the luxury goods market.

Veronique Gabai-Pinsky

Gabai-Pinsky, age 56, was elected for the first time to our board in September 2017.

Gabai-Pinsky,

age 57, was elected for the first time to our board in September 2017.

She became a director of Interparfums SA in April 2017.

She is currently operating a startup specialty fragrance business, and a director of Lifetime Brands (Nasdaq:

LCUT), which is in the home goods business.

She was President of Vera Wang Group from January 2016 through June 2018, after a year of consulting with the company and she oversaw all product categories and markets.

LCUT), which is

in the home goods business.

She was President of Vera Wang Group from January 2016 through June 2018, after a year of consulting

with the company and she oversaw all product categories and markets.

Prior to joining Vera Wang, from 2006 to December 2014, Ms.

Gabai-Pinsky was the Global President for Aramis and Designers Fragrances as well as Beauty Bank and Idea Bank at The Estée Lauder Companies, reporting to the Chief Executive Officer of such company.

Gabai-Pinsky was the Global President for Aramis and Designers Fragrances as well as Beauty Bank and Idea Bank at The Estée

Lauder Companies, reporting to the Chief Executive Officer of such company.

During her tenure, Ms.

Gabai-Pinsky developed and ensured the growth of several beauty and skin care brands, including Lab Series for Men.

She was highly instrumental in the evolution of the fragrance category for such company, as she improved its overall business model, globally grew brands such as Donna Karan and Michael Kors, evolved and harmonized the portfolio, divested dilutive brands and brought in Tory Burch, Zegna and Marni under licenses.

She ultimately actively participated in the acquisitions of Le Labo, Frederic Malle, and By Kilian and assisted in the transformation of the long-term strategic direction of such company.

In the earlier years of her career, Ms.

Gabai-Pinsky served as Vice President of Marketing and Communication for Guerlain, a division of LVMH Moet Hennessy Louis Vuitton S.A., where she led the successful re-launch of Shalimar, the introduction of Aqua Allegoria, and contributed to the re-focus of the beauty category around its pillars, Terracotta, Meteorites and Issima, while redesigning all communication strategies and content.

She started her career at L’Oréal, and was also Vice President of Marketing for Giorgio Armani, where she was instrumental in the overall development of its fragrance business by developing the successful Acqua di Gio for men and introducing the Emporio Armani franchise.

A graduate from ESSEC Business School in Paris, France, she has received several awards, including Marketer of the Year by Women’s Wear Daily in December 2013.

Gabai-Pinksy is an independent director, and is a member of the Audit Committee, Executive Compensation and Stock Option Committee and the Nominating Committee of our company.

Gabai-Pinsky developed and

ensured the growth of several beauty and skin care brands, including Lab Series for Men.

She was highly instrumental in the evolution

of the fragrance category for such company, as she improved its overall business model, globally grew brands such as Donna Karan

and Michael Kors, evolved and harmonized the portfolio, divested dilutive brands and brought in Tory Burch, Zegna and Marni under

She ultimately actively participated in the acquisitions of Le Labo, Frederic Malle, and By Kilian and assisted in the

transformation of the long-term strategic direction of such company.

In the earlier years

of her career, Ms.

Gabai-Pinsky served as Vice President of Marketing and Communication for Guerlain, a division of LVMH Moet Hennessy

Louis Vuitton S.A., where she led the successful re-launch of Shalimar, the introduction of Aqua Allegoria, and contributed to

the re-focus of the beauty category around its pillars, Terracotta, Meteorites and Issima, while redesigning all communication

strategies and content.

She started her career at L’Oréal, and was also Vice President of Marketing for Giorgio Armani,

where she was instrumental in the overall development of its fragrance business by developing the successful Acqua di Gio for men

and introducing the Emporio Armani franchise.

A graduate from ESSEC Business School in Paris, France, she has received several

awards, including Marketer of the Year by Women’s Wear Daily in December 2013.

is an independent director, and is a member of the Audit Committee, Executive Compensation and Stock Option Committee and the

Nominating Committee of our Company.

We believe Ms.

Gabi-Pinsky is qualified to serve as a member of our board of directors due to her more than 25 years of experience in the luxury, fashion, beauty and fragrance fields, success as a brand builder, creative thinker, business acumen, and a broad understanding of consumers, brands and business models.

Gabi-Pinsky is qualified to serve as a member of our board of directors due

to her more than 25 years of experience in the luxury, fashion, beauty and fragrance fields, success as a brand builder, creative

thinker, business acumen, and a broad understanding of consumers, brands and business models.

Gilbert Harrison

Harrison, age 81, an independent director, was appointed to our board in April 2018.

Harrison has more than 50 years of experience in corporate finance and strategic transactions, specializing in the consumer products space.

He began his career in 1965 practicing corporate and securities law in New York and Philadelphia.

In 1971 he founded Financo, which he grew to become one of the leading independent middle market transaction firms in the country.

In 1985, Financo was acquired by Lehman Brothers, where the firm’s primary efforts were focused on increasing its expertise in retail, apparel and other merchandising transactions of all types.

At Lehman, Mr.

Harrison was Chairman of the Merchandising Group and on the firm’s Investment Banking Operating Committee while continuing as Chairman of Financo, which was renamed the Middle Market Group of Lehman.

In 1989, he re-acquired Financo from Lehman, re-establishing Financo as one of the leading investment banking firms handling transactions and providing strategic advice in connection with merchandising companies.

Harrison retired as Chairman of Financo in December of 2017, after which he formed the Harrison Group, a firm that provides consulting and financial advisory services to merchandising and products companies.

Harrison’s other activities include his membership on the Advisory Council of the World Retail Congress, Shoptalk and the Financial Times Business of Luxury Summit.

Additionally, he has created a course on mergers and acquisitions at The Wharton School and has published various articles and academic studies on the state of retailing and mergers and acquisitions, including a chapter in the book entitled, “The Mergers and Acquisitions Handbook.” Mr.

Harrison lectures throughout the country, including chairing seminars for Retail Week as well as for the International Council of Shopping Centers, the National Retail Federation, Young President’s Center, The Wharton Aresty Institute of Executive Education and The President’s Association of the American Management Association.

Harrison, age 82,

an independent director, was appointed to our board in April 2018.

Harrison has more than 50 years of experience in corporate

finance and strategic transactions, specializing in the consumer products space.

He began his career in 1965 practicing corporate

and securities law in New York and Philadelphia.

In 1971 he founded Financo, which he grew to become one of the leading independent

middle market transaction firms in the country.

In 1985, Financo was acquired by Lehman Brothers, where the firm’s primary

efforts were focused on increasing its expertise in retail, apparel and other merchandising transactions of all types.

Harrison was Chairman of the Merchandising Group and on the firm’s Investment Banking Operating Committee while continuing

as Chairman of Financo, which was renamed the Middle Market Group of Lehman.

In 1989, he re-acquired Financo from Lehman, re-establishing

Financo as one of the leading investment banking firms handling transactions and providing strategic advice in connection with

merchandising companies.

Harrison retired as Chairman of Financo in December of 2017, after which he formed the Harrison Group,

a firm that provides consulting and financial advisory services to merchandising and products companies.

other activities include his membership on the Advisory Council of the World Retail Congress, Shoptalk and the Financial Times

Business of Luxury Summit.

Additionally, he has created a course on mergers and acquisitions at The Wharton School and has published

various articles and academic studies on the state of retailing and mergers and acquisitions, including a chapter in the book entitled,

“The Mergers and Acquisitions Handbook.” Mr.

Harrison lectures throughout the country, including chairing seminars

for Retail Week as well as for the International Council of Shopping Centers, the National Retail Federation, Young President’s

Center, The Wharton Aresty Institute of Executive Education and The President’s Association of the American Management Association.

He also appears frequently on Bloomberg TV and CNBC as an expert on retail and apparel.

Harrison received a Bachelor of Science in Economics from The Wharton School of The University of Pennsylvania in 1962 and his Juris Doctor from The University of Pennsylvania Law School in 1965.

He is also Chairman of the Fashion Division of UJA, Treasurer and a Board member of the Southampton Hospital, Director of the Peggy Guggenheim Collection, and former Board member of the Wharton School of the University of Pennsylvania.

Harrison received

a Bachelor of Science in Economics from The Wharton School of The University of Pennsylvania in 1962 and his Juris Doctor from

The University of Pennsylvania Law School in 1965.

He is also Chairman of the Fashion Division of UJA, Treasurer and a Board member

of the Southampton Hospital, Director of the Peggy Guggenheim Collection, and former Board member of the Wharton School of the

University of Pennsylvania.

We believe Mr.

Harrison is qualified to serve as a member of our board of directors due to his tremendous depth and breadth of knowledge about the merchandising and consumer industry, and he has a long track record of facilitating value-creating transactions for companies in this sector.

Harrison just finished his autobiography, Deal Junky , which was published in January 2022.

Harrison is qualified to serve as a member of our board of directors due to his tremendous

depth and breadth of knowledge about the merchandising and consumer industry, and he has a long track record of facilitating value-creating

transactions for companies in this sector.

Harrison’s autobiography, Deal Junky , was published in January 2022.

Frederic Garcia-Pelayo

Frederic Garcia-Pelayo, age 60, has been with Interparfums SA for more than the past 20 years.

He is currently the Executive Vice President and Chief Operating Officer of Interparfums SA, and was previously the Director of its Luxury and Fashion division beginning in March 2005.

He was also previously the Director of Marketing and Distribution for Perfume and Cosmetics and was first named Executive Vice President in 2004.

Section 16(a) Beneficial Ownership Reporting Compliance

Based solely upon a review of Forms 3, 4 and 5 and any amendments to such forms furnished to us, and written representations from various reporting persons furnished to us, we are not aware of any reporting person who has failed to file the reports required to be filed under Section 16(a) of the Securities Exchange Act of 1934 on a timely basis.

Frederic Garcia-Pelayo,

age 61, has been with Interparfums SA for more than the past 20 years.

He is currently the Executive Vice President and Chief Operating

Officer of Interparfums SA, and was previously the Director of its Luxury and Fashion division beginning in March 2005.

also previously the Director of Marketing and Distribution for Perfume and Cosmetics and was first named Executive Vice President

Section 16(a) Beneficial Ownership

Reporting Compliance

Based solely upon a

review of Forms 3, 4 and 5 and any amendments to such forms furnished to us, and written representations from various reporting

persons furnished to us, we are not aware of any reporting person who has failed to file the reports required to be filed under

Section 16(a) of the Securities Exchange Act of 1934 on a timely basis.

Executive Compensation

Compensation Discussion and Analysis

The executive compensation and stock option committee of our board of directors is comprised entirely of independent directors and oversees all elements of compensation (base salary, annual bonus, long-term incentives and perquisites) of our company’s executive officers and administers our company’s stock option plans, other than the non-employee directors stock option plan, which is self-executing.

The objectives of our compensation program are designed to strike a balance between offering sufficient compensation to either retain existing or attract new executives on the one hand, and maintaining compensation at reasonable levels on the other hand.

We do not have the resources comparable to the cosmetic giants in our industry, and, accordingly, cannot afford to pay excessive executive compensation.

In furtherance of these objectives, our executive compensation packages generally include a base salary, as well as annual incentives tied to individual performance and long-term incentives tied to our operating performance.

Madar, the Chairman and Chief Executive Officer, takes the initiative after discussions with Mr.

Russell Greenberg, Executive Vice President, Chief Financial Officer and a Director, and recommends executive compensation levels for executives for United States operations.

Benacin, the Chief Executive Officer of Interparfums SA, takes the initiative after discussions with Philippe Santi, the Chief Financial Officer of Interparfums SA, and recommends executive compensation levels for executives for European operations.

The recommendations are presented to the compensation committee for its consideration, and the compensation committee makes a final determination regarding salary adjustments and annual award amounts to executives, including Jean Madar and Philippe Benacin.

Madar and Benacin are not present during deliberations or determination of their executive compensation by the compensation committee.

The executive compensation

and stock option committee of our board of directors is comprised entirely of independent directors and oversees all elements of

compensation (base salary, annual bonus, long-term incentives and perquisites) of our company’s executive officers and administers

our company’s stock option plans, other than the non-employee directors stock option plan, which is self-executing.

The objectives of our

compensation program are designed to strike a balance between offering sufficient compensation to either retain existing or attract

new executives on the one hand, and maintaining compensation at reasonable levels on the other hand.

We do not have the resources

comparable to the cosmetic giants in our industry, and, accordingly, cannot afford to pay excessive executive compensation.

furtherance of these objectives, our executive compensation packages generally include a base salary, as well as annual incentives

tied to individual performance and long-term incentives tied to our operating performance.

During 2022 and

prior years, Mr.

Madar, the Chairman and Chief Executive Officer, took the initiative after discussions with Mr.

Russell Greenberg,

the former Executive Vice President, Chief Financial Officer and board member, and recommended executive compensation levels for

executives for United States operations.

Benacin, the Chief Executive Officer of Interparfums SA, took the initiative after

discussions with Philippe Santi, the Chief Financial Officer of Interparfums SA, and recommended executive compensation levels

for executives for European operations.

The recommendations are presented to the compensation committee for its consideration,

and the compensation committee makes a final determination regarding salary adjustments and annual award amounts to executives,

including Jean Madar and Philippe Benacin.

Madar and Benacin are not present during deliberations or determination of

their executive compensation by the compensation committee.

Further, Messrs.

Madar and Benacin, in addition to being executive officers and directors, are our largest beneficial shareholders, and therefore, their interests are aligned with our shareholder base in keeping executive compensation at a reasonable level.

The compensation committee was pleased that the most recent shareholder advisory vote on executive compensation held at our last annual meeting of shareholders in October 2021 overwhelmingly approved the compensation policies and decisions of the compensation committee.

The compensation committee has determined to continue its present compensation policies in order to determine similar future decisions.

Our compensation committee believes that individual executive compensation is at a level comparable with executives in other companies of similar size and stage of development that operate in the fragrance industry, and takes into account our company’s performance as well as our own strategic goals.

Further, the compensation committee believes that its present policies to date, with its emphasis on rewarding performance, has served to focus the efforts of our executives, which in turn has permitted our company to weather the pandemic and economic and political turmoil in certain parts of the world, which resulted in the Company’s record results for 2021.

Madar and Benacin, in addition to being executive

officers and directors, are our largest beneficial shareholders, and therefore, their interests are aligned with our shareholder

base in keeping executive compensation at a reasonable level.

The compensation committee

was pleased that the most recent shareholder advisory vote on executive compensation held at our last annual meeting of shareholders

in September 2022 overwhelmingly approved the compensation policies and decisions of the compensation committee.

The compensation

committee has determined to continue its present compensation policies in order to determine similar future decisions.

Our compensation

committee believes that individual executive compensation is at a level comparable with executives in other companies of similar

size and stage of development that operate in the fragrance industry, and takes into account our company’s performance as

well as our own strategic goals.

Further, the compensation committee believes that its present policies to date, with its emphasis

on rewarding performance, has served to focus the efforts of our executives, which in turn has permitted our company to weather

the COVID-19 pandemic, supply chain disruptions and geopolitical turmoil in certain parts of the world, which resulted in the

Company’s record results for 2022.

During 2022, the members of such committee consisted of Messrs.

Heilbronn and Choël, and Ms.

Heilbronn and Choël,

Gabai-Pinsky.

Elements of Compensation

The compensation of our executive officers is generally comprised of base salaries, including a fee paid to the holding companies of each of Messrs.

The compensation of

our executive officers is generally comprised of base salaries, including a fee paid to the holding companies of each of Messrs.

Madar and Benacin, annual cash bonuses and long-term equity incentive awards.

In determining specific components of compensation, the compensation committee considers individual performance, level of responsibility, skills and experience, other compensation awards or arrangements and overall company performance.

The compensation committee reviews and approves all elements of compensation for all of our executive officers taking into consideration recommendations from the Chief Executive Officer of our company and the Chief Executive Officer of Interparfums SA, as well as information regarding compensation levels at competitors in our industry.

Our named executive officers have all been with the company for more than the past ten (10) years, with Messrs.

In determining specific components of compensation,

the compensation committee considers individual performance, level of responsibility, skills and experience, other compensation

awards or arrangements and overall company performance.

The compensation committee reviews and approves all elements of compensation

for all of our executive officers taking into consideration recommendations from the Chief Executive Officer of our company and

the Chief Executive Officer of Interparfums SA, as well as information regarding compensation levels at competitors in our industry.

Our named executive

officers have all been with the Company for more than the past ten (10) years, other than Mr.

Atwood who joined our Company in

September 2022, with Messrs.

Madar and Benacin being founders of the Company.

Madar and Greenberg for United States operations, and Benacin and Santi for European operations, are most familiar with the individual performance, level of responsibility, skills and experience of each executive officer in their respective operating segments, the compensation committee relies upon the information provided by such executive officers in determining individual performance, level of responsibility, skills and experience of each executive officer.

The compensation committee views the competitive marketplace very broadly, which would include executive officers from both public and privately held companies in general, including fashion and beauty companies, but not limited to the peer companies contained in the corporate performance graph contained in our annual report.

Generally, rather than tie the compensation committee’s determination of compensation proposals to any specific peer companies, the members of our committee have used their business experience, judgment and knowledge to review the executive compensation proposals recommended to them by Mr.

Madar and Greenberg, the former Chief

Financial Officer and Executive Vice President for United States operations, and Benacin and Santi for European operations, were

most familiar with the individual performance, level of responsibility, skills and experience of each executive officer in their

respective operating segments, the compensation committee relies upon the information provided by such executive officers in determining

individual performance, level of responsibility, skills and experience of each executive officer.

The compensation committee

views the competitive marketplace very broadly, which would include executive officers from both public and privately held companies

in general, including fashion and beauty companies, but not limited to the peer companies contained in the corporate performance

graph contained in our annual report.

Generally, rather than tie the compensation committee’s determination of compensation

proposals to any specific peer companies, the members of our committee have used their business experience, judgment and knowledge

to review the executive compensation proposals recommended to them by Mr.

Madar for United States operations and Mr.

Benacin for European operations.

As such, as a general rule the compensation committee did not determine the need to “benchmark” of any material item of compensation or overall compensation.

European operations.

As such, as a general rule the compensation committee did not determine the need to benchmark of any material

item of compensation or overall compensation.

However, in connection with the salary increase to Mr.

Madar that occurred in February 2020, surveys of both peer companies and companies with comparable market capitalizations were used by the compensation committee as one of the factors in reaching such determination.

The members of the compensation committee have extensive experience and business acumen and are well qualified in determining the appropriateness of executive compensation levels.

Heilbronn is a managing partner of a business consulting firm in the area of mergers and acquisitions of large international companies in retail, consumer goods and consumer services throughout the world.

Choël is presently a business consultant and advisor, who previously worked as President and Chief Executive Officer of two divisions of LVMH Moet Hennessy Louis Vuitton S.A., which included such well-known brands as Parfums Christian Dior, Guerlain, and Parfums Givenchy.

Choël has also been President and CEO of both Elida Fabergé France and Chesebrough Ponds USA.

Gabai-Pinsky, the final committee member, has executive experience as the former President of Vera Wang Group, as well as the Global President for Aramis and Designers Fragrances in addition to Beauty Bank and Idea Bank at The Estée Lauder Companies.

Base salaries for executive officers are initially determined by evaluating the responsibilities of the position held and the experience of the individual, and by reference to the competitive marketplace for executive talent.

Base salaries for executive officers are reviewed on an annual basis, and adjustments are determined by evaluating our operating performance, the performance of each executive officer, as well as whether the nature of the responsibilities of the executive has changed.

As stated above, as Messrs.

Madar and Greenberg for United States operations, and Benacin and Santi for European operations, are most familiar with the individual performance, level of responsibility, skills and experience of each executive officer in their respective segments, the committee relies upon the information provided by such executive officers in determining individual performance, level of responsibility, skills and experience of each executive officer.

For executive officers of United States operations, the bulk of their annual compensation is in base salary including a fee paid to the holding company for Mr.

Madar that occurred in February

2020, surveys of both peer companies and companies with comparable market capitalizations were used by the compensation committee

as one of the factors in reaching such determination.

The members of the

compensation committee have extensive experience and business acumen and are well qualified in determining the appropriateness

of executive compensation levels.

Heilbronn is a managing partner of a business consulting firm in the area of mergers and

acquisitions of large international companies in retail, consumer goods and consumer services throughout the world.

previously worked as President and Chief Executive Officer of two divisions of LVMH Moet Hennessy Louis Vuitton S.A., which included

such well-known brands as Parfums Christian Dior, Guerlain, and Parfums Givenchy.

Choël has also been President and CEO

of both Elida Fabergé France and Chesebrough Ponds USA.

Gabai-Pinsky, the final committee member, has executive experience

as the former President of Vera Wang Group, as well as the Global President for Aramis and Designers Fragrances in addition to

Beauty Bank and Idea Bank at The Estée Lauder Companies.

Base salaries for executive

officers are initially determined by evaluating the responsibilities of the position held and the experience of the individual,

and by reference to the competitive marketplace for executive talent.

Base salaries for executive officers are reviewed on an annual

basis, and adjustments are determined by evaluating our operating performance, the performance of each executive officer, as well

as whether the nature of the responsibilities of the executive has changed.

As stated above,

Madar and Greenberg for United States operations, and Messrs.

Benacin and Santi for European operations, were most

familiar with the individual performance, level of responsibility, skills and experience of each executive officer in their respective

segments, the committee relied upon the information provided by such executive officers in determining individual performance,

level of responsibility, skills and experience of each executive officer.

For executive officers

of United States operations, the bulk of their annual compensation is in base salary including a fee paid to the holding company

Madar for services rendered outside the United States.

However, for executive officers of European operations base salary comprises a smaller percentage of overall compensation.

We have paid a lower percentage of overall compensation in the form of base salary to executive officers of European operations for several years, principally because European operations historically have had higher profitability than United States operations, and European operations are run differently from United States operations by the Chief Executive Officer of European operations, Mr.

As the result of this historically higher profitability, European operations have had the ability to pay higher bonus compensation in addition to base salary.

As bonus compensation is and has historically been discretionary, no targets were set in order to maintain flexibility.

Further, if results of operations for European operations were not satisfactory (again, no target amounts were set to maintain flexibility), then bonus compensation, as well as overall compensation could be lowered without otherwise affecting base salary.

Finally, by keeping annual bonus compensation at a higher percentage of overall compensation and base salary at a lower percentage, our company benefits because the base amount for annual salary adjustments would be smaller.

COVID-19 Impact

It is important to note that 2020 salary increases and 2019 bonus compensation awards were determined prior to the full impact the global COVID-19 pandemic, the imposition of worldwide governmental lockdowns, and the resultant negative impact on the Company’s operations.

During the balance of the pandemic and related impacts through December 31, 2020, no employees were terminated or furloughed from United States operations.

Interparfums SA did avail itself of a small French government plan for unemployment insurance for its employees.

For 2020, there were no reductions or deferrals in salaries of any executive officers or employees.

For 2021, as the result of the continuing impacts of the COVID-19 pandemic, after the recommendations of Messrs.

Madar and Benacin, the compensation committee determined that no executive officer would receive any increase in base salary.

In addition, there were no increases in the fees paid to the respective holding companies of Messrs.

Madar and Benacin.

For 2021, although Mr.

Benacin received the same base salary as he did in 2020, his salary was affected by foreign currency conversion rates and was $804,000 for 2021.

However, for executive officers of European operations base salary

comprises a smaller percentage of overall compensation.

We have paid a lower percentage of overall compensation in the form of

base salary to executive officers of European operations for several years, principally because European operations historically

have had higher profitability than United States operations, and European operations are run differently from United States operations

by the Chief Executive Officer of European operations, Mr.

As the result of this historically higher profitability, European

operations have had the ability to pay higher bonus compensation in addition to base salary.

As bonus compensation is and has historically

been discretionary, no targets were set in order to maintain flexibility.

Further, if results of operations for European operations

were not satisfactory (again, no target amounts were set to maintain flexibility), then bonus compensation, as well as overall

compensation could be lowered without otherwise affecting base salary.

Finally, by keeping annual bonus compensation at a higher

percentage of overall compensation and base salary at a lower percentage, our company benefits because the base amount for annual

salary adjustments would be smaller.

For the impact

of COVID-19 on executive compensation in 2020 and 2021, please see our Annual Report on Form 10-K for the fiscal year ended December

31, 2021, under Item 11, Item 11.

Executive Compensation, Compensation Discussion and Analysis , Covid-19 Impact ,

which is incorporated by reference herein.

For 2022, Mr.

Benacin received a modest increase in base salary of $14,000 to $789,000, which is comparable to the modest increase in base salary of $13,000 in 2019.

Benacin’s base salary includes $250,000 paid by the Company’s United States operations to Mr.

Benacin’s holding company for each of the past three years, in accordance with the consulting agreement with Mr.

Benacin’s holding company, which provides for review on an annual basis of the amount of compensation payable to such company.

The compensation committee considered the following salient factors in authorizing payment to Mr.

Benacin’s holding company— services rendered to United States operations for several years by Mr.

Benacin in connection with licensing and distribution of international brands, as well as future services to be performed by Mr.

Benacin internationally relating to licensing and distribution of international brands for United States operations.

Benacin values the services of two named executive officers of Interparfums SA, Mr.

Philippe Santi, Executive Vice President and the Chief Financial Officer, and Mr.

Frederic Garcia-Pelayo, Executive Vice President and Chief Operating Officer, equally, their base salaries, as well as their bonus compensation discussed below, have been in lockstep.

For 2021, the base salary of each of Messrs.

Santi and Garcia-Pelayo was €408,000, as no executive officer received any increase in base salary due the continuing impact of the COVID-19 pandemic.

received a base salary of $756,000, (included an increase of €12,000 but due to the foreign currency conversion this is showing

as a decrease when compared to 2021), and Mr.

Benacin’s holding company received $250,000 paid by the Company’s United

States operations, which is included the calculation of his base salary.

This same consulting fee has been paid for more than

each of the past three years, in accordance with the consulting agreement with Mr.

Benacin’s holding company, which provides

for review on an annual basis of the amount of compensation payable to such company.

For 2021, although

Benacin received the same base salary as he did in 2020, his salary was affected by foreign currency conversion rates and was

$804,000 for 2021.

For 2020, Mr.

Benacin received a modest increase in base salary of $14,000 to $789,000.

The compensation committee

considered the following salient factors in authorizing payment to Mr.

Benacin’s holding company— services rendered

to United States operations for several years by Mr.

Benacin in connection with licensing and distribution of international brands,

as well as future services to be performed by Mr.

Benacin internationally relating to licensing and distribution of international

brands for United States operations.

Benacin values

the services of two named executive officers of Interparfums SA, Mr.

Philippe Santi, Executive Vice President and the Chief Financial

Officer, and Mr.

Frederic Garcia-Pelayo, Executive Vice President and Chief Operating Officer, equally, their base salaries, as

well as their bonus compensation discussed below, have been in lockstep.

For 2022, the base

salary of each of Messrs.

Santi and Garcia-Pelayo was €432,000, and increase of €24,000.

For 2021, the base salary of

each of Messrs.

Santi and Garcia-Pelayo was €408,000, as no executive officer received any increase in base salary due the

continuing impact of the COVID-19 pandemic.

However, the base salaries of Messrs.

Santi and Garcia-Pelayo in 2021 were affected by foreign currency conversion rates and were both $483,000 for 2021.

Santi and Garcia-Pelayo in 2021 were affected

by foreign currency conversion rates and were both $483,000 for 2021.

For 2020, each of Messrs.

Santi and Garcia-Pelayo received an increase in base salary of $14,000 to $470,000.

Each of Messrs.

Santi and Garcia-Pelayo had received an increase of $13,000 in 2019.

Increases in prior years were awarded primarily to reward these two executive officers for their contributions in European Operations achieving increases in both the sales and earnings.

The compensation committee considered the recommendations of Mr.

Benacin, results of operations for the year, as well as the services performed for European operations by Messrs.

Santi and Garcia-Pelayo received

an increase in base salary of $14,000 to $470,000.

Increases in prior years were awarded primarily to reward these two executive

officers for their contributions in European Operations achieving increases in both the sales and earnings.

The compensation committee

considered the recommendations of Mr.

Benacin, results of operations for the year, as well as the services performed for European

operations by Messrs.

Santi and Garcia-Pelayo in authorizing these salary levels.

A different approach is taken for United States operations as that segment is smaller and less profitable.

A more significant base salary is paid in order to attract and retain employees with the skills and talents needed to run the operation with a lesser emphasis placed on bonuses.

A different approach

is taken for United States operations as that segment is smaller and less profitable.

A more significant base salary is paid in

order to attract and retain employees with the skills and talents needed to run the operation with a lesser emphasis placed on

Neither of the executive officers for United States operations have employment agreements (although Mr.

Madar’s personal holding company has a consulting agreement that provides for review on an annual basis of the amount of compensation payable to such company), as we believe that having flexibility in structuring annual base salary is a benefit, which permits us to act quickly to meet a changing economic environment.

As previously reported, from 2013 until 2019 the annual aggregate base salary paid to Mr.

Madar individually and fees paid to his holding company remained unchanged at $630,000, which was substantially below the amounts indicated by two surveys of chief executive officer salaries for 2019 (collectively the “CEO Salary Surveys”).

The CEO Salary Surveys indicated that the annual and median average CEO salaries for peer companies (excluding the Madar salary) were $2,854,656 and $1,540,000, respectively, and $2,604,346 and $1,750,000 for comparable market capitalization companies, respectively.

personal holding company has a consulting agreement that provides for review on an annual basis of the amount of compensation payable

to such company), as we believe that having flexibility in structuring annual base salary is a benefit, which permits us to act

quickly to meet a changing economic environment.

As previously reported,

from 2013 until 2019 the annual aggregate base salary paid to Mr.

Madar individually and fees paid to his holding company remained

unchanged at $630,000, which was substantially below the amounts indicated by two surveys of chief executive officer salaries

for 2019 (collectively the “CEO Salary Surveys”).

The CEO Salary Surveys indicated that the annual and median average

CEO salaries for peer companies (excluding the Madar salary) were $2,854,656 and $1,540,000, respectively, and $2,604,346 and

$1,750,000 for comparable market capitalization companies, respectively.

In recognition of the efforts of Mr.

Madar and his holding company as one of the prime causes for our substantial increase in net sales and net income, as well as market capitalization from 2014 through 2019, thus substantially increasing shareholder value, on February 4, 2020 the Committees jointly authorized the aggregate annual increase in Mr.

Madar and his holding

company as one of the prime causes for our substantial increase in net sales and net income, as well as market capitalization

from 2014 through 2019, thus substantially increasing shareholder value, on February 4, 2020 the Committee jointly authorized

the aggregate annual increase in Mr.

Madar’s base salary by $600,000 to $1.23 million effective as of January 1, 2020.

For 2021, Mr.

2022 and 2021, Mr.

Madar did not receive any increase in base salary.

Russell Greenberg, the Executive Vice President and Chief Financial Officer, also did not have any salary increase for 2021, and his base salary remained at $720,000.

Previously, he had received the same $30,000 increase in base salary for 2020 and 2019.

In connection with the previous increases in salary, the Compensation Committee considered the following material factors in granting Mr.

Russell Greenberg,

the former Executive Vice President and Chief Financial Officer, received a $30,000 increase in base salary for 2022 to $750,000

on an annualized basis, also did not have any salary increase for 2021, when his base salary remained at $720,000.

he had received the same $30,000 increase in base salary for 2020 and 2019.

In connection with the previous increases in salary,

the Compensation Committee considered the following material factors in granting Mr.

Greenberg his salary increases:

his individual performance, level of responsibility, skill and experience, as well as the recommendation of the Chief Executive Officer.

Bonus Compensation/Annual Incentives

As discussed above, we have paid a higher percentage of overall compensation in the form of bonus compensation to executive officers of European operations for several years, principally because European operations historically have had higher profitability than United States operations.

As the result of this historically higher profitability, European operations have had the ability to pay higher bonus compensation in addition to base salary.

As bonus compensation is discretionary, no targets were set in order to maintain flexibility.

Individual performance, level of responsibility, skill and experience, were the salient factors considered by the Compensation Committee in awarding bonus compensation described below.

In recognition of the Company’s turnaround from the effects of the COVID-19 pandemic and record results in 2021, and after the recommendations of Messrs.

Madar and Benacin, the compensation committee determined that Mr.

his individual

performance, level of responsibility, skill and experience, as well as the recommendation of the Chief Executive Officer.

became the Chief Financial Officer in September 2022 after the retirement of Mr.

Greenberg, was granted a $500,000 annual base

salary, as well as a signing bonus of $100,000 that was paid in September 2022.

An additional bonus of $50,000 was also paid in

December 2022 for the September-December period.

The Compensation Committee considered the following material factors in approving

the base salary and guaranteed annual bonus of Mr.

Atwood for 2022:

his individual performances, level of responsibilities, skill

and experience with other companies in the fragrance and cosmetic industry, as well as the recommendation of the Chief Executive

Bonus Compensation/Annual

In recognition

of the Company’s turnaround from the effects of the COVID-19 pandemic, supply chain disruptions and geopolitical turmoil

in 2022 and record results in 2022, and after the recommendations of Messrs.

Madar and Benacin, the compensation committee determined

Benacin receive a bonus of $211,000.

Benacin, the chief decision maker for European operations, proposed and the compensation committee concurred in the payment of discretionary bonus compensation of $131,000.

For his performance in 2019 Mr.

Benacin was paid discretionary bonus compensation of $110,000.

The discretionary bonus compensation for Mr.

Benacin has been approximately 30% of his base salary in 2021, 17%, of his base salary in 2020 and approximately 14% in 2019.

In addition, bonus compensation for Messrs.

Santi and Garcia-Pelayo have remained in lockstep, and each was awarded a discretionary bonus of $378,000 in 2021 or 78% of their base salary.

This compares to $296,000 and $324,000 in 2020 and 2019, respectively, or approximately 63% and 73% of their base salaries for services performed in 2020 and 2019, respectively.

A different approach is taken for United States operations as that segment is smaller and less profitable.

As discussed above, a more significant base salary is paid in order to attract and retain employees with the skills and talents needed to run United States operations with a lesser emphasis placed on bonuses.

Also, in recognition of record results in 2021 while dealing with the effects of

the COVID-19 pandemic, supply chain disruptions and geopolitical turmoil, and after the recommendations of Messrs.

Madar and Benacin,

the compensation committee determined that Mr.

Benacin receive a bonus of $166,000.

Benacin, the chief decision maker

for European operations, proposed and the compensation committee concurred in the payment of discretionary bonus compensation

Discretionary bonus compensation for Mr.

Benacin has been approximately 28%, 30% and 17% of his base salary in 2022,

2021 and 2020, respectively.

In addition, the Compensation

Committee agreed with the recommendation of Mr.

Benacin and the contributions made by Messrs.

Santi and Garcia-Pelayo to the Company’s

success and growth.

Bonus compensation for Messrs.

Santi and Garcia-Pelayo have remained in lockstep, and each was awarded a discretionary

bonus of $437,000, $378,000 and $296,000 in 2022, 2021 and 2020, respectively, or 96%, 78% and 63%of their base salary for those

A different approach

is taken for United States operations as that segment is smaller and less profitable.

As discussed above, a more significant base

salary is paid in order to attract and retain employees with the skills and talents needed to run United States operations with

a lesser emphasis placed on bonuses.

In 2022, as Mr.

Greenberg retired, he did not receive a discretionary bonus.

In 2021, although Mr.

Greenberg did not receive any increase in base salary due to the continuing impact of the COVID-19 pandemic, he did receive a discretionary bonus of $70,000 based upon the recommendation of the Chief Executive Officer.

Greenberg was paid a discretionary bonus of $35,000 in 2020 and $50,000 in 2019.

Greenberg did not receive any increase in base

salary due to the continuing impact of the COVID-19 pandemic, he did receive a discretionary bonus of $70,000 based upon the recommendation

of the Chief Executive Officer.

Greenberg was paid a discretionary bonus of $35,000 in 2020 and $50,000 for each of the several

years prior thereto.

The Compensation Committee considered the following material factors in granting Mr.

Greenberg his bonuses:

his individual performance, level of responsibility, skill and experience, as well as the recommendation of the Chief Executive Officer.

Madar, the Chief Executive Officer has not received any cash bonus in the past three years.

As required by French law, Interparfums SA maintains its own profit sharing plan for all French employees who have completed three months of service, including executive officers of our European operations other than Mr.

his individual performance, level of responsibility, skill and experience, as well as the recommendation of the Chief Executive

became the Chief Financial Officer in September 2022 after the retirement of Mr.

Greenberg, received a sign on bonus of $100,000.

His compensation arrangement also entitles him to a guaranteed annual bonus of $100,000, as well as a $100,000 bonus based upon

achieving certain milestones.

For 2022, Mr.

Atwood received his $100,000 sign on bonus and $50,000 pro-rated performance bonus

related to the September-December period.

The Compensation Committee considered the same factor in granting these two bonuses

as in approving his initial annualized salary.

Madar, the Chief

Executive Officer has not received any cash bonus in the past three years.

As required by French

law, Interparfums SA maintains its own profit sharing plan for all French employees who have completed three months of service,

including executive officers of our European operations other than Mr.

Benacin, the Chief Executive Officer of Interparfums SA.

1 unchanged sentence

The maximum amount payable per year per employee is approximately $32,485.

Calculation of the total annual benefits contribution is made according to the following formula:

67% of (Interparfums SA net income, less 2.5% of shareholders’ equity without net income for the year) times a fraction, the numerator of which is wages, and the denominator of which is net income before tax + wages + taxes (other than income tax) + valuation allowances + amortization expenses + interest expenses.

Contribution to individual employees is then made pro rata based upon their individual salaries for the year.

Calculation of the

total annual benefits contribution is made according to the following formula:

67% of (Interparfums SA net income,

less 2.5% of shareholders’ equity without net income for the year) times a fraction, the numerator of which is wages, and

the denominator of which is net income before tax + wages + taxes (other than income tax) + valuation allowances + amortization

expenses + interest expenses.

Contribution to individual

employees is then made pro rata based upon their individual salaries for the year.

Long-Term Incentives

Stock Options .

In prior years, we have linked long-term incentives with corporate performance through the grant of stock options.

However, no options were granted in 2021 or 2020 to either employees of United States operations or European operations, but the compensation committee may choose to do so in the future as part of a review of the executive compensation strategy.

Interparfums SA Stock Compensation Plan

2019 Plan – In December 2018, Interparfums SA approved a plan to grant an aggregate of 26,600 shares of its stock to employees with no performance condition requirement, and an aggregate of 133,000 shares to officers and managers, subject to certain corporate performance conditions.

The shares, subject to adjustment for stock splits, will be distributed in June 2022.

Under this plan in June 2022, Messrs.

Benacin, Madar, Garcia Pelayo and Santi are estimated to receive 4,000 shares each, all subject to adjustment for stock splits.

In June 2020, the performance conditions were modified effecting 96 employees.

As of December 31, 2021, the number of shares to be distributed, after forfeited shares and adjusted for stock splits, increased to 172,343.

The increase in shares anticipated to be distributed were transferred from treasury shares at the Interparfums SA level.

The modification resulted in a revised cost of the grant to approximately $4.6 million.

In connection with the 2019 Plan referred to above, an incentive plan was established by Interparfums SA for certain employees of Interparfums Luxury Brands, Inc.

In prior years, we had linked long-term incentives with corporate performance through the grant of stock options.

options were granted in 2021 or 2020 to either employees of United States operations or European operations, as other compensation

arrangements were being considered as part of a review of the executive compensation strategy.

In December 2022, at the recommendation

of the Chief Executive Officer, the Compensation Committee authorized the grant of a stock option to purchase 5,000 shares to

Atwood at the fair market value on the date of grant as part of his long-term incentives.

Unless the market price of our common

stock increases, Mr.

Atwood will have no tangible benefit from this option.

Thus, the option holder is provided with the additional

incentive to increase individual performance with the ultimate goal of increasing our overall performance.

We believe that enhanced

executive incentives that result in increased corporate performance tend to build company loyalty.

No other stock option grants

were made to other executive officers in 2022, including Messrs.

Jean Madar and Philippe Benacin.

Interparfums SA

Stock Compensation Plans

2022 Free Share

Plan – On March 16, 2022, the Board of Interparfums SA (“IPSA”) decided to grant 88,400 free shares of its

capital stock to all of the IPSA’s employees and corporate officers having more than 6 months seniority at the grant date.

The free shares are to be issued in June 2025.

Issuance of those shares are based on satisfaction of performance conditions, relating

to the 2024 IPSA sales for 50% of the shares and 2024 operating income for the balance.

IPSA used the services

of third party to assist them in the valuation of the plan, with the calculations and assumptions as follows:

- Management expects the rate of staff turnover to be 12%,

- Using the Monte Carlo method, management expects the performance rate to be 80% on the consolidated

sales and 80.8% on the consolidated operating income.

Based on the above

assumptions, the total expenses related to this plan is valued at $3.3 million.

As of December 31,

- 63,281 shares of IPSA Capital

Stock, representing $3.0 million were purchased in the open market and allocated to this

$1.0 million of

expense was recorded (or $1.2 million including social contributions).

– In December 2018, Interparfums SA approved a plan to grant an aggregate of 26,600 shares of its stock to employees with

no performance condition requirement, and an aggregate of 133,000 shares to officers and managers, subject to certain corporate

performance conditions.

The shares, subject to adjustment for stock splits, were distributed in June 2022.

Under this plan in

June 2022, Messrs.

Benacin, Madar, Garcia Pelayo and Santi received 4,000 shares each (5,857 shares as adjusted for stock splits).

In June 2020, the performance

conditions were modified effecting 96 employees.

As of December 31, 2021, the number of shares to be distributed, after forfeited

shares and adjusted for stock splits, increased to 172,343.

The increase in shares anticipated to be distributed were transferred

from treasury shares at the Interparfums SA level.

The modification resulted in a revised cost of the grant to approximately $4.6

In connection with

the 2019 Plan referred to above, an incentive plan was established by Interparfums SA for certain employees of Interparfums Luxury

(“IPLB”), Interparfums Singapore (“IP Singapore”) and Inter Parfums, Inc.

The proposed incentive plan would not provide shares but rather, would give a cash payment or bonus (“incentive” or “award”) that mirrors the shares that Interparfums SA employees will receive.

An aggregate of 42,140 “phantom” shares have been awarded with Mr.

The proposed incentive

plan would not provide shares but rather, would give a cash payment or bonus (“incentive” or “award”) that

mirrors the shares that Interparfums SA employees will receive.

An aggregate of 42,140 “phantom” shares have been awarded

in 2022, with Mr.

Greenberg being awarded 1,000 of such “phantom” shares, all subject to adjustment for stock splits,

Stock Appreciation Rights

Our stock option plans authorize us to grant stock appreciation rights, or SARs.

A SAR represents a right to receive the appreciation in value, if any, of our common stock over the base value of the SAR.

with a value of approximately $69,839.

Stock Appreciation

Our stock option plans

authorize us to grant stock appreciation rights, or SARs.

A SAR represents a right to receive the appreciation in value, if any,

of our common stock over the base value of the SAR.

To date, we have not granted any SARs under our plans.

While the compensation committee currently does not plan to grant any SARs under our plans, it may choose to do so in the future as part of a review of the executive compensation strategy.

While the compensation

committee currently does not plan to grant any SARs under our plans, it may choose to do so in the future as part of a review of

the executive compensation strategy.

Restricted Stock

We have not in the past, and we do not have any future plans to grant restricted stock to our executive officers.

However, while the compensation committee currently does not plan to authorize any restricted stock plans, the compensation committee may choose to do so in the future as part of a review of the executive compensation strategy.

Our French operating subsidiary, Interparfums, SA, however, has instituted its 2019 Stock Compensation Plans as discussed above.

We have not in

the past, and we do not have any future plans to grant restricted stock to our executive officers.

However, while the compensation

committee currently does not plan to authorize any restricted stock plans, the compensation committee may choose to do so in the

future as part of a review of the executive compensation strategy.

Our French operating subsidiary, Interparfums, SA, however,

has instituted its 2022 and 2019 Stock Compensation Plans as discussed above.

Other Compensation

1 unchanged sentence

Benacin and Garcia-Pelayo received an automobile allowance of $11,372.

No Stock Ownership Guidelines

We do not require any minimum level of stock ownership by any of our executive officers.

No Stock Ownership

We do not require any

minimum level of stock ownership by any of our executive officers.

As stated above, Messrs.

Madar and Benacin, are our largest beneficial shareholders, which aligns their interests with our shareholder base in keeping executive compensation at a reasonable level.

Retirement and Pension Plans

We maintain a 401(k) plan for United States operations.

Commencing in 2021 we started matching the first $6,000 of contribution for each employee, as we have determined that base compensation together with annual bonuses, are sufficient incentives to retain talented employees.

Madar and Benacin, are our largest

beneficial shareholders, which aligns their interests with our shareholder base in keeping executive compensation at a reasonable

Retirement and Pension

We maintain a 401(k)

plan for United States operations.

Commencing in October 2021 we started matching the first $6,000 of contribution for each employee,

as we have determined that base compensation together with annual bonuses, are sufficient incentives to retain talented employees.

Our European operations maintain a pension plan for its employees as required by French law.

For each of 2021.

2020 and 2019, each of Messrs.

Benacin, Santi and Garcia-Pelayo received an increase of $17,773, $17,500, and $16,789, respectively, in their value of deferred compensation earnings.

For each of 2022, 2021and 2020, each

Benacin, Santi and Garcia-Pelayo received an increase of $16,006, $17,773 and $17,500, respectively, in their value

of deferred compensation earnings.

Compensation Committee Report

We have reviewed and discussed with management the Compensation Discussion and Analysis provisions to be included in this Annual Report on Form 10-K for fiscal year ended December 31, 2021 and the proxy statement for the upcoming annual meeting of shareholders.

Based on this review and discussion, we recommend to the board of directors that the Compensation Discussion and Analysis referred to above be included in this Annual Report on Form 10-K as well as the proxy statement for the upcoming annual meeting of shareholders.

We have reviewed and

discussed with management the Compensation Discussion and Analysis provisions to be included in this Annual Report on Form 10-K

for fiscal year ended December 31, 2022 and the proxy statement for the upcoming annual meeting of shareholders.

Based on this

review and discussion, we recommend to the board of directors that the Compensation Discussion and Analysis referred to above be

included in this Annual Report on Form 10-K as well as the proxy statement for the upcoming annual meeting of shareholders.

Francois Heilbronn

1 unchanged sentence

Veronique Gabai-Pinsky

following table sets forth a summary of all compensation awarded to, earned by or paid to our “named executive officers,”

who are our principal executive officer, our principal financial officer, and each of the three most highly compensated executive

officers of our company.

This table covers all such compensation during fiscal years ended December 31, 2021, December 31, 2020

and December 31, 2019.

For all compensation related matters disclosed in the summary compensation table, and elsewhere where applicable,

all amounts paid in euro have been converted to U.S.

The following table

sets forth a summary of all compensation awarded to, earned by or paid to our “named executive officers,” who are our

principal executive officer, our principal financial officer, and each of the three most highly compensated executive officers

of our company.

This table covers all such compensation during fiscal years ended December 31, 2022, December 31, 2021 and December

For all compensation related matters disclosed in the summary compensation table, and elsewhere where applicable, all

amounts paid in euro have been converted to U.S.

dollars at the average rate of exchange in each year.

3 unchanged sentences

Pension Value

Chief Executive Officer

Chief Executive

Russell Greenberg,

Chief Financial Officer and

Chief Financial

Executive Vice President

Philippe Benacin, President Inter

Parfums, Inc., Chief Executive

Officer of Interparfums SA

Philippe Santi, Executive Vice

President and Chief Financial

Michel Atwood (5)

Chief Financial

Philippe Benacin,

President Inter

Parfums, Inc., Chief

Officer of Interparfums

Philippe Santi,

Executive Vice

President and Chief

Officer, Interparfums

Garcia-Pelayo,

Executive Vice President

Chief Operating

Officer Interparfums SA

Frédéric Garcia-Pelayo,

Executive Vice President and

Chief Operating Officer Interparfums SA

Amounts reflected

under Option Awards represent the grant date fair values in 2021, 2020 and 2019 based on the fair value of stock option awards

using a Black-Scholes option pricing model.

The assumptions used in this model are detailed in Footnote 13 to the audited

consolidated financial statements in our Annual Report on Form 10-K for the year ended December 31, 2021 and filed with the

As required by French

law, Interparfums SA maintains its own profit sharing plan for all French employees who have completed three months of service,

including executive officers of our European operations other than Mr.

Benacin, the Chief Executive Officer of Interparfums

Benefits are calculated based upon a percentage of taxable income of Interparfums SA and are allocated to employees based

Amounts reflected under Option Awards represent the grant date fair values in 2022, 2021 and 2020 based on the fair value of stock option awards using a Black-Scholes option pricing model.

The assumptions used in this model are detailed in Footnote 13 to the audited consolidated financial statements in our Annual Report on Form 10-K for the year ended December 31, 2022 and filed with the SEC.

Benacin, the Chief Executive Officer of Interparfums SA.

Benefits are calculated based upon a percentage of taxable income of Interparfums SA and are allocated to employees based upon salary.

The maximum amount payable per year is approximately $32,485.

of total annual benefits contribution is made according to the following formula:

of (Interparfums SA net income, less 2.5% of shareholders’ equity without net income for the year) times a fraction, the

numerator of which is wages, and the denominator of which is net income before tax + wages + taxes (other than income tax) + valuation

allowances + amortization expenses + interest expenses.

to individual employees is then made pro rata based upon their individual salaries for the year.

following table identifies (i) perquisites and other personal benefits provided to our named executive officers in fiscal

2021, and quantifies those required by SEC rules to be quantified and (ii) all other compensation that is required by

SEC rules to be separately identified and quantified.

and Principal Position

Calculation of total

annual benefits contribution is made according to the following formula:

67% of (Interparfums SA net income,

less 2.5% of shareholders’ equity without net income for the year) times a fraction, the numerator of which is wages, and

the denominator of which is net income before tax + wages + taxes (other than income tax) + valuation allowances + amortization

expenses + interest expenses.

Contribution to individual

employees is then made pro rata based upon their individual salaries for the year.

The following table identifies (i) perquisites

and other personal benefits provided to our named executive officers in fiscal 2022, and quantifies those required by SEC

rules to be quantified and (ii) all other compensation that is required by SEC rules to be separately identified and quantified.

Greenberg retired in September

Atwood replaced Mr.

on September 6, 2022.

His base salary was prorated from $500,000, annually.

Name and Principal Position

Jean Madar, Chairman

13 unchanged sentences

Interparfums SA

stock options were granted to the executive officers of our company listed in the Summary Compensation Table during the past fiscal

SA Stock Compensation Plan.

options were granted by Interparfums SA to the executive officers of our company listed in the Summary Compensation Table during

the past fiscal year.

SA Profit Sharing Plan

as discussed above and required by French law, Inter Parfums, SA maintains its own profit sharing plan for all French employees

who have completed three months of service, including executive officers of our European operations other than Mr.

Chief Executive Officer of Inter Parfums, SA.

Benefits are calculated based upon a percentage of taxable income of Interparfums

SA and allocated to employees based upon salary.

Plan Based Awards

The following table

sets certain information relating to each grant of an award made by our company to the executive officers of our company listed

in the Summary Compensation Table during the past fiscal year.

Grants of Plan-Based Awards

Estimated Future Payouts Under

Non-Equity Incentive Plan Awards

Estimated Future Payouts Under

Equity Incentive Plan Awards

All Other Stock Awards:

Number of Shares of Stock or

All Other Option Awards:

Number of Securities Underlying

Exercise or Base Price of Option

Threshold ($)

Threshold (#)

Russell Greenberg

Philippe Benacin

Philippe Santi

Frédéric Garcia-Pelayo

Interparfums SA

Stock Compensation Plan

The following table

sets certain information relating to each grant of an award made by Interparfums SA to the executive officers of our company listed

in the Summary Compensation Table during the past fiscal year.

Equity awards relate to the shares of Interparfums SA.

Grants of Plan-Based Awards

Estimated Future Payouts Under

Non-Equity Incentive Plan Awards

Estimated Future Payouts Under

Equity Incentive Plan Awards

All Other Stock Awards:

Number of Shares of Stock or

All Other Option Awards:

Number of Securities Underlying

Exercise or Base Price of Option

Threshold ($)

Threshold (#)

Russell Greenberg

Philippe Benacin

Philippe Santi

Frédéric Garcia-Pelayo

NA means not applicable.

Interparfums SA

Profit Sharing Plan

Also as discussed above

and required by French law, Inter Parfums, SA maintains its own profit sharing plan for all French employees who have completed

three months of service, including executive officers of our European operations other than Mr.

Benacin, the Chief Executive Officer

of Inter Parfums, SA.

Benefits are calculated based upon a percentage of taxable income of Interparfums SA and allocated to employees

based upon salary.

The maximum amount payable per year per employee is approximately $32,485.

Equity Awards at Fiscal Year-End

following table sets forth certain information relating to outstanding equity awards of our Company held by the executive officers

listed in the Summary Compensation Table as of December 31, 2021.

Calculation of total

annual benefits contribution is made according to the following formula:

67% of (Interparfums

SA net income, less 2.5% of shareholders equity without net income for the year) times a fraction, the numerator of which is wages,

and the denominator of which is net income before tax + wages + taxes (other than income tax) + valuation allowances + amortization

expenses + interest expenses.

The following table

sets certain information relating to each grant of a non-equity award made by Interparfums SA to the executive officers of our

company listed in the Summary Compensation Table during the past fiscal year.

Equity awards relate to the shares of Interparfums

Outstanding Equity Awards at Fiscal

The following table

sets forth certain information relating to outstanding equity awards of our Company held by the executive officers listed in the

Summary Compensation Table as of December 31, 2022.

Option Awards

Exercisable (1)

Unexercisable

Equity Incentive

Russell Greenberg

Michel Atwood

Philippe Benacin

1 unchanged sentence

Frédéric Garcia-Pelayo

from table above ]

All options expire

6 years from the date of grant, and vest 20% each year commencing one year after the date of grant.

Options are held

in the name of personal holding company.

following table sets certain information relating to outstanding equity awards granted by Interparfums SA, our majority-owned

French subsidiary which has its shares traded on the NYSE Euronext, held by the executive officers of our company listed in the

Summary Compensation Table as of the end of the past fiscal year.

EQUITY AWARDS AT FISCAL YEAR-END

[ Footnotes from table above ]

All options expire 6 years from the date of grant, and vest 20% each year commencing one year after the date of grant.

Options are held in the name of personal holding company.

The following table

sets certain information relating to outstanding equity awards granted by Interparfums SA, our majority-owned French subsidiary

which has its shares traded on the NYSE Euronext, held by the executive officers of our company listed in the Summary Compensation

Table as of the end of the past fiscal year.

OUTSTANDING EQUITY AWARDS AT FISCAL YEAR-END

OF INTERPARFUMS SA

of Securities Underlying Unexercised Options (#) Exercisable)

of Securities Underlying Unexercised Options (#) Unexercisable

Incentive Plan Awards:

Option Awards

Number of Securities

Underlying Unexercised Options (#) Exercisable)

Number of Securities

Underlying Unexercised Options (#) Unexercisable

Equity Incentive

Number of Securities Underlying Unexercised Unearned

Option Expiration

Number of Shares

or Units of Stock that Have Not Vested (#)(1)

of Shares or Units of Stock that Have Not Vested ($)

Value of Shares or Units of Stock that Have Not Vested ($)

Incentive Plan Awards:

Equity Incentive

Number of Unearned Shares, Units or Other Rights that Have Not Vested (#)

Incentive Plan Awards:

Equity Incentive Plan Awards:

Market or Payout Value of Unearned Shares, Units or Other Rights that Have Not Vested($)

3 unchanged sentences

Frédéric Garcia-Pelayo

Estimated number of shares are to be issued only to the extent that the performance conditions have been met.

As of December 31, 2021, the closing price of Interparfums SA as reported by Euronext was 73.50 euros, and the exchange rate was

1 Estimated number of shares are to be

issued only to the extent that the performance conditions have been met.

2 As of December 31, 2022, the closing

price of Interparfums SA as reported by Euronext was 55.60 euros, and the exchange rate was 1.053 U.S.

dollars to 1 euro.

Exercises and Stock Vested

following table sets forth certain information relating to each option exercise affected during the past fiscal year, and each

vesting of stock, including restricted stock, restricted stock units and similar instruments of our company during the past fiscal

year, for the executive officers of our company listed in the Summary Compensation Table.

EXERCISES AND STOCK VESTED

Option Exercises and Stock Vested

The following table

sets forth certain information relating to each option exercise affected during the past fiscal year, and each vesting of stock,

including restricted stock, restricted stock units and similar instruments of our company during the past fiscal year, for the

executive officers of our company listed in the Summary Compensation Table.

OPTION EXERCISES AND STOCK VESTED

Option Awards

Russell Greenberg

Michel Atwood

Philippe Benacin

1 unchanged sentence

Frédéric Garcia-Pelayo

from table above]

Total value realized

on exercise of options in dollars is based upon the difference between the fair market value of the common stock on the date

of exercise, and the exercise price of the option.

Interparfums SA, our majority-owned French subsidiary which has its shares traded on the Euronext, no options were exercised during

the past fiscal year, and there was no vesting of stock, including restricted stock, restricted stock units and similar instruments

during the past fiscal year, for the executive officers of our company listed in the Summary Compensation Table.

following table sets forth certain information relating to payment of benefits in connection with retirement plans during the

past fiscal year, for the executive officers of our company listed in the Summary Compensation Table.

[Footnotes from table above]

Total value realized on exercise of options in dollars is based upon the difference between the fair market value of the common stock on the date of exercise, and the exercise price of the option.

Regarding Interparfums

SA, our majority-owned French subsidiary which has its shares traded on the Euronext, no options were exercised during the past

fiscal year, and there was no vesting of stock, including restricted stock, restricted stock units and similar instruments during

the past fiscal year, for the executive officers of our company listed in the Summary Compensation Table.

Pension Benefits

The following table

sets forth certain information relating to payment of benefits in connection with retirement plans during the past fiscal year,

for the executive officers of our company listed in the Summary Compensation Table.

PENSION BENEFITS

Russell Greenberg

Michel Atwood

Philippe Benacin

Inter Parfums SA

Inter Parfums SA Pension Plan

Philippe Santi

Inter Parfums SA

Inter Parfums SA Pension Plan

Frédéric Garcia-Pelayo

Inter Parfums SA

Does not include

any contributions made by prior employers, or individually by the recipients as such information is confidential under French

SA maintains a pension plan for all of its employees, including all executive officers.

The calculation of commitments for severance

benefits involves estimating the probable present value of projected benefit obligations.

This projected benefit obligations are

then prorated to take into account seniority of the employees of Interparfums SA on the calculation date.

calculating benefits, the following assumptions were applied:

voluntary retirement

a rate of 45% for

employer payroll contributions for all employees;

a 4% average annual

salary increase;

an annual rate of

turnover for all employees under 55 years of age and nil above;

the TH 00-02 mortality

table for men and the TF 00-02 mortality table for women;

a discount rate

normal retirement age is 65 years, but employees, including Messrs.

Benacin, Santi and Garcia-Pelayo, can collect reduced benefits

if they retire at age 62.

Deferred Compensation

do not maintain any nonqualified deferred compensation plans.

required by Section 953(b) of the Dodd-Frank Wall Street Reform and Consumer Protection Act, and Item 402(u) of Regulation S-K,

we are providing the following information about the relationship of the annual total compensation of our mean employee and the

annual total compensation of Mr.

Inter Parfums SA Pension Plan

Does not include any contributions made by prior employers, or individually by the recipients as such information is confidential under French law.

Interparfums SA maintains

a pension plan for all of its employees, including all executive officers.

The calculation of commitments for severance benefits

involves estimating the probable present value of projected benefit obligations.

This projected benefit obligations are then prorated

to take into account seniority of the employees of Interparfums SA on the calculation date.

In calculating benefits,

the following assumptions were applied:

voluntary retirement at age 65;

a rate of 45% for employer payroll contributions for all employees;

a 3% average annual salary increase;

an annual rate of turnover for all employees under 55 years of age and nil above;

the TH 00-02 mortality table for men and the TF 00-02 mortality table for women;

a discount rate of 3.8%.

The normal retirement age is 65 years,

but employees, including Messrs.

Benacin, Santi and Garcia-Pelayo, can collect reduced benefits if they retire at age 62.

Nonqualified Deferred Compensation

We do not maintain

any nonqualified deferred compensation plans.

CEO Pay Ratio

As required by Section

953(b) of the Dodd-Frank Wall Street Reform and Consumer Protection Act, and Item 402(u) of Regulation S-K, we are providing the

following information about the relationship of the annual total compensation of our mean employee and the annual total compensation

Jean Madar, Chief Executive Officer (the “CEO”):

2021, our last completed fiscal year:

Our median employee’s

compensation was $69,673

Our Chief Executive

Officer’s total 2021 compensation was $2,605,915

Accordingly, our

2021 CEO to Median Employee Pay Ratio was 37.4 to 1

pay ratio is a reasonable estimate calculated in a manner consistent with SEC rules based on our payroll and employment records.

We identified our median employee using our total employee population as of December 31, 2021 by applying a consistently applied

compensation measure across our global employee population.

For our consistently applied compensation measure, we used all compensation,

including actual base salary, bonuses, commissions, and any overtime paid during the 12-month period ending December 31, 2021.

We did not use any material estimates, assumptions, adjustments or statistical sampling to determine the worldwide median employee.

SEC rules for identifying the median compensated employee and calculating the pay ratio based on that employee’s annual

total compensation allow companies to adopt a variety of methodologies, to apply certain exclusions, and to make reasonable estimates

and assumptions that reflect their compensation practices.

As such, the pay ratio reported by other companies may not be comparable

to the pay ratio reported above, as other companies may have different employment and compensation practices and may utilize different

methodologies, exclusions, estimates and assumptions in calculating their own pay ratios.

and Consulting Agreements

part of our acquisition in 1991 of the controlling interest in Interparfums SA, now a subsidiary, we entered into an employment

agreement with Philippe Benacin.

The agreement provides that Mr.

Benacin will be employed as Vice Chairman of the Board and President

and Chief Executive Officer of Inter Parfums Holdings and its subsidiary, Interparfums SA.

The initial term expired on September

2, 1992, and has subsequently been automatically renewed for additional annual periods.

The agreement provides for automatic annual

renewal terms, unless either party terminates the agreement upon 120 days’ notice.

For 2021, Mr.

Benacin received an annual

salary of approximately $804,000, and automobile expenses of approximately $12,774 which are subject to increase at the discretion

of the board of directors.

The agreement also provides for indemnification and a covenant not to compete for one year after termination

of employment.

2014, we entered into a consulting agreement with Mr.

Benacin’s holding company, Philippe Benacin Holding SAS, which provides

for review on an annual basis of the amount of compensation payable to such company.

The agreement also provides for indemnification

Benacin and his holding company and a covenant not to compete for one year after termination of the agreement.

The agreement

was for one year, with automatic one year renewals unless either party terminates on 120 days’ notice or Mr.

Benacin ceases

to be the President of our company.

For 2019 through 2021 Mr.

Benacin’s personal holding company received $250,000 each

year for services rendered outside of the United States by Mr.

Benacin in his capacity as President.

In addition, in December

2018 and December 2019, we granted options to purchase 25,000 shares for the benefit of Mr.

Benacin, which were granted to his

personal holding company instead of Mr.

Benacin directly.

2013, we enter into a consulting agreement with Mr.

Madar’s holding company, Jean Madar Holding SAS, which provides for

review on an annual basis of the amount of compensation payable to such company.

The agreement also provides for indemnification

Madar and his holding company and a covenant not to compete for one year after termination of the agreement.

The agreement

was for one year, with automatic one year renewals unless either party terminates on 120 days’ notice or Mr.

to be the Chief Executive Officer of our company.

As discussed above, in view of receiving substantially less than the annual

and median average CEO salaries for peer companies and companies with comparable market capitalization, in early February 2020

Madar’s base salary was increased by $600,000 to $1.23 million effective as of January 1, 2020, and allocated so

that the annual base salary for Jean Madar individually was $285,000, and the fees to Jean Madar Holding SAS were $945,000, effective

as of January 1, 2020.

For 2021, the compensation to Mr.

Madar and the fees paid to Jean Madar Holding SAS were unchanged from

In addition, in December 2018 and December 2019, we granted options to purchase 25,000 shares for the benefit of Mr.

which were granted to his personal holding company instead of Mr.

Madar directly.

following table sets forth certain information relating to the compensation for each of our directors who is not an executive

officer of our Company named in the Summary Compensation Table for the past fiscal year.

Earned or Paid in Cash

For 2022, our last

completed fiscal year:

Our median employee’s compensation

Our Chief Executive Officer’s total 2022 compensation was $2,460,315

Accordingly, our 2022 CEO to Median Employee

Pay Ratio was 37.05 to 1

This pay ratio is a

reasonable estimate calculated in a manner consistent with SEC rules based on our payroll and employment records.

We identified

our median employee using our total employee population as of December 31, 2022 by applying a consistently applied compensation

measure across our global employee population.

For our consistently applied compensation measure, we used all compensation, including

actual base salary, bonuses, commissions, and any overtime paid during the 12-month period ending December 31, 2022.

use any material estimates, assumptions, adjustments or statistical sampling to determine the worldwide median employee.

The SEC rules for identifying

the median compensated employee and calculating the pay ratio based on that employee’s annual total compensation allow companies

to adopt a variety of methodologies, to apply certain exclusions, and to make reasonable estimates and assumptions that reflect

their compensation practices.

As such, the pay ratio reported by other companies may not be comparable to the pay ratio reported

above, as other companies may have different employment and compensation practices and may utilize different methodologies, exclusions,

estimates and assumptions in calculating their own pay ratios.

Employment and

Consulting Agreements

Please see our Annual

Report on Form 10-K for the year ended December 31, 2021, Item 11 under the heading “ Employment and Consulting Agreements ”

for a material terms of the employment agreement with Philippe Benacin, individually, and the consulting agreements with, and fees

and stock options previously granted to, Philippe Benacin Holding SAS and Jean Madar Holding SAS, which is incorporated by reference

The following table

sets forth certain information relating to the compensation for each of our directors who is not an executive officer of our Company

named in the Summary Compensation Table for the past fiscal year.

DIRECTOR COMPENSATION

Fees Earned or Paid in Cash

Incentive Plan Compensation

1 unchanged sentence

and Nonqualified Deferred Compensation Earnings

Other Compensation

All Other Compensation

Francois Heilbronn 2

4 unchanged sentences

Gilbert Harrison 7

from table above]

[Footnotes from table above]

Represents gain from exercise of stock options, except for Mr.

Harrison, which consists of a $120,000

payment made in 2021 to the company controlled by Mr.

Harrison, which consists of a $120,000 payment made in 2022 to the company controlled by Mr.

Harrison in connection with the acquisition of the Donna Karan license.

“Fee for Director’s Company” in Item 13, Certain Relationships and Related Transactions, and Director Independence,

in this annual report on Form 10-K.

As of the end of

the last fiscal year, Mr.

See “Fee for Director’s Company” in Item 13, Certain Relationships and Related Transactions, and Director Independence, in this annual report on Form 10-K.

As of the end of the last fiscal year, Mr.

Heilbronn held options to purchase an aggregate of 6,500 shares of our common stock.

As of the end of

the last fiscal year, Mr.

As of the end of the last fiscal year, Mr.

Bensoussan held options to purchase an aggregate of 7,500 shares of our common stock.

As of the end of

the last fiscal year, Mr.

As of the end of the last fiscal year, Mr.

Choël held options to purchase an aggregate of 5,750 shares of our common stock.

As of the end of

the last fiscal year, Mr.

As of the end of the last fiscal year, Mr.

Dyens held options to purchase an aggregate of 6,500 shares of our common stock.

As of the end of

the last fiscal year, Ms.

As of the end of the last fiscal year, Ms.

Gabai-Pinsky held options to purchase an aggregate of 7,500 shares of our common stock.

As of the end of

the last fiscal year, Mr.

As of the end of the last fiscal year, Mr.

Harrison held options to purchase an aggregate of 7,500 shares of our common stock.

July 2019 and compensation to all nonemployee directors was increased to $6,000 for each board meeting at which they participate

in person, and $3,000 for each meeting held by conference telephone.

In addition, effective January 1, 2020 the annual fee for

each member of the audit committee was raised to $8,000.

The compensation for the nonemployee directors remained the same for

2021, except for Mr.

All nonemployee directors

receive $6,000 for each board meeting at which they participate in person, and $3,000 for each meeting held by conference telephone.

In addition, the annual fee for each member of the audit committee is $8,000.

The compensation for the nonemployee directors remained

the same for 2021 and 2022, except for Mr.

During 2021, a company owned by Mr.

Harrison received a fee equal to $300,000, in connection with

the Donna Karan license agreement, which is effective on July 1, 2022.

A payment of $120,000 was made in 2021 to Mr.

company, and the balance will be paid, $120,000 one year later in 2022, and $60,000 two years later in 2023.

maintain stock option plans for our nonemployee directors.

The purpose of these plans is to assist us in attracting and retaining

Harrison received a fee equal to $300,000,

in connection with the Donna Karan license agreement, which is effective on July 1, 2022.

A payment of $120,000 was made in 2021

Harrison’s company, $120,000 was paid one year later in 2022, and $60,000 will be paid one year thereafter in 2023.

We maintain a stock

option plan for our nonemployee or independent directors.

The purpose of this plans is to assist us in attracting and retaining

key directors who are responsible for continuing the growth and success of our company.

Under such plans, options to purchase

1,500 shares are granted on each February 1st to all nonemployee directors for as long as each is a nonemployee director on such

However, if a nonemployee director does not attend certain of the board meetings, then such option grants are reduced according

to a schedule.

In addition, options to purchase 2,000 shares are granted to each nonemployee director upon his or her initial

election or appointment to our board, but if such option is granted within six months of the next February 1 automatic grant,

then such nonemployee director would not be eligible to receive that February 1 grant.

On February 1, 2021, options to purchase

1,500 shares were granted to all of our nonemployee directors at the exercise price of $62.18 per share under our 2016 Stock Option

However, our board of directors cancelled the automatic grant of options to the nonemployee directors effective with the

grant that had been scheduled for February 1, 2022.

Under such plan, until 2022 options to

purchase 1,500 shares are granted on each February 1st to all nonemployee directors for as long as each is a nonemployee director

on such date.

However, if a nonemployee director does not attend certain of the board meetings, then such option grants are reduced

according to a schedule.

However, our board of directors cancelled the automatic grant of options to the nonemployee directors

effective with the grant that had been scheduled for February 1, 2022.

After discussions Mr.

Atwood had with certain financial consultants relating to potential compensation plans in lieu of stock option grants to the Company’s

independent directors, and consultation between Messrs.

Madar and Atwood, it was determined that the most favorable way for the

nonemployee directors to be compensated was to amend the 2016 Stock Option Plan to reinstate the automatic grant of stock options

previously provided to nonemployee directors, commencing with a new automatic grant on the last business day of 2022, December

30, and continuing on the last business day of each year thereafter, subject to the approval of the shareholders of this Corporation

at the 2023 annual meeting of shareholders.

The automatic option grants to independent directors were approved by the Board of

Directors with the following changes:

Reinstatement of the automatic grant of nonqualified stock options to all nonemployee directors

was made without any discretion on the part of the Executive Compensation and Stock Option Committee, with the right to purchase

1,500 shares of the our common stock under our 2016 Stock Option Plan, as amended (the “2016 Stock Option Plan”), at

the purchase per share on the date of grant equal to the fair market value as determined in accordance with the 2016 Stock Option

Plan, each exercisable for a six (6) year period;

provided that, such options shall vest and become exercisable to purchase shares

of Common Stock as follows:

20% one year after the date of grant, and then 20% on each of the second, third, fourth and fifth consecutive

years from the date of grant on a cumulative basis, so that each option shall become fully vested and exercisable on the first

day of the sixth year from the date of grant, with the automatic grant date to commence on the last business day of this year,

December 30, 2022 and continuing on the last business day of each year thereafter, in lieu of the grant date on each February 1 st .

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

following table sets forth information with respect to the beneficial ownership of our common stock by (a) each person we know

to be the beneficial owner of more than 5% of our outstanding common stock, (b) our executive officers and directors and (c) all

of our directors and officers as a group.

The following table

sets forth information with respect to the beneficial ownership of our common stock by (a) each person we know to be the beneficial

owner of more than 5% of our outstanding common stock, (b) our executive officers and directors and (c) all of our directors and

officers as a group.

Madar and Benacin own 99.99% of their respective personal holding companies.

As of January 26, 2022, we had 31,836,545 shares of common stock outstanding.

and Address of Beneficial Owner

As of February 28, 2023,

we had 32,109,360 shares of common stock outstanding.

Name and Address of Beneficial Owner

c/o Interparfums SA

4, Rond Point des Champs Elysees

10 rue de Solférino

75007 Paris, France

1 unchanged sentence

c/o Interparfums SA

4, Rond Point des Champs Elysees

10 rue de Solférino

75007 Paris, France

Russell Greenberg

Michel Atwood

c/o Inter Parfums, Inc.

3 unchanged sentences

Interparfums SA

4, Rond Point des Champs Elysees

10 rue de Solférino

75008, Paris, France

5 unchanged sentences

52 Brook Street

W1K 5DS London

W1K 5DS London, UK

Patrick Choël

13 unchanged sentences

Interparfums SA

4, Rond Point des Champs Elysees

10 rue de Solférino

75008, Paris, France

5 unchanged sentences

Malvern, PA 19355

Ameriprise Financial, Inc.

Ameriprise Financial Center

Minneapolis, MN 55474

All Directors and Officers

(As a Group 10 Persons)

All shares of common

stock are directly held with sole voting power and sole power to dispose, unless otherwise stated.

Options which are exercisable

within 60 days are included in beneficial ownership calculations.

Consists of 13,000

shares held directly, 7,032,341 shares held indirectly through Jean Madar Holding SAS, a personal holding company, and options

to purchase 64,000 shares.

Consists of 6,846,064

shares held indirectly through Philippe Benacin Holding SAS, a personal holding company, and options to purchase 64,000 shares.

Consists of shares

7,500 shares held directly and options to purchase 70,000 shares.

Consists of options

to purchase shares.

Consists of 24,063

shares held directly and options to purchase 2,375 shares.

Consists of 7,500

shares held directly and options to purchase 2,375 shares.

Consists of 4,250

shares held directly and options to purchase 2,125 shares.

Consists of 4,000

shares held directly and options to purchase 2,875 shares.

Consists of shares

of common stock underlying options.

Consists of shares

of common stock underlying options.

Consists of shares

of common stock underlying options.

Information based

upon Schedule 13G Amendment 6 of Blackrock, Inc.

dated February 1, 2022 as filed with the Securities and Exchange Commission.

Information based

upon Schedule 13G Amendment 5 of The Vanguard Group, an investment advisor, dated February 9, 2022 as filed with the Securities

and Exchange Commission.

Information based

upon Schedule 13G Amendment 1 of Ameriprise Financial, Inc.

(“AFI”) dated February 14, 2022 as filed with the

Securities and Exchange Commission.

AFI disclaims beneficial ownership of any shares reported on this Schedule 13G.

Consists of 13,938,718

shares held directly or indirectly, and options to purchase 229,255 shares.

following table sets forth certain information as of the end of our last fiscal year regarding all equity compensation plans that

provide for the award of equity securities or the grant of options, warrants or rights to purchase our equity securities.

Compensation Plan Information

All shares of common stock are directly held with sole voting power and sole power to dispose, unless otherwise stated.

Options which are exercisable within 60 days are included in beneficial ownership calculations.

Consists of 24,400 shares held directly, 7,032,341 shares held indirectly through Jean Madar Holding SAS, a personal holding company, and options to purchase 60,000 shares.

Consists of 6,846,064 shares held indirectly through Philippe Benacin Holding SAS, a personal holding company, and options to purchase 60,000 shares.

Consists of shares of common stock underlying options for Mr.

Consists of 26,063 shares held directly and options to purchase 2,875 shares for Mr.

Consists of 7,500 shares held directly and options to purchase 2,875 shares for Mr.

Consists of 4,250 shares held directly and

options to purchase 2,825 shares for Mr.

Consists of 5,000 shares held directly and options to purchase 2,875 shares for Mr.

Consists of shares of common stock underlying options for Ms.

Gabai-Pinsky.

Consists of shares of common stock underlying options for Mr.

Garcia-Pelayo.

Information based upon Schedule 13G of Blackrock, Inc.

dated January 25, 2023 as filed with the Securities and Exchange Commission.

Information based upon Schedule 13G Amendment 5 of The Vanguard Group, an investment advisor, dated February 9, 2023 as filed with the Securities and Exchange Commission.

Consists of 13,945,618 shares held directly

or indirectly, and options to purchase 152,050 shares.

The following table

sets forth certain information as of the end of our last fiscal year regarding all equity compensation plans that provide for the

award of equity securities or the grant of options, warrants or rights to purchase our equity securities.

Equity Compensation Plan Information

Plan category

securities to

4 unchanged sentences

future issuance

Equity compensation plans

approved by security holders

Equity compensation plans not approved by security

Certain Relationships and Related Transactions, and Director Independence

with European Subsidiaries

have guaranteed the obligations of our majority-owned, French subsidiary, Interparfums SA under our expired Paul Smith license

We also provide (or had provided on our behalf) certain financial, accounting and legal services for Interparfums SA,

and during 2021, 2020 and 2019 fees for such services were $443,625, $450,750 and $483,675, respectively.

2018, Interparfums SA, loaned the Company $10 million.

This loan was repayable in ten (10) equal monthly payments of $1 million

of principal plus accrued interest at 2% per annum, with the first payment made on May 31, 2019, and the last payment made on

February 28, 2020.

March 2020, Interparfums Luxury Brands, Inc., an indirect majority-owned subsidiary of the Company, loaned the Company $10 million,

which was repaid in full, with interest at 2% per annum, in December 2020.

September 2021, Interparfums Luxury Brands, Inc., an indirect majority-owned subsidiary of the Company, loaned the Company $24

million, which is repayable in 12 equal monthly payments with interest at 2% per annum commencing on January 31, 2022.

December 2021, Inter Parfums USA, LLC, a United States subsidiary, renewed a license agreement for five years that was initially

signed in 2012 on the same terms with Interparfums Suisse (SARL), a Swiss subsidiary of Interparfums SA, for the right to sell

amenities under the Lanvin brand name to luxury hotels, cruise lines and airlines in return for royalty payments as are customary

in our industry.

for Director’s Company

connection with the acquisition of the Donna Karan license, which takes effect on July 1, 2022 as discussed above, we agreed to

pay to the company controlled by Mr.

Gilbert Harrison, a director, the sum of $300,000, payable over time, with $120,000 being

paid in 2021, and deferred payments of $120,000 one year later and $60,000 two years later.

2014, we entered into a consulting agreement with Mr.

Benacin’s holding company, Philippe Benacin Holding SAS, which provides

for review on an annual basis of the amount of compensation payable to such company.

The agreement also provides for indemnification

Benacin and his holding company and a covenant not to compete for one year after termination of the agreement.

The agreement

was for one year, with automatic one year renewals unless either party terminates on 120 days’ notice or Mr.

Benacin ceases

to be the President of our company.

For 2015 through 2021 Mr.

Benacin’s personal holding company received $250,000 each

year for services rendered outside of the United States by Mr.

Benacin in his capacity as President.

In addition, in December

2018 and December 2019, we granted options to purchase 25,000 shares for the benefit of Mr.

Benacin, which were granted to his

personal holding company instead of Mr.

Benacin directly.

2013, we enter into a consulting agreement with Mr.

Madar’s holding company, Jean Madar Holding SAS, which provides for

review on an annual basis of the amount of compensation payable to such company.

The agreement also provides for indemnification

Madar and his holding company and a covenant not to compete for one year after termination of the agreement.

The agreement

was for one year, with automatic one year renewals unless either party terminates on 120 days’ notice or Mr.

to be the Chief Executive Officer of our company.

As discussed above, in view of receiving substantially less than the annual

and median average CEO salaries for peer companies and companies with comparable market capitalization, in early February 2020

Madar’s base salary was increased by $600,000 to $1.23 million effective January 1, 2020, and allocated so that

the annual base salary for Jean Madar individually was $285,000, and the fees to Jean Madar Holding SAS were $945,000.

the compensation to Mr.

Madar and the fees paid to Jean Madar Holding SAS were unchanged from 2020.

In addition, in December 2018

and again in December 2019, we granted options to purchase 25,000 shares for the benefit of Mr.

Madar, which were granted to his

personal holding company rather than to Mr.

Madar directly.

for Approval of Related Person Transactions

between related persons, such as between an executive officer or director and our company, or any company or person controlled

by such officer or director, are required to be approved by our Audit Committee of our board of directors.

Our Audit Committee

Charter contains such explicit authority, as required by the applicable rules of The Nasdaq Stock Market.

following are our directors who are independent directors within the applicable rules of The Nasdaq Stock Market:

follow and comply with the independent director definitions as provided by The Nasdaq Stock Market rules in determining the independence

of our directors, which are posted on our company’s website.

In addition, such rules are also available on The Nasdaq Stock

Market’s website.

In addition, The Nasdaq Stock Market maintains more stringent rules relating to director independence

for the members of our Audit Committee, and the members of our Audit Committee, Messrs.

Equity compensation plans approved by security

Equity compensation plans not approved by security holders

Certain Relationships and Related

Transactions, and Director Independence

Transactions with European Subsidiaries

We also provide

(or had provided on our behalf) certain financial, accounting and legal services for Interparfums SA, and during 2022, 2021 and

2020 fees for such services were $491,300, $443,625 and $450,750, respectively.

In September 2021,

Interparfums Luxury Brands, Inc., an indirect majority-owned subsidiary of the Company, loaned the Company $24 million, which is

repayable in 12 equal monthly payments with interest at 2% per annum commencing on January 31, 2022.

In December 2021, Inter

Parfums USA, LLC, a United States subsidiary, renewed a license agreement for five years that was initially signed in 2012 on the

same terms with Interparfums Suisse (SARL), a Swiss subsidiary of Interparfums SA, for the right to sell amenities under the Lanvin

brand name to luxury hotels, cruise lines and airlines in return for royalty payments as are customary in our industry.

In September 2022,

Interparfums Luxury Brands, Inc.

loaned the Company $10 million, which is repayable in one lump sum on June 30, 2023 with interest

at 3.5% per annum.

In addition, the $2 million payment due on September 30, 2022 by the Company against the loan made in September

2021 was postponed to January 31, 2023 together with interest at 2% per annum.

Fee for Director’s Company

In connection with

the acquisition of the Donna Karan license, which became effective on July 1, 2022 as discussed above, we agreed to pay to a company

controlled by Mr.

Gilbert Harrison, a director, the sum of $300,000, payable over time, with $120,000 paid in 2021, $120,000 paid

one year later in 2022 and $60,000 due two years later in 2023.

Consulting Agreements

Please see our Annual

Report on Form 10-K for the year ended December 31, 2021, Item 11 under the heading “ Employment and Consulting Agreements ”

for a material terms of the employment agreement with Philippe Benacin, individually, and the consulting agreements with, and fees

and stock options previously granted to, Philippe Benacin Holding SAS and Jean Madar Holding SAS, which is incorporated by reference

Procedures for Approval of Related

Person Transactions

Transactions between

related persons, such as between an executive officer or director and our company, or any company or person controlled by such

officer or director, are required to be approved by our Audit Committee of our board of directors.

Our Audit Committee Charter

contains such explicit authority, as required by the applicable rules of The Nasdaq Stock Market.

The following are our

directors who are independent directors within the applicable rules of The Nasdaq Stock Market:

Francois Heilbronn

Robert Bensoussan

Patrick Choël

Veronique Gabai-Pinsky

Gilbert Harrison

We follow and comply

with the independent director definitions as provided by The Nasdaq Stock Market rules in determining the independence of our directors,

which are posted on our company’s website.

In addition, such rules are also available on The Nasdaq Stock Market’s

In addition, The Nasdaq Stock Market maintains more stringent rules relating to director independence for the members

of our Audit Committee, and the members of our Audit Committee, Messrs.

Heilbronn and Choël, as well as Ms.

Gabai-Pinsky, are independent within the meaning of those rules.

Leadership Structure and Risk Management

more than the past ten (10) years, Jean Madar has held the positions of Chairman of the Board of Directors and Chief Executive

Officer of our company.

Almost since inception, Mr.

Madar has been allocated the responsibility of overseeing our United States

operations and the operation of Inter Parfums, Inc., as a public company.

Philippe Benacin, as Chief Executive Officer of Interparfums

SA, has been allocated the responsibility of overseeing our European operations and its operation as a public company in France.

In addition, Mr.

Benacin is also the Vice Chairman of the Board of Directors of our company.

Our board of directors is comfortable

with this approach, as the two largest beneficial stockholders of our company are also directly responsible for the operations

of our company’s two operating segments.

Accordingly, our board of directors does not have a “Lead Director,”

a non-management director who controls the meetings of our board of directors.

board of directors manages risk by (i) review of periodic operating reports and discussions with management;

(ii) approval of

executive compensation incentive plans through its committee, the Executive Compensation and Stock Option Committee;

(iii) approval

of related party transactions through its committee, the Audit Committee;

and (iv) approval of material transactions not in the

ordinary course of business.

Since our inception, we have never been the subject of any material product liability claims, and

we have had no recent material property damage claims.

we periodically enter into foreign currency forward exchange contracts to hedge exposure related to receivables denominated in

a foreign currency and to manage risks related to future sales expected to be denominated in a foreign currency.

We enter into

these exchange contracts for periods consistent with our identified exposures.

The purpose of the hedging activities is to minimize

the effect of foreign exchange rate movements on the receivables and cash flows of Interparfums SA, our French subsidiary, whose

functional currency is the Euro.

All foreign currency contracts are denominated in currencies of major industrial countries and

are with large financial institutions, which are rated as strong investment grade .

addition, we mitigate interest rate risk by continually monitoring interest rates, and then determining whether fixed interest

rates should be swapped for floating rate debt, or if floating rate debt should be swapped for fixed rate debt.

Principal Accountant Fees and Services

following sets forth the fees billed to us by Mazars USA LLP, as well as discusses the services provided for the past two fiscal

years, fiscal years ended December 31, 2021 and December 31, 2020.

Gabai-Pinsky,

are independent within the meaning of those rules.

Board Leadership Structure and Risk

Please see our Annual

Report on Form 10-K for the year ended December 31, 2021, Item 13.

Certain Relationships and Related Transactions, and Director

Independence, under the heading “ Board Leadership Structure and Risk Management ,” for prior disclosure

on this topic, which is incorporated by reference herein.

Principal Accountant Fees and

The following sets

forth the fees billed to us by Mazars USA LLP, as well as discusses the services provided for the past two fiscal years, fiscal

years ended December 31, 2022 and December 31, 2021.

billed by Mazars USA LLP and its affiliate, Mazars S.A.

for audit services and review of the financial statements contained in

our Quarterly Reports on Form 10-Q were $1.2 and $1.1 and million for 2021 and 2020, respectively.

Audit-Related

our Quarterly Reports on Form 10-Q were $1.4 million and $1.2 and million for 2022 and 2021, respectively.

Audit-Related Fees

USA LLP did not bill us for any audit-related services during 2022 and 2021.

Mazars USA LLP billed

us $49,300 and $34,500 for tax services during 2021 and 2020, respectively.

us $3,000 and $3,500 for other services during 2021 and 2020, respectively.

Committee Pre-Approval Policies and Procedures

Audit Committee has the sole authority for the appointment, compensation and oversight of the work of our independent accountants,

who prepare or issue an audit report for us.

the second quarter of 2021, the audit committee authorized the following non-audit services to be performed by Mazars USA LLP.

We authorized the

engagement of Mazars USA LLP if deemed necessary to provide tax consultation in the ordinary course of business for fiscal

year ended December 31, 2021.

We authorized the

engagement of Mazars USA LLP if deemed necessary to provide tax consultation as may be required on a project by project basis

that would not be considered in the ordinary course of business, up to a $10,000 fee limit per project (or €10,000 in

the case of Interparfums SA), subject to an aggregate fee limit of $50,000 for fiscal year ended December 31, 2021.

require further tax services from Mazars USA LLP, then the approval of the audit committee must be obtained.

We authorized the

engagement of Mazars USA LLP if deemed necessary to provide attestation or other services as may be required on a project

by project basis that would not be considered in the ordinary course of business, up to a $10,000 fee limit per project (or

€10,000 in the case of Interparfums SA), subject to an aggregate fee limit of $50,000 for fiscal year ended December

USA did not bill us in 2022 for any tax services.

Tax services billed to us during 2021 was $49,300.

All Other Fees

billed us $6,000 and $3,000 for other services during 2022 and 2021, respectively.

Audit Committee Pre-Approval Policies

and Procedures

The Audit Committee

has the sole authority for the appointment, compensation and oversight of the work of our independent accountants, who prepare

or issue an audit report for us.

During the first quarter

of 2022, the audit committee authorized the following non-audit services to be performed by Mazars USA LLP.

We authorized the engagement of Mazars USA LLP if deemed necessary to provide tax consultation in the ordinary course of business for fiscal year ended December 31, 2022.

We authorized the engagement of Mazars USA LLP if deemed necessary to provide tax consultation as may be required on a project by project basis that would not be considered in the ordinary course of business, up to a $10,000 fee limit per project (or €10,000 in the case of Interparfums SA), subject to an aggregate fee limit of $50,000 for fiscal year ended December 31, 2022.

If we require further tax services from Mazars USA LLP, then the approval of the audit committee must be obtained.

If we require other

services by Mazars USA LLP on an expedited basis such that obtaining pre-approval of the audit committee is not practicable,

then the Chairman of the Committee has authority to grant the required pre-approvals for all such services.

We imposed a cap

of $100,000 on the fees that Mazars USA LLP can charge for services on an expedited basis that are approved by the Chairman

without obtaining full audit committee approval.

None of the non-audit

services of either of the Company’s auditors had the pre-approval requirement waived in accordance with Rule 2-01(c)(7)(i)(C)

of Regulation S-X.

Exhibits, Financial Statement Schedules

Financial Statements annexed hereto

We authorized the engagement of Mazars USA LLP if deemed necessary to provide attestation or other services as may be required on a project by project basis that would not be considered in the ordinary course of business, up to a $10,000 fee limit per project (or €10,000 in the case of Interparfums SA), subject to an aggregate fee limit of $50,000 for fiscal year ended December 31, 2022.

If we require further tax services from Mazars USA LLP, then the approval of the audit committee must be obtained.

If we require other services by Mazars USA LLP on an expedited basis such that obtaining pre-approval of the audit committee is not practicable, then the Chairman of the Committee has authority to grant the required pre-approvals for all such services.

We imposed a cap of $100,000 on the fees that Mazars USA LLP can charge for services on an expedited basis that are approved by the Chairman without obtaining full audit committee approval.

None of the non-audit services of either of the Company’s auditors had the pre-approval requirement waived in accordance with Rule 2-01(c)(7)(i)(C) of Regulation S-X.

Exhibits, Financial Statement

( a)(1) Financial Statements annexed hereto

Report of Independent Registered Public Accounting Firm

Financial Statements:

Audited Financial Statements:

Consolidated Balance Sheets as of December 31, 2022 and 2021

Consolidated Statements of Income for each of the years in the three-year period ended December 31, 2022

Consolidated Statements of Comprehensive Income (Loss) for each of the years in the three-year period ended December 31, 2021

Consolidated Statements of Comprehensive Income for each of the years in the three-year period ended December 31, 2022

Consolidated Statements of Changes in Shareholders’ Equity for each of the years in the three-year period ended December 31, 2022

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Notes to Consolidated Financial Statements

Financial Statement Schedule:

(a)(2) Financial Statement Schedule:

Schedule II – Valuation and Qualifying Accounts

Exhibits – The list of exhibits is contained in the Exhibit Index, which follows the signature page of this report.

(a)(3) Exhibits – The list of exhibits is contained in the

Exhibit Index, which follows the signature page of this report.

Form 10-K Summary

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regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with

the standards of the PCAOB.

Those standards require that we plan and perform the audits to obtain reasonable assurance about whether

the financial statements are free of material misstatement, whether due to error or fraud, and whether effective internal control

over financial reporting was maintained in all material respects.

We conducted our audits in accordance

with the standards of the PCAOB.

Those standards require that we plan and perform the audits to obtain reasonable assurance about

whether the financial statements are free of material misstatement, whether due to error or fraud, and whether effective internal

control over financial reporting was maintained in all material respects.

Our audits of the consolidated financial

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(1) relates to accounts or disclosures that are material to the consolidated

financial statements and (2) involved our especially challenging, subjective, or complex judgments.

The communication of critical

financial statements and (2) involved especially challenging, subjective, or complex judgments.

The communication of the critical

audit matter does not alter in any way our opinion on the consolidated financial statements, taken as a whole, and we are not,

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fees to acquire or enter into a license.

Those intangible assets are

tested for impairment as follows:

Those intangible assets are tested for

impairment as follows:

- Indefinite - life intangible assets are tested for impairment at least annually at the reporting

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We identified the impairment assessment

of intangible assets as a critical audit matter and auditing management’s judgments regarding the evaluation of impairment

indicators, forecasts of future revenue and operating margin, and the discount rate to be applied involve a high degree of subjectivity.

of intangible assets as a critical audit matter as auditing management’s judgments regarding the evaluation of impairment

indicators, forecasts of future revenue, operating margin, and the discount rate to be applied involve a high degree of subjectivity.

The primary procedures we performed to

address this critical audit matter included:

► Reviewing the analysis of the identification of impairment evidence for each indefinite and finite-life

asset based on three indicators (sales analysis, new products launches, payment of minimum guarantees), and then corroborating

that analysis with external information and evidence obtained in other areas of the audit.

► Testing the effectiveness of controls relating to management’s impairment tests, including controls

over the impairment indicators and determination of the future cash flows.

► In testing management’s process for determining the future cash flows we evaluated the reasonableness

of management’s forecasts of future revenue and operating margin by performing a retrospective review in comparing these

forecasts to historical operating results, evaluating whether the assumptions used were reasonable considering current information

as well as future expectations, and using additional evidence obtained in other areas of the audit.

► Utilizing a valuation specialist to assist in auditing the discount rate.

It includes evaluating whether

the assumptions used were reasonable by comparing to third party market data.

► Reviewing the analysis of the identification

of impairment evidence for each indefinite and finite-life asset based on three indicators (sales analysis, new products launches,

and payment of minimum guarantees), and then corroborating that analysis with external information and evidence obtained in other

areas of the audit.

► Testing the effectiveness of controls

relating to management’s impairment tests, including controls over the impairment indicators and determination of the future

► In testing management’s process

for determining the future cash flows we evaluated the reasonableness of management’s forecasts of future revenue and operating

margin by performing a retrospective review in comparing these forecasts to historical operating results, evaluating whether the

assumptions used were reasonable considering current information as well as future expectations, and using additional evidence

obtained in other areas of the audit.

► Utilizing a valuation specialist

to assist in auditing the discount rate.

It includes evaluating whether the assumptions used were reasonable by comparing to third

party market data.

Mazars USA LLP

/s/ Mazars USA LLP

We have served as the Company's auditor since 2004.

We have served as the Company's auditor

New York, New York

March 1, 2022

February 28, 2023

INTER PARFUMS, INC.

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December 31, 2022, and 2021

(In thousands except share and per share data)

(In thousands except share and per share

Current assets:

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Authorized 100,000,000 shares:

outstanding, 31,830,420 and 31,608,588 shares at December 31, 2021 and 2020, respectively

outstanding, 31,967,300 and 31,830,420 shares on December 31, 2022, and 2021, respectively

Additional paid-in capital

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Accumulated other comprehensive loss

Treasury stock, at cost, 9,864,805 common shares at December 31, 2021 and 2020

Treasury stock, at cost, 9,864,805 common shares on December 31, 2022, and 2021

Total Inter Parfums, Inc.

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AND SUBSIDIARIES

Statements of Income

ended December 31, 2021, 2020, and 2019

(In thousands except share and per share data)

Consolidated Statements of Income

Years ended December 31, 2022, 2021, and

(In thousands except share and per share

Cost of sales

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Interest expense

(Gain) loss on foreign currency

Loss (gain) on foreign currency

Interest and investment income

Other expenses (income)

Other loss (income)

Nonoperating Income (Expense)

Income before income taxes

Net income attributable

to the noncontrolling interest

Net income attributable to the

noncontrolling interest

Net income attributable to Inter Parfums, Inc.

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AND SUBSIDIARIES

Consolidated Statements

of Comprehensive Income

Years ended December 31, 2021, 2020,

(In thousands except share and per share

Consolidated Statements of Comprehensive Income

Years ended December 31, 2022, 2021, and 2020

(In thousands except share and per share data)

Other comprehensive income:

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Transfer of OCI into earnings

Translation adjustments, net of tax

adjustments, net of tax

Other comprehensive income (loss), before tax

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Comprehensive income attributable to noncontrolling interests:

Net derivative instrument loss, net of tax

Net derivative instrument income (loss), net of tax

Translation adjustments, net of tax

Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest

Comprehensive income (loss), net of tax, atributable

to noncontrolling interest

Comprehensive income attributable to Inter Parfums Inc.

See accompanying notes to consolidated financial statements.

PARFUMS, INC.

INTER PARFUMS, INC.

AND SUBSIDIARIES

Statements of Changes in Shareholders’ Equity

ended December 31, 2021, 2020, and 2019

Consolidated Statements of Changes in Shareholders’ Equity

Years ended December 31, 2022, 2021, and 2020

(In thousands except share and per share data)

Common stock, beginning of year

Shares issued upon exercise of stock

Shares issued upon exercise of stock options

Common stock, end of year

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Transfer from other comprehensive income into earnings

Net derivative instrument gain (loss), net of tax

Net derivative instrument income (loss), net of tax

Accumulated other comprehensive loss, end of year

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Foreign currency translation adjustment, net of tax

Net derivative instrument loss, net of tax

Purchase of subsidiary shares from noncontrolling interests

Net derivative instrument income (loss), net of tax

Share-based compensation

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Cash flows from operating activities:

Adjustments to reconcile net income to net cash

provided by operating activities:

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation and amortization including impairment loss

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December 31, 2022, 2021 and 2020

(In thousands except share and per share data)

(In thousands except share and per share

(1) The Company and its Significant Accounting Policies

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December 31, 2022, 2021 and 2020

(In thousands except share and per share data)

(In thousands except share and per share

Accounts Receivable

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realizable value, with cost being determined on the first-in, first-out method.

Cost components include raw materials, direct

labor and overhead (e.g., indirect labor, utilities, depreciation, purchasing, receiving, inspection and warehousing) as well as

inbound freight.

Promotional merchandise is charged to cost of sales at the time the merchandise is shipped to the Company’s

Cost components include raw materials, direct labor

and overhead (e.g., indirect labor, utilities, depreciation, purchasing, receiving, inspection and warehousing) as well as inbound

Promotional merchandise is charged to cost of sales at the time the merchandise is shipped to the Company’s customers.

All derivative instruments are

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Depreciation and amortization are provided using

the straight-line method over the estimated useful lives for equipment, which range between three and ten years and the shorter

the straight-line method over the estimated useful lives for equipt, which range between three and ten years and the shorter

of the lease term or estimated useful asset lives for leasehold improvements.

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December 31, 2022, 2021 and 2020

(In thousands except share and per share data)

(In thousands except share and per share

Long-Lived Assets

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Sales of such products by our domestic subsidiaries

are denominated in U.S.

dollars, and sales of such products by our foreign subsidiaries are primarily denominated in either euro

The Company recognizes revenues when contract terms are met, the price is fixed and determinable, collectability

is reasonably assured, and control of the assets has passed to the customer based on the agreed upon shipping terms.

are comprised of gross revenues less returns, trade discounts and allowances.

The Company does not bill its customers’ freight

and handling charges.

All shipping and handling costs, which aggregated $ 10.1 million , $ 5.0 million and $ 7.7 million in 2021, 2020

and 2019, respectively, are included in selling, general and administrative expenses in the consolidated statements of income.

The Company grants credit to all qualified customers and does not believe it is exposed significantly to any undue concentration

of credit risk.

are denominated primarily in U.S.

dollars, and sales of such products by our foreign subsidiaries are primarily denominated in

either euro or U.S.

The Company recognizes revenues when contract terms are met, the price is fixed and determinable,

collectability is reasonably assured, and control of the assets has passed to the customer based on the agreed upon shipping terms.

Net sales are comprised of gross revenues less returns, trade discounts and allowances.

The Company does not bill its customers’

freight and handling charges.

All shipping and handling costs, which aggregated $ 15.8 million , $1 0.0 million and $ 5.0 million

in 2022, 2021 and 2020, respectively, are included in selling, general and administrative expenses in the consolidated statements

The Company grants credit to all qualified customers and does not believe it is exposed significantly to any undue

concentration of credit risk.

No one customer represented 10 % or more of net sales in 2022, 2021 or 2020.

INTER PARFUMS, INC.

AND SUBSIDIARIES

Notes to Consolidated Financial Statements

December 31, 2022, 2021 and 2020

(In thousands except share and per share

Sales Returns

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from our estimates, if factors such as economic conditions, inventory levels or competitive conditions differ from our expectations.

INTER PARFUMS, INC.

AND SUBSIDIARIES

Notes to Consolidated Financial Statements

December 31, 2021, 2020 and 2019

(In thousands except share and per share data)

Payments to Customers

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and obligations are recognized at the lease commencement date based on the present value of lease payments over the lease term.

INTER PARFUMS, INC.

AND SUBSIDIARIES

Notes to Consolidated Financial Statements

December 31, 2022, 2021 and 2020

(In thousands except share and per share

License Agreements

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renewable subject to the Company’s compliance with the license agreement provisions.

The remaining terms, excluding

potential renewal periods, range from approximately 1 to 12 years.

Under each license, the Company is required to pay royalties

in the range of 6 % to 10 % to the licensor, at least annually, based on net sales to third parties.

The remaining terms, excluding potential

renewal periods, range from approximately 1 to 12 years.

Under each license, the Company is required to pay royalties in the range

of 6 % to 10 % to the licensor, at least annually, based on net sales to third parties.

In certain cases, the Company

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at the time these costs are incurred.

INTER PARFUMS, INC.

AND SUBSIDIARIES

Notes to Consolidated Financial Statements

December 31, 2021, 2020 and 2019

(In thousands except share and per share data)

In addition, the Company is exposed

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future tax consequences of events that have been recognized in its financial statements or tax returns.

The net deferred tax

assets assume sufficient future earnings for their realization, as well as the continued application of currently enacted tax rates.

The net deferred tax assets

assume sufficient future earnings for their realization, as well as the continued application of currently enacted tax rates.

in net deferred tax assets is a valuation allowance for deferred tax assets, where management believes it is more-likely-than-not

that the deferred tax assets will not be realized in the relevant jurisdiction.

If the Company determines that a deferred

tax asset will not be realizable, an adjustment to the deferred tax asset will result in a reduction of net earnings at that time.

Accrued interest and penalties are included within the related tax asset or liability in the accompanying financial statements.

If the Company determines that a deferred tax asset

will not be realizable, an adjustment to the deferred tax asset will result in a reduction of net earnings at that time.

interest and penalties are included within the related tax asset or liability in the accompanying financial statements.

Issuance of Common Stock

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time without notice.

Recent Accounting Pronouncements

In June 2016, the Financial Accounting

Standards Board (“FASB”) issued ASU 2016-13, “Financial Instruments - Credit Losses (Topic 326):

of Credit Losses on Financial Instruments”, as updated in 2019 and 2020, which require a financial asset measured at amortized

cost basis to be presented at the net amount expected to be collected.

The new rules eliminate the probable initial recognition

threshold and, instead, reflect an entity’s current estimate of all expected credit losses.

The new rules took effect for

the Company in the first quarter of 2020 and there was no material impact on our consolidated financial statements.

There are no other recent accounting

pronouncements issued but not yet adopted that would have a material effect on our consolidated financial statements.

Reclassifications

Certain prior year’s amounts

in the accompanying consolidated statements of cash flows have been reclassified to conform to current period presentation.

INTER PARFUMS, INC.

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December 31, 2022, 2021 and 2020

(In thousands except share and per share data)

(In thousands except share and per share

(2) Impact of COVID-19 Pandemic

A novel strain of coronavirus

(“COVID-19”) surfaced in late 2019 and has spread around the world, including to the United States and France.

2020, the World Health Organization declared COVID-19 a pandemic.

In response to the COVID-19 pandemic

various national, state, and local governments where we, our suppliers, and our customers operate initially issued decrees prohibiting

certain businesses from continuing to operate and certain classes of workers from reporting to work.

In all jurisdictions in which

we operate we have been following guidance from authorities and health officials.

The effects of the COVID-19 pandemic

on the beauty industry began in early March 2020.

Retail store closings, event cancellations and a shutdown of international air

travel brought our sales to a virtual standstill and caused a significant unfavorable impact on our results of operations in 2020.

(“COVID-19”) surfaced in late 2019 and in March 2020, the World Health Organization declared COVID-19 a pandemic.

response, various national, state, and local governments issued decrees prohibiting certain businesses from operating and certain

classes of workers from reporting to work.

Retail store closings, event

cancellations and a shutdown of international air travel brought our sales to a virtual standstill and caused a significant unfavorable

impact on our results of operations in 2020.

Business significantly improved

in the second half of 2020 and continued to improve throughout 2021, as retail stores reopened, and consumers increased online

While we expect this trend to continue, as the luxury fragrance industry has shown continued resilience, the introduction

of variants of COVID-19 in various parts of the world has caused the temporary re-implementation of governmental restrictions to

prevent further spread of the virus.

In addition, international air travel has remained curtailed in many jurisdictions due to

both governmental restrictions and consumer health concerns.

While COVID-19 has significantly restricted international travel in

the near-term, we continue to believe that global travel retail will once again be a growth opportunity for the long-term.

the improved economy has put significant strains on our supply chain causing disruptions affecting the procurement of components,

the ability to transport goods, and related cost increases.

These disruptions have come at a time when demand for our product lines

has never been stronger or more sustained.

We have been addressing this issue since the beginning of 2021, by ordering well in

advance of need and in larger quantities.

Going forward, we aim to carry more inventory overall, source the same components from

multiple suppliers and when possible, manufacture products closer to where they are sold.

We do not expect the supply chain bottlenecks

to begin lifting until later in 2022.

Therefore, despite recent business improvement, the impact of the COVID-19 pandemic may have

a material adverse effect on our results of our operations, financial position and cash flows through at least the end of 2022.

in the second half of 2020 and continued to improve throughout 2021 and 2022, as retail stores reopened, and consumers increased

online purchasing.

While we expect this trend to continue, the introduction of variants of COVID-19 in various parts of the world

has caused the temporary re-implementation of governmental restrictions to prevent further spread of the virus.

In addition, international

air travel remains curtailed in many jurisdictions due to both governmental restrictions and consumer health concerns.

While COVID-19

has significantly restricted international travel, the travel retail business is beginning to pick up.

Lastly, the improved economy

has put significant strains on our supply chain causing disruptions affecting the procurement of components, the ability to transport

goods, and related cost increases.

These disruptions have come at a time when demand for our product lines has never been stronger

or more sustained.

We have been addressing this issue since the beginning of 2021, by ordering well in advance of need and in

larger quantities.

Since 2021, we have strived to carry more inventory overall, source the same components from multiple suppliers

and when possible, manufacture products closer to where they are sold.

We do not expect the supply chain bottlenecks to begin

lifting until the second half of 2023.

Therefore, despite recent business improvement, the impact of the COVID-19 pandemic might

continue to have adverse effects on our results of our operations, financial position and cash flows through at least the first

half of 2023.

(3) Recent Agreements

In December 2022, we closed a

transaction agreement with Lacoste, whereby an exclusive and worldwide license was granted for the production and distribution

of Lacoste brand perfumes and cosmetics.

Our rights under this license are subject to certain minimum advertising expenditures

and royalty payments as are customary in our industry.

The license becomes effective in January 2024 and will last for 15 years.

In April 2022, we announced that

the Dunhill fragrance license will expire on September 30, 2023 and will not be renewed.

The Company will continue to produce and

sell Dunhill fragrances until the license expires and will maintain the right to sell-off remaining Dunhill fragrance inventory

for a limited time as is customary in the fragrance industry.

INTER PARFUMS, INC.

AND SUBSIDIARIES

Notes to Consolidated Financial Statements

December 31, 2022, 2021 and 2020

(In thousands except share and per share

Salvatore Ferragamo

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with a 5-year optional term, subject to certain conditions.

INTER PARFUMS, INC.

AND SUBSIDIARIES

Notes to Consolidated Financial Statements

December 31, 2021, 2020 and 2019

(In thousands except share and per share data)

With respect to the management

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was accounted for as an asset acquisition.

The following table summarizes the estimated fair values of the assets acquired and

liabilities assumed on October 1, 2021.

All amounts have been translated to U.S.

dollars at the October 1, 2021 exchange rate.

Trademarks and licenses

Assets acquired

Liabilities assumed

Emanuel Ungaro

In October 2021, we also entered into a 10-year exclusive global licensing agreement a with a 5-year optional

term subject to certain conditions, with Emanuel Ungaro Italia S.r.l, for the creation, development and distribution of fragrances

and fragrance-related products, under the Emanuel Ungaro brand.

Our rights under this license are subject to certain minimum advertising

expenditures and royalty payments as are customary in our industry.

In October 2021, we also entered

into a 10-year exclusive global licensing agreement a with a 5-year optional term subject to certain conditions, with Emanuel Ungaro

Italia S.r.l, for the creation, development and distribution of fragrances and fragrance-related products, under the Emanuel Ungaro

Our rights under this license are subject to certain minimum advertising expenditures and royalty payments as are customary

in our industry.

Donna Karan and DKNY

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fragrances under these brands in 2024.

French Tax Settlement

The French authorities had considered

that the existence of IP Suisse, a wholly-owned subsidiary of Interparfums SA, does not, in and of itself, constitute a permanent

establishment and therefore Interparfums SA should pay French taxes on all or part of the profits of that entity.

In June 2021, a global settlement

agreement was reached with the French Tax Authorities, whereby Interparfums SA paid in December 2021, € 2.5 million (approximately

$ 2.9 million ) effectively lowering the Lanvin brand royalty rate charged by IP Suisse for the periods from 2017 through 2020.

SA also agreed to apply the lower rate in 2021 through 2025 and to transfer the Lanvin brand from IP Suisse to Interparfums SA

by December 31, 2025.

Land and Building Acquisition

- Future Headquarters in Paris

In April 2021, Interparfums SA,

completed the acquisition of its future headquarters at 10 rue de Solférino in the 7th arrondissement of Paris from the

property developer.

This is an office complex combining three buildings connected by two inner courtyards, and consists of approximately

40,000 total sq.

Rochas Fashion

Effective January 1, 2021,

we entered into a new license agreement modifying our Rochas fashion business model.

The new agreement calls for a reduction in

royalties to be received.

As a result, in the first quarter of 2021, we took a $ 2.4 million impairment charge on our Rochas fashion

In the fourth quarter of 2022, we again took a $6.8 million impairment charge on the Rochas fashion trademark after

an independent expert concluded that the valuation of the trademark was $11.3 million.

The new license also contains an option

for the licensee to buy-out the Rochas fashion trademarks in June 2025 at its then fair market value.

and Building Acquisition - Future Headquarters in Paris

April 2021, Interparfums SA, our 73 % owned French subsidiary, completed the acquisition of its future headquarters at 10 rue de

Solférino in the 7th arrondissement of Paris from the property developer.

This is an office complex combining three buildings

connected by two inner courtyards, and consists of approximately 40,000 total sq.

purchase price includes the complete renovation of the site.

As of December 31, 2022, $ 148.1 million of the purchase price, including

approximately $ 4.4 million of acquisition costs, is included in property, equipment and leasehold improvements on the accompanying

balance sheet as of December 31, 2022.

The purchase price has been allocated approximately $ 61.1 million to land and $ 87.0 million

to the building.

The building, which was delivered on February 28, 2022, includes the building structure, development of

the property, façade waterproofing, general and technical installations and interior fittings that will be depreciated

over a range of 7 to 50 years.

The Company has elected to depreciate the building cost based on the useful lives of its components.

Approximately $ 3.4 million of cash held in escrow is also included in property, equipment and leasehold improvements on the accompanying

balance sheet as of December 31, 2022.

acquisition was financed by a 10 -year € 120 million (approximately $ 128.0 million ) bank loan which bears interest at one-month

Euribor plus 0.75% .

Approximately € 80 million of the variable rate debt was swapped for variable interest rate debt with

a maximum rate of 2% per annum.

INTER PARFUMS, INC.

2 unchanged sentences

December 31, 2022, 2021 and 2020

(In thousands except share and per share data)

The $ 142 million purchase price

includes the complete renovation of the site.

As of December 31, 2021, $136.1 million of the purchase price, including approximately

$ 3.1 million of acquisition costs, is included in property, equipment and leasehold improvements on the accompanying balance sheet

as of December 31, 2021.

Approximately $ 8.8 million of cash held in escrow is included in other assets on the accompanying balance

sheet as of December 31, 2021.

In addition, the Company borrowed $ 17.0 million pursuant to a short-term loan equal to the VAT credit,

and in July 2021, the $ 17.0 million VAT credit was reimbursed by the French Tax Authorities and the loan was repaid.

The acquisition was financed

by a 10 -year € 120 million (approximately $ 136 million) bank loan which bears interest at one-month Euribor plus 0.75% .

Approximately

€ 80 million of the variable rate debt was swapped for fixed interest rate debt with a maximum interest rate of 2%.

Anna Sui Corp.

In January 2021, we renewed our

license agreement with Anna Sui Corp.

for the creation, development and distribution of fragrance products through December 31,

2026, without any material changes in terms and conditions.

Our initial 10-year license agreement with Anna Sui Corp.

The renewal agreement also allows for an additional 5-year term through 2031 at the option of the Company .

Rochas Fashion

Effective January 1, 2021, we

entered into a new license agreement modifying our Rochas fashion business model.

The new agreement calls for a reduction in royalties

to be received.

As a result, in the first quarter of 2021, we took a $ 2.4 million impairment charge on our Rochas fashion trademark.

The new license also contains an option for the licensee to buy-out the Rochas fashion trademarks in June 2025 at its then fair

market value.

In January 2021, we renewed our

license agreement with S.T.

Dupont for the creation, development and distribution of fragrance products through December 31,

2022, without any material changes in terms and conditions.

Our initial 11-year license agreement with S.T.

Dupont was signed in

June 1997 and had previously been extended through December 31, 2021.

(In thousands except share and per share

(4) Inventories

10 unchanged sentences

Inventory reserves aggregated $ 11.4 million and $ 15.8 million as of December 31, 2022 and 2021, respectively.

INTER PARFUMS, INC.

AND SUBSIDIARIES

Notes to Consolidated Financial Statements

December 31, 2021, 2020 and 2019

(In thousands except share and per share data)

(5) Fair Value of Financial Instruments

3 unchanged sentences

Schedule of fair value, assets measured on recurring basis

Value Measurements at December 31, 2021

Fair Value Measurements at December 31, 2022

Quoted Prices in

Significant Other

Active Markets for

Identical Assets

Foreign currency forward

exchange contracts accounted for using hedge accounting

Foreign currency forward

exchange contracts not accounted for using hedge accounting

Significant Other

Short-term investments

Interest rate swaps

Foreign currency forward exchange contracts accounted for using hedge accounting

Foreign currency forward exchange contracts not accounted for using hedge accounting

Total liabilities

INTER PARFUMS, INC.

AND SUBSIDIARIES

Notes to Consolidated Financial Statements

December 31, 2022, 2021 and 2020

(In thousands except share and per share

Fair Value Measurements at December 31, 2021

Quoted Prices in

Significant Other

Active Markets for

Identical Assets

Significant Other

Short-term investments

Foreign currency forward exchange contracts accounted for using hedge accounting

Foreign currency forward exchange contracts not accounted for using hedge accounting

Interest rate swaps

Total liabilities

The carrying amount of cash and

3 unchanged sentences

approximate current market rates.

INTER PARFUMS, INC.

AND SUBSIDIARIES

Notes to Consolidated Financial Statements

December 31, 2021, 2020 and 2019

(In thousands except share and per share data)

Foreign currency forward exchange

19 unchanged sentences

transaction will no longer occur, then any gains or losses accumulated in other comprehensive income are reclassified to current-period

INTER PARFUMS, INC.

AND SUBSIDIARIES

Notes to Consolidated Financial Statements

December 31, 2022, 2021 and 2020

(In thousands except share and per share

Gains and losses in derivatives

3 unchanged sentences

in each of the years in the three-year period ended December 31, 2022.

For the year ended December 31, 2021, interest expense

includes a gain of $0.2 million, resulting from an interest rate swap.

All derivative instruments are

reported as either assets or liabilities on the balance sheet measured at fair value.

The valuation of interest rate swap is included

in long-term debt on the accompanying balance sheets.

The valuation of foreign currency forward exchange contracts at December

31, 2021 and December 31, 2020, resulted in an asset and is included in other current assets on the accompanying balance sheets.

At December 31, 2021, the

Company had foreign currency contracts in the form of forward exchange contracts with notional amounts of approximately U.S.

Interest expense includes a gain of $ 6.3 million and $ 0.2

million in 2022 and 2021, respectively, resulting from an interest rate swap.

All derivative instruments

are reported as either assets or liabilities on the balance sheet measured at fair value.

The valuation of interest rate swap

is included in other assets on the accompanying balance sheet for the period ended December 31, 2022 and was included in long-term

debt on the accompanying balance sheet for the period ended December 31, 2021.

The valuation of foreign currency forward exchange

contracts at December 31, 2022 and December 31, 2021, resulted in an asset and is included in other current assets on the accompanying

balance sheets.

At December 31, 2022, the Company

had foreign currency contracts in the form of forward exchange contracts with notional amounts of approximately U.S.

$ 36.5 million ,

and GB £ 3.5 million , which all have maturities of less than one year.

INTER PARFUMS, INC.

AND SUBSIDIARIES

Notes to Consolidated Financial Statements

December 31, 2021, 2020 and 2019

(In thousands except share and per share data)

which all have maturities of less than one year.

(7) Property, Equipment and Leasehold Improvements

5 unchanged sentences

expense was $ 7.5 million , $ 4.4 million and $ 3.8 million in 2022, 2021, and 2020, respectively.

INTER PARFUMS, INC.

AND SUBSIDIARIES

Notes to Consolidated Financial Statements

December 31, 2022, 2021 and 2020

(In thousands except share and per share

(8) Trademarks, Licenses and Other Intangible Assets

11 unchanged sentences

Amortization expense is expected to approximate

million in 2022, $ 4.4 million in 2023, $ 4.2 million in 2024, 2025 and 2026.

The weighted average amortization period for trademarks,

licenses and other intangible assets with finite lives are 18 years, 15 years and 2 years, respectively, and 14 years on average.

$ 7.0 million in 2023, $ 13.3 million in 2024, $ 12.3 million in 2025, $ 10.5 million in 2026 and 2027.

The weighted average amortization

period for trademarks, licenses and other intangible assets with finite lives are 18 years, 14 years and 2 years, respectively,

and 14 years on average.

The Company reviews intangible

assets with indefinite lives for impairment whenever events or changes in circumstances indicate that the carrying amount may

not be recoverable.

There was an impairment charge for trademarks with indefinite useful lives of $ 6.8 million and $ 2.4 million

in 2022 and 2021, respectively, relating to our Rochas fashion business and an impairment charge for trademarks with indefinite

useful lives of $ 0.9 million in 2022 relating to our Intimate trademark.

The fair values used in our evaluations are estimated

based upon discounted future cash flow projections using a weighted average cost of capital of 9.80 %, 7.47 %, and 6.99 % as of December

31, 2022, 2021 and 2020, respectively.

The cash flow projections are based upon a number of assumptions, including, future sales

levels and future cost of goods and operating expense levels, as well as economic conditions, changes to our business model or

changes in consumer acceptance of our products which are more subjective in nature.

The Company believes that the assumptions

it has made in projecting future cash flows for the evaluations described above are reasonable and currently no other impairment

indicators exist for our indefinite-lived assets.

However, if future actual results do not meet our expectations, the Company

may be required to record an impairment charge, the amount of which could be material to our results of operations.

INTER PARFUMS, INC.

2 unchanged sentences

December 31, 2022, 2021 and 2020

(In thousands except share and per share data)

The Company reviews intangible

assets with indefinite lives for impairment whenever events or changes in circumstances indicate that the carrying amount may not

be recoverable.

There was an impairment charge for trademarks with indefinite useful lives of $ 2.4 million in 2021 relating to

our Rochas fashion business.

The fair values used in our evaluations are estimated based upon discounted future cash flow projections

using a weighted average cost of capital of 7.47 %, 6.99 %, and 7.94 % as of December 31, 2021, 2020 and 2019, respectively.

flow projections are based upon a number of assumptions, including, future sales levels and future cost of goods and operating

expense levels, as well as economic conditions, changes to our business model or changes in consumer acceptance of our products

which are more subjective in nature.

The Company believes that the assumptions it has made in projecting future cash flows for

the evaluations described above are reasonable and currently no other impairment indicators exist for our indefinite-lived assets.

However, if future actual results do not meet our expectations, the Company may be required to record an impairment charge, the

amount of which could be material to our results of operations.

(In thousands except share and per share

The cost of trademarks, licenses

5 unchanged sentences

impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable.

Trademarks (finite lives) primarily

represent Lanvin brand names and trademarks and in connection with their purchase, Lanvin was granted the right to repurchase the

brand names and trademarks on July 1, 2027 for €70 million (approximately $ 79 million) (residual value) in accordance with

an amendment signed in 2021.

Because the residual value of the intangible asset exceeds its carrying value, the asset is not being

Trademarks (finite lives)

primarily represent Lanvin brand names and trademarks and in connection with their purchase, Lanvin was granted the right to

repurchase the brand names and trademarks on July 1, 2027 for €70 million (approximately $ 7

5 million) (residual value) in accordance with an amendment signed in 2021.

Because the residual value of the intangible

asset exceeds its carrying value, the asset is not being amortized.

(9) Accrued Expenses

5 unchanged sentences

Refund (return) liability

Accrued expenses

(10) Loans Payable – Banks

6 unchanged sentences

a maturity date of December 15, 2023 , is expected to be renewed on an annual basis.

Borrowings outstanding pursuant to lines

of credit were zero as of December 31, 2021 and 2020.

Borrowings outstanding pursuant to lines of

credit were zero as of December 31, 2022 and 2021.

The Company’s foreign subsidiaries

2 unchanged sentences

bear interest at EURIBOR plus between 0.6 % and 0.9 % (EURIBOR was minus 0.576 % at December 31, 2022).

Borrowings outstanding

pursuant to these bank overdraft facilities were zero as of December 31, 2021 and 2020.

Borrowings outstanding pursuant

to these bank overdraft facilities were zero as of December 31, 2022 and 2021.

As there were no borrowings outstanding

as of December 31, 2022 and 2021, there is no weighted average interest rate on short-term borrowings as of December 31, 2022 and

INTER PARFUMS, INC.

2 unchanged sentences

December 31, 2022, 2021 and 2020

(In thousands except share and per share data)

As there were no borrowings outstanding

as of December 31, 2021 and 2010, there is no weighted average interest rate on short-term borrowings as of December 31, 2021 and

(In thousands except share and per share

(11) Long-Term Debt

Long-term debt consists of the following:

$ 53.3 million payable in 48 equal monthly installments of $ 1.1 million beginning in December 2022, bearing interest at one-month Euribor plus 0.825 %

$ 135.9 million payable in 120 equal monthly installments of $ 1.1 million beginning in April 2021, bearing interest at one-month Euribor plus 0.75 %

1 unchanged sentence

$ 17 million payable in 10 equal annual installments of $ 1.7 million beginning in October 2021 including interest imputed at 2.0 % per annum

$ 13.4 million term loan amended such that the loan was repaid in February 2021 plus interest at 0.85 % per annum

Less current maturities

In December 2022, to finance

Interparfums SA’s acquisition of the Lacoste trademark, the Company entered into a $53.3 million (€ 50 million) four-year

loan agreement.

The loan agreement bears interest at EURIBOR-1 month rates plus a margin of 0.825%.

This variable rate debt was

swapped for variable interest rate debt with a maximum rate of 2% per annum.

The swap is a hedged derivative instrument and is

therefore recorded at fair value and changes in fair value are reflected in other comprehensive income.

In April 2021, to finance the

7 unchanged sentences

subsequent to December 31, 2022 are approximately $ 30.4 million in 2023 and $ 28.7 million per year thereafter through 2033.

INTER PARFUMS, INC.

AND SUBSIDIARIES

Notes to Consolidated Financial Statements

December 31, 2022, 2021 and 2020

(In thousands except share and per share

(12) Commitments

11 unchanged sentences

at the lease commencement date for the location in which the lease is held in determining the present value of lease payments.

INTER PARFUMS, INC.

AND SUBSIDIARIES

Notes to Consolidated Financial Statements

December 31, 2021, 2020 and 2019

(In thousands except share and per share data)

As of December 31, 2022, the

10 unchanged sentences

2.6% weighted-average discount rate)

INTER PARFUMS, INC.

AND SUBSIDIARIES

Notes to Consolidated Financial Statements

December 31, 2022, 2021 and 2020

(In thousands except share and per share

License Agreements

12 unchanged sentences

and 2020, respectively.

INTER PARFUMS, INC.

AND SUBSIDIARIES

Notes to Consolidated Financial Statements

December 31, 2021, 2020 and 2019

(In thousands except share and per share data)

Share-Based Payments

The Company maintains

a stock option program for key employees, executives and directors.

The plans, all of which have been approved by

shareholder vote, provide for the granting of both nonqualified and incentive options.

Options granted under the plans

typically have a six-year term and vest over a four

The fair value of shares vested aggregated $ 1.4

million , $ 1.7

million and $ 1.4 million in 2021, 2020 and 2019, respectively.

cost, net of estimated forfeitures, is recognized on a straight-line basis over the requisite service period for the

entire award.

Forfeitures are estimated based on historic trends.

It is generally the Company’s policy to issue

new shares upon exercise of stock options.

The Company maintains a stock

option program for key employees, executives and directors.

The plans, all of which have been approved by shareholder vote, provide

for the granting of both nonqualified and incentive options.

Options granted under the plans typically have a six-year term and

vest over a four to five -year period.

The fair value of shares vested aggregated $ 1.3 million , $ 1.4 million and $ 1.7 million in

2022, 2021 and 2020, respectively.

Compensation cost, net of estimated

forfeitures, is recognized on a straight-line basis over the requisite service period for the entire award.

Forfeitures are estimated

based on historic trends.

It is generally the Company’s policy to issue new shares upon exercise of stock options.

The following table sets forth

1 unchanged sentence

Number of Shares

Weighted Average

Weighted Average Grant Date Fair Value

Nonvested options – beginning of year

2 unchanged sentences

Nonvested options – end of year

INTER PARFUMS, INC.

AND SUBSIDIARIES

Notes to Consolidated Financial Statements

December 31, 2022, 2021 and 2020

(In thousands except share and per share

The effect of share-based payment

4 unchanged sentences

Diluted earnings per share attributable to Inter Parfums, Inc.

The following table summarizes stock option activity and related information for the years ended December 31, 2021, 2020 and

The following table summarizes

stock option activity and related information for the years ended December 31, 2022, 2021 and 2020:

Year ended December 31,

4 unchanged sentences

Shares under option - end of year

INTER PARFUMS, INC.

AND SUBSIDIARIES

Notes to Consolidated Financial Statements

December 31, 2021, 2020 and 2019

(In thousands except share and per share data)

At December 31, 2022, options

14 unchanged sentences

Weighted-average dividend yield

INTER PARFUMS, INC.

AND SUBSIDIARIES

Notes to Consolidated Financial Statements

December 31, 2022, 2021 and 2020

(In thousands except share and per share

Expected volatility is estimated

10 unchanged sentences

Intrinsic value of stock options exercised

INTER PARFUMS, INC.

AND SUBSIDIARIES

Notes to Consolidated Financial Statements

December 31, 2021, 2020 and 2019

(In thousands except share and per share data)

The following table summarizes

2 unchanged sentences

Options outstanding

weighted average remaining

contractual life

$ 32.83 - $ 33.95

Options outstanding weighted average remaining contractual life

Options exercisable

$ 40.15 - $ 46.90

7 unchanged sentences

and an aggregate of 133,000 shares to officers and managers, subject to certain corporate performance conditions.

The shares, subject

to adjustment for stock splits, will be distributed in June 2022.

In March 2020, due to the potential

impact on future net sales and operating results resulting from the COVID-19 pandemic, the estimated number of shares to be distributed,

after forfeited shares, was reduced from 142,571 to 82,162.

As the Company had already purchased shares in contemplation

of the higher anticipated distribution, shares purchased in excess of the reduced anticipated distribution were transferred to

treasury shares at the Interparfums SA level.

The corporate

performance conditions were met and therefore in June 2022, 211,955 shares, adjusted for stock splits, were distributed.

The aggregate

cost of the grant of approximately $ 4.8 million was recognized as compensation cost on a straight-line basis over the requisite

three -year service period.

INTER PARFUMS, INC.

AND SUBSIDIARIES

Notes to Consolidated Financial Statements

December 31, 2022, 2021 and 2020

(In thousands except share and per share

In March 2022, Interparfums SA

approved an additional plan to grant an aggregate of 88,400 shares to all Interparfums SA employees and corporate officers having

more than six months of employment at grant date, subject to certain corporate performance conditions.

The shares, subject to adjustment

for stock splits, will be distributed in June 2025 and will follow the same guidelines as the December 2018 plan.

The fair value of the grant had

been determined based on the quoted stock price of Interparfums SA shares as reported by the NYSE Euronext on the date of grant.

original cost of the grant was approximately $4.4 million, and the March 2020 revaluation resulted in a reduction of the cost,

to approximately $2.5 million.

In June 2020, the performance

conditions were modified affecting 96 employees.

As of December 31, 2021, the number of shares to be distributed, after forfeited

shares, increased to 172,343 .

The increase in shares anticipated to be distributed were transferred from treasury shares at

the Interparfums SA level.

The modification resulted in a revised cost of the grant to approximately $ 4.6 million .

In order to avoid dilution of

the Company’s ownership of Interparfums SA, all shares distributed or to be distributed pursuant to these plans are pre-existing

shares of Interparfums SA, purchased in the open market by Interparfums SA.

been determined based on the quoted stock price of Interparfums SA shares as reported by the Euronext on the date of grant.

estimated number of shares to be distributed of 85,062 has been determined taking into account employee turnover.

The aggregate

cost of the grant of approximately $ 4.1 million will be recognized as compensation cost on a straight-line basis over the requisite

three and a quarter year service period.

Similar to the December 2018

plan, in order to avoid dilution of the Company’s ownership of Interparfums SA, all shares distributed or to be distributed

pursuant to these plans will be pre-existing shares of Interparfums SA, purchased in the open market by Interparfums SA.

the year ended December 31, 2022, the Company acquired 63,281 shares at an aggregate cost of $ 3.0 million.

All share purchases and issuances

5 unchanged sentences

In February 2021, the Board of Directors authorized a reinstatement of an annual dividend of $1.00, payable quarterly.

In February 2022, the Board of Directors authorized a 100% increase in the annual dividend to $ 2.00 per share.

The next quarterly

cash dividend of $ 0.50 per share is payable on March 31, 2022 to shareholders of record on March 15, 2022.

INTER PARFUMS, INC.

AND SUBSIDIARIES

Notes to Consolidated Financial Statements

December 31, 2021, 2020 and 2019

(In thousands except share and per share data)

In February 2022, the Board of Directors authorized a 100% increase in the annual dividend to $2.00 per share and in February 2023,

the Board of Directors further increased the annual dividend to $ 2.50 per share.

The next quarterly cash dividend of $ 0.625 per

share is payable on March 31, 2023 to shareholders of record on March 15, 2023.

(14) Net Income Attributable to Inter Parfums, Inc.

8 unchanged sentences

assuming the exercise of dilutive stock options using the treasury stock method.

INTER PARFUMS, INC.

AND SUBSIDIARIES

Notes to Consolidated Financial Statements

December 31, 2022, 2021 and 2020

(In thousands except share and per share

The reconciliation between the

19 unchanged sentences

Both European and United States operations primarily represent the sale of prestige brand name fragrances.

INTER PARFUMS, INC.

AND SUBSIDIARIES

Notes to Consolidated Financial Statements

December 31, 2021, 2020 and 2019

(In thousands except share and per share data)

Information on the Company’s

2 unchanged sentences

United States

Eliminations of intercompany sales

Eliminations of intercompany

Net income attributable to Inter Parfums, Inc.:

United States

Depreciation and amortization expense including impairment loss:

Depreciation and amortization expense including

impairment loss:

United States

5 unchanged sentences

United States

INTER PARFUMS, INC.

AND SUBSIDIARIES

Notes to Consolidated Financial Statements

December 31, 2022, 2021 and 2020

(In thousands except share and per share

Total assets:

6 unchanged sentences

United States

INTER PARFUMS, INC.

AND SUBSIDIARIES

Notes to Consolidated Financial Statements

December 31, 2021, 2020 and 2019

(In thousands except share and per share data)

United States export sales were

2 unchanged sentences

customers by region are as follows:

Consolidated net sales to customers by region are as follows:

Year ended December 31,

1 unchanged sentence

Central and South America

INTER PARFUMS, INC.

AND SUBSIDIARIES

Notes to Consolidated Financial Statements

December 31, 2022, 2021 and 2020

(In thousands except share and per share

Consolidated net sales to customers in major countries

13 unchanged sentences

Foreign operations

INTER PARFUMS, INC.

AND SUBSIDIARIES

Notes to Consolidated Financial Statements

December 31, 2021, 2020 and 2019

(In thousands except share and per share data)

The provision for current and

deferred income tax expense (benefit) consists of the following:

ended December 31,

Year ended December 31,

State and local

1 unchanged sentence

Total income tax expense

INTER PARFUMS, INC.

AND SUBSIDIARIES

Notes to Consolidated Financial Statements

December 31, 2022, 2021 and 2020

(In thousands except share and per share

The tax effects of temporary

16 unchanged sentences

Valuation allowances have been

provided for deferred tax assets relating to foreign net operating loss carry-forwards and reserves acquired in connection with

the acquisition of Interparfums Italia srl, as future profitable operations from certain foreign subsidiaries might not be sufficient

to realize the full amount of the deferred tax assets.

INTER PARFUMS, INC.

AND SUBSIDIARIES

Notes to Consolidated Financial Statements

December 31, 2021, 2020 and 2019

(In thousands except share and per share data)

provided for deferred tax assets relating to foreign net operating loss carry-forwards as future profitable operations from certain

foreign subsidiaries might not be sufficient to realize the full amount of the deferred tax assets.

No other valuation allowances

2 unchanged sentences

The Company estimated of the

effect of global intangible low-taxed income (“GILTI”) and has determined that it has no tax liability related to

GILTI as of December 31, 2021, 2020 and 2019.

effect of global intangible low-taxed income (“GILTI”) and has determined that it has no tax liability related to GILTI

as of December 31, 2022, 2021 and 2020.

The Company also estimated the effect of foreign derived intangible income (“FDII”)

1 unchanged sentence

respectively.

French Tax Settlement

The French authorities had considered

that the existence of IP Suisse, a wholly-owned subsidiary of Interparfums SA, does not, in and of itself, constitute a permanent

establishment and therefore Interparfums, SA should pay French taxes on all or part of the profits of that entity.

In June 2021,

a global settlement agreement was reached with the French Tax Authority whereby Interparfums SA paid in December 2021, €2.5

million (approximately $2.9 million) effectively lowering the Lanvin brand royalty rate charged by IP Suisse for the periods from

2017 through 2020.

Interparfums SA also agreed to apply the lower rate in 2021 through 2025 and to transfer the Lanvin brand from

IP Suisse to Interparfums, SA by December 31, 2025.

The Company is no longer subject

federal, state, and local income tax examinations by tax authorities for years before 2019.

INTER PARFUMS, INC.

AND SUBSIDIARIES

Notes to Consolidated Financial Statements

December 31, 2022, 2021 and 2020

(In thousands except share and per share

Differences between the United

5 unchanged sentences

Benefit of Foreign Derived Intangible Income

Effect of foreign taxes greater than

Effect of foreign taxes greater than U.S.

statutory rates

Effective rates

INTER PARFUMS, INC.

AND SUBSIDIARIES

Notes to Consolidated Financial Statements

December 31, 2021, 2020 and 2019

(In thousands except share and per share data)

(17) Accumulated Other Comprehensive Loss

9 unchanged sentences

Accumulated other comprehensive loss

INTER PARFUMS, INC.

AND SUBSIDIARIES

Notes to Consolidated Financial Statements

December 31, 2022, 2021 and 2020

(In thousands except share and per share

(18) Net Income Attributable to Inter Parfums, Inc.

1 unchanged sentence

Schedule of net income attributable to transfers from the noncontrolling interest

ended December 31,

Year ended December 31,

Net income attributable to Inter Parfums, Inc.

Decrease in Inter Parfums, Inc.’s additional

paid-in capital for subsidiary share transactions

Decrease in Inter Parfums, Inc.’s additional paid-in capital for subsidiary share transactions

Change from net income attributable to Inter Parfums, Inc.

3 unchanged sentences

cash and cash equivalents as of December 31, 2021:

December 31, 2021

Cash and cash equivalents per balance sheet

1 unchanged sentence

Cash and cash equivalents per statement of cash flows

Schedule II - Valuation and Qualifying Accounts

INTER PARFUMS, INC.

AND SUBSIDIARIES

Schedule of Valuation and Qualifying Accounts

Valuation and Qualifying Accounts

(In thousands)

end of period

17 unchanged sentences

See accompanying reports of independent registered public accounting

to the requirements of Section 13 or 15 (d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report

to be signed on its behalf by the undersigned, thereunto duly authorized.

Pursuant to the requirements of Section 13 or 15 (d) of the

Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto

duly authorized.

Inter Parfums, Inc.

1 unchanged sentence

Jean Madar, Chief Executive Officer

March 1, 2022

to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf

of the Registrant and in the capacities and on the dates indicated:

February 28, 2023

Pursuant to the requirements of the Securities Exchange Act

of 1934, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the

dates indicated:

/s/ Jean Madar

1 unchanged sentence

and Chief Executive Officer

March 1, 2022

/s/ Russell Greenberg

Russell Greenberg

Chief Financial and Accounting Officer and Director

March 1, 2022

February 28, 2023

/s/ Michel Atwood

Michel Atwood

Chief Financial Officer and Director

February 28, 2023

/s/ Philippe Benacin

4 unchanged sentences

February 24, 2023

/s/ François Heilbronn

François Heilbronn

February 24, 2023

5 unchanged sentences

February 24, 2023

/s/ Michel Dyens

February __, 2023

5 unchanged sentences

February 24, 2023

following documents previously filed with the Commission are incorporated by reference to the Company’s Annual Report on

Form 10-K for the fiscal year ended December 31, 2017:

Exhibit Index

The following documents

previously filed with the Commission are incorporated by reference to the Company’s Annual Report on Form 10-K for the fiscal

year ended December 31, 2017:

of Option Agreement for Options Granted to Executive Officers on December 29, 2017 with Schedule of Option Holders and Options

of Option Agreement for Options Granted to Executive Officers on January 19, 2018 with Schedule of Option Holders and Options

following documents previously filed with the Commission are incorporated by reference to the Company’s Annual Report on

Form 10-K for the fiscal year ended December 31, 2018:

The following documents

previously filed with the Commission are incorporated by reference to the Company’s Annual Report on Form 10-K for the fiscal

year ended December 31, 2018:

Agreement with Jean Madar Holding SAS

3 unchanged sentences

of Option Agreement for Options Granted to Executive Officers on December 31, 2018 with Schedule of Option Holders and Options

following document previously filed with the Commission is incorporated by reference to the Company’s Current Report on

Form 8-K as filed on February 7, 2020:

The following document

previously filed with the Commission is incorporated by reference to the Company’s Current Report on Form 8-K as filed on

February 7, 2020:

of Amendment to Consulting Agreement for Jean Madar Holding SAS

following documents previously filed with the Commission are incorporated by reference to the Company’s Annual Report on

Form 10-K for the fiscal year ended December 31, 2019:

The following documents

previously filed with the Commission are incorporated by reference to the Company’s Annual Report on Form 10-K for the fiscal

year ended December 31, 2019:

Agreement with Philippe Benacin Holding SAS

17 unchanged sentences

for Interparfums SA Distribution Center (confidential information in this exhibit was omitted)

The following documents

previously filed with the Commission are incorporated by reference to the Company’s Annual Report on Form 10-K for the fiscal

year ended December 31, 2020:

Consent of Mazars USA LLP

Certification Required by Rule 13a-14 of Chief Executive Officer

2 unchanged sentences

Certification Required by Section 906 of the Sarbanes-Oxley Act by Chief Executive Officer

Interactive data

following documents previously filed with the Commission are incorporated by reference to the Company’s Annual Report on

Form 10-K for the fiscal year ended December 31, 2020:

Interparfums Singapore Pte.

Ltd Memorandum and Articles of Association

Interparfums Luxury Brands, Inc.

Certificate of Incorporation

of Mazars USA LLP

Certification

Required by Rule 13a-14 of Chief Executive Officer

Certification

Required by Rule 13a-14 of Chief Financial Officer

Certification

Required by Section 906 of the Sarbanes-Oxley Act by Chief Executive Officer

Certification

Required by Section 906 of the Sarbanes-Oxley Act by Chief Executive Officer

following documents previously filed with the Commission are incorporated by reference to the Company’s Annual Report on

Form 10-K for the fiscal year ended December 31, 2016:

Organizational

Document of Inter Parfums (Suisse) Sarl (French original)

Organizational

Document of Inter Parfums (Suisse) Sarl (English translation)

and Restated By-laws (correction

to name only)

of Option Agreement for Options Granted to Executive Officers on December 31, 2016 with Schedule of Option Holders and Options

Filed and Attached to this report:

following document previously filed with the Commission more than five years ago is incorporated by reference to the Company’s

Quarterly Report on Form 10-Q for the period ended March 31, 2016:

Articles of Association of Parfums Rochas Spain, Limited Liability Company (Spanish with English translation)

following document previously filed with the Commission more than five years ago is incorporated by reference to the Company’s

Quarterly Report on Form 10-Q for the period ended June 30, 2016:

Interactive data files

The following documents previously filed

with the Commission are incorporated by reference to the Company’s Annual Report on Form 10-K for the fiscal year ended

December 31, 2021:

2016 Stock Option Plan

following documents are filed with this report:

Interparfums Italia srl (formerly Parfums Italia srl) Incorporation Deed dated September 8, 2021 (Italian language)

Interparfums Italia srl (formerly Parfums Italia srl) Incorporation Deed dated September 8, 2021 (English translation)

Interparfums Italia srl (formerly Parfums Italia srl) Amendment to Certificate of Organization dated October 1, 2021 (Italian language)

Interparfums Italia srl (formerly Parfums Italia srl) Amendment to Certificate of Organization dated October 1, 2021 (English translation)

List of Subsidiaries

4 unchanged sentences

Certification Required by Section 906 of the Sarbanes-Oxley Act by Chief Executive Officer

Exhibits Filed and Attached to this report:

The following documents are filed with

this report, the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022:

List of Subsidiaries

Consent of Mazars USA LLP

Certification Required by Rule 13a-14 of Chief Executive Officer

Certification Required by Rule 13a-14 of Chief Financial Officer

Certification Required by Section 906 of the Sarbanes-Oxley Act by Chief Executive Officer

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 9A. Controls and Procedures