Focus on strategic partnerships and effective product launches are working well for Inter Parfums, Inc. IPAR. The company has been benefiting from solid growth across European as well as the U.S. operations. However, higher SG&A expenses are a challenge for Inter Parfums.Let’s delve deeper.Strategic Partnership & Product LaunchesInter Parfums has been benefiting from focus on product launches to boost assortment strength. The company is on track to rollout products that were revealed in the first half of the year. The launches include Alibi for Oscar de la Renta, Bella Vita for GUESS, I Want Choo for Jimmy Choo, Coach Sunset Dreams, the Kate Spade signature scent and Rochas Girl among others. For the rest of the year, the company’s new product pipeline is dominated by brand extensions like the Oscar de la Renta Bella family, flankers for Jimmy Choo Urban Hero and the Hollister Wave collection. Recently, the company debuted Effect— a full suite of men’s grooming and fragrance products — under the GUESS brand.Image Source: Zacks Investment ResearchInter Parfums, which shares space with Coty Inc. COTY, is set to expand its business through new licenses and acquisitions. In July 2021, the company inked a deal with Salvatore Ferragamo S.p.A. The deal grants an exclusive worldwide license to Inter Parfums for the production and distribution of Ferragamo’s branded perfumes. In July 2020, Inter Parfums’ majorly-owned subsidiary — Interparfums SA — acquired 25% of Divabox’s capital. Divabox is the owner of Origines-parfums, which is a renowned French company in the online beauty market. The deal will enhance Inter Parfums’ fragrance line and product range as well as ramp up its digital development, courtesy of Origines-parfums’ solid customer expertise.Prior to this, Interparfums SA signed an agreement with renowned luxury brand — MonclerSpA — in June 2020. The deal gave Inter Parfums rights to fragrance-related items in Monclermono brand stores along with few other specialty shops, department stores and duty-free shops.Solid Q2 PerformanceDuring second-quarter 2021, the company’s Europe-based product sales increased 28.3% to $161.2 million, whereas U.S.-based product sales ascended 14.2% to $46.4 million from second-quarter 2019 levels. In European operations, Montblanc, Jimmy Choo and Coach brands registered sales growth of 27.3%, 64.9% and 22.4%, respectively. Apart from these, sales growth was backed by initial sales of the Kate Spade signature collection, which marked its debut in the first quarter. In U.S. operations, the bump in sales was majorly driven by the GUESS brand, which gained on continued legacy fragrance sales along with the new Bella Vita line. Contributions from the Abercrombie & Fitch brand and the launch of Oscar de la Renta’s Alibi also fueled sales growth.Wrapping UpInter Parfumshas been grappling with higher SG&A expenses for a while. During the second quarter, SG&A expenses amounted to $87.7 million, up from $32.4 million reported in the year-ago quarter. In its last earnings call, management highlighted that it was witnessing higher transportation costs.That being said, we believe that the abovementioned upsides are likely to keep this Zacks Rank #3 (Hold) company’s growth story going. The company’s shares have surged 67.1% in the past year compared with the industry’s 42.7% growth.Top 2 Cosmetics PicksHelen of Troy Limited HELE, currently carrying a Zacks Rank #2 (Buy), has a trailing four-quarter earnings surprise of 28.2%, on average. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Nu Skin Enterprises, Inc. NUS, currently carrying a Zacks Rank #2, has a trailing four-quarter earnings surprise of 15.7%, on average. Time to Invest in Legal Marijuana If you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027. After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%. You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.Today, Download Marijuana Moneymakers FREE >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Helen of Troy Limited (HELE): Free Stock Analysis Report Inter Parfums, Inc. (IPAR): Free Stock Analysis Report Nu Skin Enterprises, Inc. (NUS): Free Stock Analysis Report Coty Inc. (COTY): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research