Inter Parfums, Inc. announced that net sales for the fourth quarter of 2010 reached $112.5 million, off slightly from $112.9 million in the fourth quarter of 2009. At comparable foreign currency exchange rates, net sales for the fourth quarter were actually up 6.0%. Thus, net sales for 2010 increased 12.4% to a record $460.4 million from $409.5 million in 2009. At comparable foreign currency exchange rates, net sales for 2010 rose 18.0% compared to 2009.
Discussing European-based operations, Jean Madar, chairman and CEO of Inter Parfums, stated, “All of the major fragrance brands in our prestige portfolio contributed to the 12% increase in European-based sales; in local currency the increase was 18%. Burberry fragrances had another year of growth driven by solid performances of top-selling lines, the launch of Burberry Sport and Burberry Beauty, and the makeup line rolled out in summer 2010, in addition to significant gains by its well-established lines. Annual sales for the brand rose 11% in local currency.”
He continued, “In local currency, Lanvin sales rose 31%, Van Cleef & Arpels sales by 29%, S.T. Dupont sales by 37% and Paul Smith sales by 17%. Also contributing to the sales growth was the inclusion of Montblanc sales beginning in the second half of 2010. Moreover, sales of our brands have been building across all regions of the world. 2010 sales in local currency in Asia rose 27%, the Middle East by 16%, Eastern Europe by 61% and South America by 42% compared to 2009. Even in our largest, most established markets there was significant year-over-year growth as sales in Western Europe and North America rose 12% and 9%, respectively, in local currency.”
On the subject of U.S.-based operations, Madar pointed out, “As expected, following certain inventory shortfalls in the third quarter that pushed those shipments into the fourth quarter, sales were 2% ahead of the final quarter of 2009. Due to the more than 50% increase in sales through the first half of 2010, sales by U.S.-based operations for the year as a whole were 16.2% ahead of 2009.”
Looking forward, Madar went on to say, “Having previously reported on our prestige line-up for 2011, I am pleased to announce a new addition. To further strengthen the Burberry brand’s potential for sustained growth in the years ahead, following the creative and development phases initiated in early 2010, a major new women’s line will be launched in fall 2011.”