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Inter Parfums Reports Gain in Fiscal 2010
Posted: March 14, 2011
Inter Parfums, Inc. today reported that fourth quarter 2010 net sales declined to $112.4 million from $112.9 million in the fourth quarter 2009. European-based operations generated sales of $95.5 million, down from $96.3 million, and sales by U.S.-based operations were up 2% to $17.0 million from $16.6 million.
Net sales for the year ended Dec. 31, 2010, increased 12.4% to a record $460.4 million from the prior year’s $409.5 million.
“The economic rebound coupled with several major new product launches produced meaningful sales growth across all major prestige brands and in all geographic regions in 2010," said Russell Greenberg, executive vice president and CFO, Inter Parfums. "For our U.S.-based operations, 2010 sales growth was also spurred by the economic recovery as well as new product launches and greater international distribution of the specialty retail brands for which we develop, produce and sell product.”
“The addition of Montblanc in mid-2010 and Boucheron near year-end has expanded the foundation upon which we expect to continue to grow our prestige business," said Jean Madar, chairman of the board and CEO. "In the first quarter of 2011, the selective launch of the Jimmy Choo signature fragrance began, with wider distribution planned throughout the year, and come spring, Legend, our first new men’s scent under the Montblanc brand, will make its debut. Most importantly, we are planning a launch of a new Burberry fragrance family in 2011.
"Other prestige fragrance launches for 2011 include a collection for men and women under the Paul Smith brand, a seasonal scent for Lanvin and a flanker fragrance for Van Cleef & Arpels. I am also pleased to report that Interparfums Luxury Brands is now in operation, giving us greater control over the U.S. distribution of our growing list of prestige brands.”