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Inter Parfums Post Q2 2011
Posted: July 26, 2011
Inter Parfums, Inc. announced that net sales for the second quarter of 2011 were approximately $121.1 million, a 12.3% increase from $107.8 million in the second quarter of 2010. At comparable foreign currency exchange rates, second quarter net sales were up 4.7%.
“The initial launch of the Jimmy Choo signature fragrance and the inclusion of legacy Montblanc fragrances plus Legend, a new scent for men, accounted for much of the increase in second quarter sales," said Jean Madar, chairman and CEO, Inter Parfums. "In addition, Interparfums Luxury Brands, our recently formed U.S. distribution subsidiary, contributed to the increase in second quarter sales. We were very pleased by the strength of emerging markets with second quarter sales in local currency up 19% in South America, 16% in Eastern Europe and 14% in Asia.
“[Regarding U.S.-based operations] with most of our new specialty retail product introductions and holiday programs scheduled to ship in the second half, second quarter sales were modest, especially following the 6.5% increase in 2011 first quarter sales and the 16% sales growth achieved in 2010.”