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Inter Parfums Notes Strong Sales in Both U.S., Europe for Q3 2011
Posted: October 26, 2011
Inter Parfums, Inc. announced its net sales for the third quarter of 2011 were approximately $171.7 million, a 42% increase from $120.9 million in the third quarter of 2010. At comparable foreign currency exchange rates, third quarter net sales were up 36%, and Inter Parfums plans to issue its full financial results for the third quarter of 2011 on Nov. 9, 2011.
The company reported its European-based product sales for the three months ending Sept. 30, 2011 were $154.7 million, up 41.7% from $109.2 million in third quarter 2010, and in the nine months ending Sept. 30, 2011, the same segment’s sales were $382.8 million, up 23.7% over 2010’s $309.4 million.
For its U.S.-based product sales, the three months ending Sept. 30, 2011 saw sales of $17 million, up nearly 46% from third quarter 2010’s $11.7 million. And for the nine months ending Sept. 30, 2011, the segment’s sales were up 12.4% to $43.3 million from 2010’s $38.6 million.
Discussing European-based operations, Jean Madar, chairman and CEO of Inter Parfums, noted, “Burberry fragrance sales were up 30% for the quarter due in great part to the global launch of Burberry Body. Other factors contributing to the sales increase include the continued strong momentum of the Jimmy Choo and Montblanc fragrance launches and the inclusion of Interparfums Luxury Brands, our U.S. distribution subsidiary, which began operations at the start of the year.
“We were very pleased by the continued strength in certain markets with third quarter sales in local currency holding steady in Western Europe while increasing 55% and 64% in South America and Asia, respectively.”