Inter Parfums reported that net sales rose 45% in the first quarter of 2008 to $123.2 million, up from $85.1 million in the comparable 2007 quarter. European-based operations achieved sales of $110.6 million, a 46% increase, and sales by U.S.-based operations rose 31% to $12.6 million. Gross margin was 60% compared to 61%, with the decrease attributable to the decline of the U.S. dollar against the euro on European-based product sales to U.S. customers, according to the company.
“Most of the gain in European-based sales was due to the 53% increase in Burberry fragrance sales (34% in local currency) with the successful worldwide launch of Burberry The Beat coupled with good performance by the brand’s existing lines," said Jean Madar, chairman of the board and CEO, Inter Parfums. "U.S.-based sales growth reflected the continued strength of our specialty retail business."
For the full report and details on the company's launch schedule, click here.