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Inter Parfums Reports Sales Gains in Q1 2010
Posted: May 10, 2010
Inter Parfums, Inc. reported that net sales rose 32% to $119.4 million for the first quarter 2010. European-based operations achieved sales of $108.3 million, a 32% increase from $82.0 million in the first quarter 2009. Sales by U.S.-based operations rose 32% to $11.1 million. Gross margin was 60.1% compared to 59.2% in the previous year quarter.
“Building upon the momentum of last year’s fourth quarter, 2010 is off to a strong start with a 32% sales gain," said Russell Greenberg, executive vice president and CFO, Inter Parfums. "Expanded international distribution of certain specialty retail fragrances, along with a 20% improvement in mass market sales, drove the top line growth by U.S.-based operations.”
“Our first Burberry cosmetics collection launches in July at approximately 30 shops around the world," said Jean Madar, chairman and CEO, Inter Parfums. "We have new women’s scents being readied for Lanvin, Paul Smith and S.T. Dupont and a new fragrance for both men and women for the Van Cleef & Arpels brand. On July 1, 2010 we will commence distribution of Montblanc’s legacy fragrances, with a new Montblanc fragrance planned for a spring 2011 launch date.”