Inter Parfums, Inc. today announced that net sales for the second quarter of 2010 hit a new record, reaching approximately $107.8 million, a 21.6% increase from $88.6 million in the second quarter of 2009. At comparable foreign currency exchange rates, net sales for the second quarter were up 28.3%. Thus, net sales for the first half of 2010 increased 26.9% to $227.1 million from $179.0 million in the same period last year.
“The strong performance achieved in the first quarter has continued through the first half," said Jean Madar, chairman and CEO, Inter Parfums. "Burberry fragrance sales did exceptionally well with year-to-date growth of 26% in local currency due to global rollout of Burberry Sport fragrances, as well as the popularity of established Burberry scents including Burberry Brit and The Beat. Similarly, in local currency, Lanvin fragrance sales are up 21%, Van Cleef & Arpels (“VCA”) increased 36%, S.T. Dupont rose 65% and Paul Smith advanced 12% through the first half of 2010. These sales gains are due to a combination of new fragrance launches including VCA’s Oriens and S.T. Dupont’s two new scents, Intense and Essence Pure Ice, as well continued sell-through of established scents. Thus far this year, we’ve had robust sales growth in Asia, South America, the Middle East, and Eastern Europe where, in local currency, first half sales rose 39%, 67%, 22% and 68%, respectively, while sales in Western Europe and North America rose a more than acceptable 12% and 14%, respectively, over the first half of 2009.
“We are delighted by the significant upturn in sales, fueled by deeper and broader international specialty retail product distribution as well as from new product launches. We are working on several new initiatives including products for our recently announced license arrangement with Betsey Johnson. We hope to announce additional licensing arrangements for our U.S.-based operations in the near future.”