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Inter Parfums Reports 45% Net Sales Increase for Its Ongoing Brands
Posted: October 24, 2013
Inter Parfums announced that for the three months ended September 30, 2013, net sales of the company’s ongoing brands (excluding Burberry brand sales) increased 45% to $126.8 million, as compared to $8 million for the corresponding period of the prior year, with strong growth in both its European and U.S.-based operations. Consolidated third quarter 2013 net sales declined 24% when Burberry sales are included in the prior year period. At comparable foreign currency exchange rates, consolidated net sales also declined 24%.
For the company’s European-based product sales, sales were $98.1 million for the three months ended September 30, 2013, down 34% compared to the same time period in 2012 ($148.6 million). For the nine months ended September 30, 2013, sales were $385.9 million, an 8% drop from the corresponding period in 2012.
For U.S.-based product sales, there was a 62% increase from the three months ended September 30, 2012 to the same period in 2013, with the more recent sales coming in at $28.7 million, versus $17.7 million. Sales for the nine months ended September 30, 2013, were $72.2 million, a 25% increase from $57.8 million during the same period in 2012.
Discussing European-based operations Jean Madar, chairman and CEO of Inter Parfums, noted, “The 41% increase in sales of ongoing brands reflects robust growth for Montblanc, where comparable quarter brand sales rose more than 56% driven by demand for Legend fragrances. Jimmy Choo delivered a similarly impressive performance with comparable quarter growth of 55% reflecting accelerating momentum for Flash, a new women’s scent launched early in the year, and recurring sales of the brand’s signature fragrance. Lanvin sales rose nearly 11% boosted by the spring launch of Lanvin Me and the staying power of Eclat d’Arpège, after more than a decade on the market. Additionally, the recent launches of the Repetto signature scent, along with Place Vendôme from Boucheron have exceeded our expectations and were meaningful contributors to our sales growth during the third quarter.”
Regarding our U.S.-based operations, Madar noted, “Our U.S. business continues to become a more significant portion of our overall sales. Increasing popularity in Asian markets coupled with the highly successful rollout of La Vie de Bohème this past spring and summer led to solid growth for Anna Sui fragrances during the third quarter. Taking over Alfred Dunhill legacy fragrances in April 2013 provided an incremental contribution to our third quarter sales, as did initial sales of Agent Provocateur legacy scents. During the third quarter, we introduced Wildbloom Rouge and Wildblue Noir for Banana Republic and Nouveau for bebe. Notably, we are very excited about our recent agreement with internationally renowned fashion house, Oscar de la Renta, and expect the brand to further enhance the performance of our U.S.-based operations in the coming year.”
In regard to its 2014 guidance, the company announced it will revisit the subject with the contribution of Oscar de la Renta fragrances when it reports third quarter results on or about November 6, 2013.