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UPDATE: Inter Parfums Reports Strong Growth, Teases New Launch

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Inter Parfums' forthcoming Coach fragrance is expected to boost sales through 2017.

Following a net sales drop for 2015, Inter Parfums has announced that first-half 2016 net sales grew 14.8%, year-over-year, totaling $117.2 million (2015: $102.0 million). At comparable foreign currency exchange rates, consolidated second quarter net sales increased 14.2%.

The company will have several launches coming in the second half of the year, including a debut Coach scent, which will enter 3,000 US doors and 20,000 doors globally by the close of 2017.

Update: Inter Parfums, Inc. has reported second quarter 2016 net sales of $117.2 million, up 14.8% from $102.0 million during the same period, 2015. Europe posted 14.8% growth for the period, as did the United States.

For the second half of the year, the company believes growth will be driven by sales of the first Coach scent for women, the new Abercrombie & Fitch and Hollister scents, and the launch of Icon Elite by Dunhill.

The company is now forecasting full-year net sales of $500 million to $510 million.

“Once again, Montblanc, our largest brand, drove our top line growth with brand sales of $26.3 million, up 32% from last year’s second quarter," said Jean Madar, chairman and CEO of Inter Parfums, Inc. "This growth was primarily due to strong sales of the newly launched Legend Spirit line and the ongoing success of the original Legend line. Our second largest brand, Jimmy Choo, also had a strong second quarter with brand sales up 43% to $22 million, reflecting wider distribution of Illicit, which debuted last year, and the steady performance of Jimmy Choo Man, which launched in 2014. Rochas fragrances contributed $8.9 million to second quarter sales resulting from sales of legacy scents in the brand’s core markets of Spain and France. Lanvin fragrance sales declined 19% to $12.4 million due primarily to the economic slowdown in two of its primary markets, Russia and China. We hope to counter this trend with a new Lanvin women's line Modern Princess, launching in selected markets this fall and internationally in 2017."

Madar added, “Our U.S. based operations delivered solid growth in the second quarter. The launches of our first new Abercrombie & Fitch men’s scent, First Instinct, and the Hollister duo, Wave, began in late spring and were major contributors to our second quarter sales growth. In addition, Dunhill fragrances continue to be consistent top performers, achieving an increase of 23% in brand sales for the period.” 

He concluded, “Thus far this year, our two largest markets were also our two fastest growing markets with sales in Western Europe and North America up 44.6% and 10.5%, respectively. Despite negative market conditions in China, our overall sales in Asia, our third largest market, are slightly ahead of the first half of last year.” 

Original report: “The growth in sales reflects the exceptional performance of Montblanc and Jimmy Choo fragrances and the successful integration of Rochas fragrances, acquired in 2015," said Jean Madar, chairman & CEO of Inter Parfums.

He continued, "Contributing to the 32% second quarter increase in Montblanc brand sales was the very promising launch of the Legend Spirit line and the continued popularity of the original Legend line. Jimmy Choo fragrance sales rose 43%, due in great part to the ongoing roll-out of Illicit, our third women's line which debuted last year and the steady performance of the Jimmy Choo Man line."

Madar concluded, "Rochas fragrance sales have been strong in Spain and France, the brand’s most established markets, thanks to legacy scents, Eau de Rochas and Rochas Man. Of our larger brands, only Lanvin fragrance sales declined due primarily to the economic slowdown in its two flagship markets, Russia and China. With the fall launch of a new Lanvin scent, we are looking to revitalize brand sales.”

Madar also commented on the company's US business: “International distribution of our first new Abercrombie & Fitch men’s scent, First Instinct, and the Hollister duo, Wave, were major contributors to our top line growth. In the second half, distribution of these new scents will continue to roll out to additional International markets. Dunhill has been a consistent top performing brand and this reporting period is no exception, with comparable quarter sales up 23%, which was achieved in the absence of a new product launch.”

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