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Inter Parfums Reports 34% Net Sales Increase for 2011
Posted: January 25, 2012
Inter Parfums, Inc. announced that net sales for the fourth quarter of 2011 were approximately $189.1 million, a 68% increase from $112.5 million in the fourth quarter of 2010. At comparable foreign currency exchange rates, fourth quarter net sales were up 61%. Thus 2011 net sales rose 34% to $615.2 million, exceeding management’s guidance of $570 million. At comparable foreign currency exchange rates, 2011 net sales were up 28%. Inter Parfums plans to issue its results for the fourth quarter and year ended Dec. 31, 2011 on or about March 13, 2012.
For the three months ending Dec. 31, 2011, European-based product sales were at $169.6 million, up 77.7% from $95.5 million in the same quarter in 2010; and U.S.-based product sales were at $19.5 million, up 14.6% from 2010’s $17 million. For the year ending Dec. 31, 2011, European-based product sales clocked in at $552.4 million, an increase of 36.4% over 2010’s $404.9 million; and U.S.-based product sales for the year ending Dec. 31, 2011 came in at $62.8 million, up 13% over 2010’s $55.5 million.
Discussing European-based operations, Jean Madar, chairman and CEO of Inter Parfums, noted, “In local currency, Burberry fragrance sales were up 96% in the final quarter of 2011 and 20% for the full year 2011 due in great part to solid performances by the brand's historic lines and the highly successful global rollout of Burberry Body. Other factors contributing to the sales increase include the continued strong momentum of the Jimmy Choo and Montblanc fragrance launches. In addition, the 2011 sales increase reflects the commencement in January 2011 of European-based product distribution in the U.S. by Interparfums Luxury Brands, a subsidiary of Interparfums, S.A.”
Madar went on to say, “We were very pleased by the continued sales strength in 2011 for our European-based products in certain markets. Sales in local currency in Asia rose 37%, the Middle East by 20%, Eastern Europe by 17% and South America by 48% as compared to 2010. Even in our largest, most established markets there was significant year-over-year growth as sales in Western Europe rose 10% in local currency, while North America posted an 87% increase, which includes the positive effect of taking over European-based product distribution in the U.S.”
With respect to Burberry, Madar stated that, “Discussions which started in December 2011 with Burberry regarding the establishment of a new operational structure for the fragrance and beauty business are continuing."
On the subject of U.S.-based operations, Madar pointed out, “While there were no major launches in the final quarter of the year, sales were ahead of last year due to the continued rollout and reorders of Betsey Johnson Too Too and the continued strong performance of our specialty retail products in international markets.”