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Inter Parfums Sees 24% Sales Jump for Q1 2012 Over Q1 2011
Posted: April 27, 2012
Inter Parfums, Inc. announced net sales for the three months ended March 31, 2012, set a first quarter record of approximately $165.4 million, a 24% increase from $133.4 million in the first quarter of 2011. At comparable foreign currency exchange rates, net sales for the first quarter were up 26%.
The company’s European-based product sales for the period were $145.2 million, up 19% from the same period in 2011. And U.S.-based product sales soared 71% over 2011’s $11.8 million, up to $20.2 million for the three months ending March 31, 2012.
"In local currency, the largest brands within our European-based operations performed exceptionally well," stated Jean Madar, chairman and CEO of Inter Parfums, Inc. "Burberry fragrance sales were up 12% due to strong gains by the brand's established lines and the global rollout of the Burberry Body line launched in the third quarter of 2011. Comparable quarter sales of Lanvin fragrances also increased 12% due to continuing gains by the Eclat d'Arpege line and the steady performances of Jeanne Lanvin and Marry Me!. The momentum of the Jimmy Choo Eau de Parfum continued into 2012 helped by the launch of Jimmy Choo Eau de Toilette, resulting in a 68% increase in brand sales. Montblanc sales rose 77% due to the staying power and broader distribution of Legend which debuted last year.
“Top line growth has been especially strong in North America, the Middle East and Asia where sales rose 68%, 35% and 22%, respectively. Despite the difficult economic environment, sales in Europe have been growing, with Eastern and Western Europe generating comparable quarter sales increases of 7% and 4%, respectively.
"Sales by our U.S.-based operations increased 71% due in great part to the inclusion of Anna Sui fragrance sales effective January 1. In addition, during the first quarter Love Fury by Nine West debuted as did Wildbloom Vert for Banana Republic. First quarter sales also continued to benefit from international distribution of U.S. specialty retail and designer brands," concluded Madar.