Inter Parfums Achieves Record 2nd Qtr Sales

Posted on July 25, 2012 @ 08:24 am

Inter Parfums, Inc. had a record second quarter with sales of approximately $145.6 million, a 20% increase from $121.1 million in the second quarter of 2011. At comparable foreign currency exchange rates, second quarter net sales were up approximately 29%. Inter Parfums plans to issue its results for the second quarter of 2012 on or about August 8, 2012.

“The favorable trends of the first quarter continued into the second quarter with strong performances across our brand portfolio,” said Jean Madar, Chairman & CEO of Inter Parfums when discussing European-based operations. “Compared to the same periods in 2011, Burberry sales rose 34% for the current second quarter and 21% for the first half on strong growth of established fragrances, including Burberry Body, which launched in late 2011."

While there were no major launches this year, Lanvin fragrance sales increased 13% for the quarter and year-to-date due to continuing gains by Eclat d'Arpege and the steady performances by Jeanne Lanvin and Marry Me! With Montblanc Legend as the catalyst, Montblanc brand sales rose 72% in the second quarter and 75% through the first half, he reported.

Jimmy Choo continues its momentum that began in 2011 with the Eau de Parfum, and continued in 2012 with the Eau de Toilette, resulting in a 13% and 42% increase in brand sales for the second quarter and first half, respectively. Some of the smaller brands in the company'sportfolio are also generating significant year-to-date gains, including Boucheron, which had a more than fivefold increase in sales, and S.T. Dupont with a 48% sales increase compared to the first half of 2011. He added that top line growth has been especially strong in North America, the Middle East, Asia, and South America where year-to-date sales rose 56%, 40%, 22%, and 35%, respectively.

For U.S.-based operations, second quarter sales benefited from the inclusion of Anna Sui fragrance sales and the launch of our first Nine West fragrance, Love Fury. Additionally the company brought a number of new products to market during the quarter including: Miss Madison by Brooks Brothers, Wishes & Dreams for bebe, and a new men's scent, Wildbloom Blue for Banana Republic.

“Based upon our performance thus far this year, our expectations for the second half and the strength of the dollar relative to the euro, which was 15% higher on June 30, 2012, as compared to June 30, 2011, we are increasing our 2012 sales guidance to $632 million,” said Russell Greenberg, executive vice president & chief financial officer. “We are likewise increasing our guidance for net income attributable to Inter Parfums, Inc. to approximately $35.9 million or $1.17 per diluted share. Our guidance assumes the dollar remains at current levels.”