NEW YORK — Strong first-half sales volume prompted prestige perfume and cosmetics manufacturer Inter Parfums Inc. last week to raise its full-year 2004 sales guidance to $225 million from $222 million.
Sales for the second quarter rose 13 percent to $46.8 million from $41.4 million. The company will report second-quarter operating results on Aug. 11. For the first half of the year, sales were $105.2 million, a 33 percent gain over $79 million in the same year-ago period.
The new full-year sales guidance includes incremental sales from the Lanvin fragrance license that Inter Parfums recently acquired. Net income guidance will remain at $15.8 million, assuming the dollar remains at current levels.
Inter Parfums SA, the Paris-based subsidiary of Inter Parfums Inc., said its consolidated sales for the first half of the year rose 31 percent to 69.2 million euros, or $84.9 million at average exchange, versus the prior-year period. At constant exchange, the uptick was 38 percent.
The subsidiary said its overall sales for fiscal 2004 will fall between 147 million euros and 148 million euros, or $182.9 million and $184.2 million, respectively, at current exchange. The company closed fiscal 2003 with sales of 124.6 million euros, or $141 million at average exchange. — Carrie Melago and Jennifer Weil, Paris
Avon’s New Mark: Men
NEW YORK — Mark, the beautybrand Avon Products Inc. unveiled last August to target 16- to 24-year-old women, hopes to make its mark in the men’s category.
Mark will introduce its first men’s product — a fragrance called Mark.blu — in the November issue of the brand’s “Meet Mark” magalogue. The scent will also be available via meetmark.com, not to mention the company’s field of 20,000 Mark-dedicated sales representatives and those among Avon’s 490,000 U.S.-based sales force who also represent the Mark brand.
Industry sources estimate Mark.blu, a 1.7-oz. cologne spray that’s priced at $18.50, could generate between $1 million and $2 million during its first year on the market. Executives are expecting most of the scent’s purchasers to be young women but didn’t rule out the potential for a male customer base, given that 2 percent of Mark’s sales force is made up of men. The scent targets males aged 18 to 34 years old.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"