PARLUX SALES SOAR: Poised to launch a fragrance by infamous heiress Paris Hilton, Parlux Fragrances Inc. saw its sales skyrocket and net income soar during the first quarter.The Fort Lauderdale, Fla.-based prestige fragrance manufacturer...
PARLUX SALES SOAR: Poised to launch a fragrance by infamous heiress Paris Hilton, Parlux Fragrances Inc. saw its sales skyrocket and net income soar during the first quarter.The Fort Lauderdale, Fla.-based prestige fragrance manufacturer reported net income of $2.2 million, or 21 cents per share, up 206 percent from $717,344, or 8 cents, a year ago, while sales jumped 36 percent to $22.9 million from $16.9 million.
With the company’s upcoming launches of Hilton’s fragrance and Guess products, chairman and chief executive officer Ilia Lekach cautioned that these strong results might not be mimicked in the next quarter.
“We continue to invest in the development of new and exciting products for the launches of our Guess and Paris Hilton licenses to broaden the base of our business for the future,” Lekach said in a statement. “We expect to initiate advertising and promotion for these two new brands in the second half of this fiscal year in anticipation of sales, some of which will not occur until fiscal 2006.”
The company’s operating income reached $3.5 million, or 15 percent of net sales, compared to $1.22 million, or 7 percent, the prior year.
SISLEY APPOINTMENT: Marie-Laure Mathieu has been promoted to the post of executive vice president of Sisley USA. Mathieu had been the firm’s business analyst since last year. She joined the company in 1996 as an account executive in charge of the New York area.
SPF SOIREE: Estée Lauder Cos. group president Philip Shearer will be a co-honoree at the Skin Cancer Foundation’s Skin Sense Award Gala, which is scheduled to be held at the Pierre Hotel on Oct. 19. John R. Leone, president of global dermatology for Dermik/Aventis, will also be honored.
FRAGRANCE BUZZ: While fragrance sales may be lackluster, editorial coverage of the industry is anything but, according to recent findings by tracking firm Right Angle Research. The company found that the number of stories about fragrances increased 18.4 percent during the first quarter of 2004 compared with the same period last year.
The second quarter experienced a 38.9 percent increase in editorial coverage of scents. Right Angle surveyed 139 consumer magazines in the U.S., looking for brands marketed by 59 companies. On the business end, fragrance ad pages dipped 3.7 percent in the first quarter but increased 6.8 percent during the second quarter.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)