Inter Parfums Inc. sees a strong year ahead, after a better-than-expected 2012.
The fragrance firm’s 2012 net sales gained 6.3 percent to $654.1 million, ahead of previous guidance of $632 million. At comparable foreign exchange rates, sales rose 9.4 percent.
For the forth quarter ended Dec. 31, net sales declined 6.4 percent to $176.9 million, compared to the prior-year-period which Inter Parfums called “a period of unprecedented launches.” At comparable exchange, sales were down 7.7 percent. The company plans to issue earnings results for the quarter and the year in March.
Inter Parfums chairman and chief executive officer Jean Madar credited several brands, namely Lanvin and Burberry, for the fiscal sales bump.
By region, the U.S. business provided a solid lift, with sales up 31.1 percent in 2012 from the previous year, driven by the addition of the Anna Sui franchise.
“International distribution of U.S. specialty retail brands, and several fragrance launches for namesake stores, also factored into the top-line growth,” said Madar. “Additionally, in the final months of 2012, we began to ship Lanvin travel amenities to Sofitel Hotels.”
As previously announced, Inter Parfums and Burberry will end their licensing agreement, and as agreed upon Inter Parfums received the $239 million exit payment from Burberry on Dec. 21.