PARIS — Inter Parfums Inc. posted second-quarter revenues of $99.1 million, a 19.7 percent increase from $82.8 million during the same period a year ago. At constant exchange, sales rose by 12 percent.
This story first appeared in the July 24, 2008 issue of WWD. Subscribe Today.
During the quarter, “European operations achieved sales of $83.9 million, up 19 percent from $70.4 million in the same period last year,” stated Jean Madar, chairman and chief executive officer of the New York-based firm.
The company’s first-half net sales jumped 32.3 percent to $222.2 million from $167.9 million in the year-ago period, a 24 percent increase at constant exchange.
Meanwhile, Inter Parfums SA, the Paris-based subsidiary of Inter Parfums Inc., registered first-half 2008 sales of 128.3 million euros, or $196.4 million at average exchange, a 16.3 percent increase on first-half 2007. At constant exchange, revenues gained 24 percent in the period.
Inter Parfums SA attributed the growth to numerous factors, including Burberry fragrances, whose sales came in at 88 million euros, or $134.7 million, up 19 percent, or 27 percent at constant exchange. Lanvin fragrances met targets and had “robust” revenue growth, particularly in Asia and Eastern Europe, stated Inter Parfums SA. The Van Cleef & Arpels fragrance business “exceeded expectations,” thanks to its classic scents and broadened worldwide distribution. Inter Parfums SA’s other fragrance brands, including Roxy, S.T. Dupont, Nickel and Christian Lacroix, were generally on target, according to the firm.
Its sales in Asia, which generates 16 percent of overall business, rose 30 percent to 20.5 million euros, or $31.4 million, in the half. Revenues in France had a 27 percent uptick, while sales in Western Europe gained 21 percent; in the Middle East, 26 percent, and in South America, 38 percent. In North America, Inter Parfums SA’s sales declined 5 percent due to the weak U.S. dollar. However, the business there grew 8 percent in volume terms.
Inter Parfums SA reconfirmed its full-year 2008 sales guidance of about 260 million euros, or $408.9 million, based on the current euro-dollar exchange rate, while Inter Parfums Inc. affirmed its sales guidance of approximately $460 million for the year.
The company said it recently extended its fragrance and cosmetics licensing agreement with Paul Smith for seven more years, through Dec. 31, 2017. The prior 12-year agreement was signed in December 1998.�