Inter Parfums Inc. saw bottom- and top-line gains in the second quarter and said it has a pile of cash ready to reinvent for post-Burberry life next year.
Net income attributable to Inter Parfums rose 20.3 percent to $6 million, or 20 cents a share, from $5 million, or 16 cents, a year earlier. Sales for the quarter ended June 30 rose 20.2 percent to $145.6 million from $121.1 million.
“With strong performances across our prestige brand portfolio, we achieved an 18 percent increase in European-based sales,” said Russell Greenberg, executive vice president and chief financial officer. “U.S.-based operations achieved 37 percent sales growth, with the inclusion of Anna Sui fragrance sales since the start of the year accounting for much of that gain.”
“We have planned for this eventuality and face this new chapter in our history with confidence,” said Jean Madar, chairman and chief executive officer. “We expect to begin 2013 with nearly $250 million in cash and shareholders’ equity of approximately $375 million, placing us in an excellent financial position to support the growth of existing brands and further enhance our growth potential by seeking to add new brands to our portfolio either on a proprietary basis or as a licensee.”
The beauty firm’s licensed businesses include Lanvin, Jimmy Choo, Gap, Brooks Brothers and others.
Etro’s show, titled “The Tree of Life,” was a celebration of the house’s 50th anniversary. “My father founded the company in 1968, which was the year of counterculture and psychedelia. It’s really a show that celebrates that and the paisley design of India and its origin,” said Veronica Etro. #wwdfashion #mfw #ss18 (📷: @delphineachard)
For @msgm’s spring 2018 show, creative director @massimogiorgetti said “Words, sounds, colors. Synthesis and therapy of a collection,” were the inspirations behind the collection, showing today. Read the rest of Milan spring 2018 inspirations on WWD.com. #mfw #wwdfashion #ss18
For her first solo album in over 10 years, Fergie tapped Carine Roitfeld, Mert and Marcus, Giovanni Bianco and more to create a fashion-focused video approach for the record, Double Dutchess. "Giovanni really helped me get back in touch with my tomboy side, my hardside," said the singer. #wwdeye #wwdfashion ( : @slovekinpics)
“Volumes and Graphic Art of the Nineties are the main inspirations of the new Aquilano.Rimondi SS 2018 collection,” said cocreative directors Tommaso Aquilano and Roberto Rimondi. #wwdfashion #mfw #ss18