Parlux Fragrances reported preliminary net sales for the third quarter ended Dec. 31 were up 2.5 percent to about $48.5 million, from $47.3 million during the same period a year ago.
Revenues for the nine-month period were estimated to be $128.6 million, up 4.6 percent from $123 million in the prior-year period.
The results exclude approximately $3.5 million worth of Guess inventory that was sold at cost during the quarter to Coty Inc., the new Guess fragrance licensee, Parlux noted. Including the sales to Coty, net sales for the third quarter increased by 10 percent to $52 million and, for the nine months, increased 7 percent to $132.1 million.
“In this difficult economy, the U.S. prestige fragrance industry continued to struggle,” stated Neil J. Katz, chairman and chief executive officer of Parlux. “However, we did see positive trends in the international and mass market channels.”
Katz added, “We were also able to sell our Guess finished goods inventory to our customers and Coty, and continue to negotiate the transfer of our remaining unfinished inventory to Coty. Although not yet finalized, we expect to record some charges for certain Guess promotional items and other unfinished inventory.”
Katz said despite the expiration of the Guess license, he remains optimistic the firm’s new brands and product launches in the upcoming year “will provide a platform for growth and positive results.”
In other Parlux news, Katz will be honored at the 35th annual Beauty Ball, which will be held at Cipriani 42nd Street in Manhattan on March 11.
He will receive the Beautiful Apple Award. Also, Jon Pollack, executive vice president of sales promotion, marketing and e-commerce for Belk Inc., will receive the Retailer of the Year Award.
Lawrence Aiken of the Condé Nast Media Group will be the gala’s honorary chairman.
Harrods plans to remove the famous statue of Princess Diana and Dodi Al Fayed from the bottom of the Egyptian escalators and hand it back to Mohamed Al-Fayed. “We are very proud to have played our role in celebrating the lives of Diana, Princess of Wales and Dodi Al Fayed at Harrods and to have welcomed people from around the world to visit the memorial for the past 20 years,” said Michael Ward, Harrods managing director. “With the announcement of the new official memorial statue to Diana, Princess of Wales at Kensington Palace, we feel that the time is right to return this memorial to Mr. Al Fayed and for the public to be invited to pay their respects at the palace.” More on the news, with reporting by @loreleimarfil, at WWD.com. #wwdnews
@prada is introducing a new project at its men’s fall 2018 show this Sunday: “Prada Invites.” The fashion house invited four celebrated creative minds – @ronanaerwanbouroullec, Konstantin Grcic, @herzogdemeuron and @rem.koolhaas – to each create a unique item with its iconic nylon material. The designs will be unveiled on the runway show, which will take place at the company’s warehouse in Viale Ortles 25. #wwdfashion #mfwm (📷: @martinocarrera)
@kering_official is spinning off its stake in puma in an effort to focus on its luxury brands, the brand operator announced yesterday. “We are proud to have supported the turnaround of Puma, which now has unrivaled capabilities to take full advantage of the specific dynamics of its global markets and is poised to achieve substantial growth,” said François-Henri Pinault, Kering’s chief executive officer and chairman. Artémis will become a “long-term strategic shareholder” of Puma with a 29 percent stake. #wwdnews #wwdfashion (📷: @jilliansollazzo)
The fashion world mourns for celebrated street style photographer, Nabile Quenum, who died at age 32 in Paris.
Quenum, creator of the fashion blog “J’ai Perdu Ma Veste,” was a fashion week fixture, and regularly shot for New York magazine’s The Cut, among other outlets, and brands such as Louis Vuitton, Moncler and Adidas. He was also actively involved in the #NoFreePhotos initiative, which kicked off in the fall. Read more about Quenum in @kbsmoke's story on WWD.com. #wwdnews
@verwanggang and @maisonladuree have teamed up on a dessert collab called Vera Wang Pour Ladurée. The collection, which launched this week, features a specialty macaroon, as well as a wedding cake inspired by one of the designer’s gowns. “I could not imagine a more delicate or sophisticated creation to grace any couple’s celebration,” said Wang. #wwdfashion