Inter Parfums Net Inches Up
NEW YORK — Inter Parfums Inc. on Wednesday reported essentially flat earnings for the quarter ended March 31. The company posted income of $4.42 million, or 22 cents a share, compared with income of $4.40 million, or 22 cents, in the same year-ago quarter. Sales declined 0.3 percent to $70.9 million from $71.1 million.
The firm said that due to the strength of the U.S. dollar, at comparable foreign exchange rates, sales rose 5 percent for the period.
Jean Madar, chairman and chief executive officer, said in a statement that contributing to the quarter were strong Lanvin sales, as well as the launch of Burberry London for women in the U.S. The broader geographic rollout in Europe is now under way.
“While we have an ambitious 2006 prestige product launch schedule for the remainder of the year, our major ones are scheduled for the second half of the year. These include a new Lanvin fragrance for women, Burberry London for men and a new Paul Smith fragrance for men. We also have men’s fragrances for S.T. Dupont and Nickel being unveiled in the spring and summer,” he said.
The ceo added that the company remains “on schedule” for the new personal care product launch at Banana Republic stores in the U.S. and Canada in fall 2006, followed by the early 2007 rollout of personal care products for Gap stores. He said the company expanded its agreement with Gap Inc. in March to include Gap Outlet and Banana Republic Factory stores.
Inter Parfums is also developing products for the 2006 holiday season, Madar noted.
— Vicki M. Young
Seigal to Perfume Shop
PARIS — A.S. Watson, the world’s largest health and beauty retailer, said Tuesday Jeremy Seigal has been named managing director of the U.K.’s The Perfume Shop.
He replaces Philip Newton, a co-founder and chairman of the perfumery chain, who has left the firm for personal reasons, according to an A.S. Watson spokeswoman.
Also Tuesday, the company announced it has incorporated The Perfume Shop into the Luxury Perfumeries & Cosmetics division.
The firm created the division in January with Hugues Witvoet as chief executive officer, but officially announced its formation only this week upon The Perfume Shop’s integration into the subsidiary. The division also includes France’s Marionnaud Parfumeries and Benelux-based ICI Paris XL.
“I am very proud to lead this new division,” Witvoet said in a statement.
“My team will continue to work closely with suppliers, continuing the work undertaken in 2005. The main objectives of the Luxury Division are to maximize synergies, anticipate market evolutions for skin care and beauty products, and strengthen relationships with suppliers to generate growth.”
Ian Wade, managing director of A.S. Watson, said the A.S. Watson Luxury Division Europe will focus on consolidating the group’s retail businesses to maximize synergies and growth while enhancing relationships with suppliers.
A.S. Watson is the retail arm of Hutchinson Whampoa Ltd.
— Ellen Groves