PARIS — Inter Parfums SA reported fourth-quarter 2015 sales gained 8 percent, driven by slightly higher-than-expected year-end performances, especially for Rochas and Jimmy Choo fragrances.
Sales at the Paris-based subsidiary of Inter Parfums Inc. of New York, reached 81 million euros, or $88.7 million, in the three months ended Dec. 31.
For the full year, revenues were 327.4 million euros, or $363.6 million, up 10 percent, driven by a strong rise in the U.S. dollar. On a constant-currency basis, sales increased 2 percent in the 12-month period.
Dollar figures are converted at average exchange rates for the periods in question.
Philippe Benacin, chairman and chief executive officer of Inter Parfums SA, called 2015 “an exceptional year for Jimmy Choo fragrances [which grew] more than 40 percent in one year. Combined with Rochas’ integration and further gains by Montblanc fragrances, we clearly had a good year, a performance that furthermore benefited from the level of the euro-U.S. dollar exchange rates.”
Geographical highlights last year included North America becoming Inter Parfums SA’s largest market, generating 23 percent of sales. This reflected strong sales of Jimmy Choo fragrances and the positive foreign exchange environment.
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Sales grew in Western Europe by almost 11 percent, bolstered by the start-up of Rochas fragrances, especially in Spain.
Meanwhile, a slowdown in Asia was confirmed and South America was negatively impacted by unfavorable market conditions in Brazil, Argentina and Colombia.
Inter Parfums SA is optimistic for this year.
“The additional sales registered at the end of 2015 in conjunction with a currency effect still favorable in the 2015 fourth quarter should allow us to achieve an operating margin between 12 and 13 percent. In 2016, if the level of the euro-U.S. dollar exchange rate persists, we will pursue our strategy of reinvesting a significant portion of the resulting gains in the promotion of our brands in order to accelerate their development,” said Philippe Santi, executive vice president and chief financial officer of the company.
Benacin called the outlook for 2016 “promising” and highlighted the fall launch of a new women’s fragrance for Coach, Inter Parfums’ first initiative for the label since signing the license with the brand in spring 2015.
Inter Parfums SA is to publish its annual results on March 14.