Coronavirus Impact: Inter Parfums Sales Drop 70%

Business

Stein Mart Files Chapter 11 Bankruptcy

18h • Kellie Ell

Inter Parfums reported a sharp dip in sales due to the coronavirus pandemic. Clockwise from the top: Coach Floral; $60 for 1.0-oz.; Perfumer: Nadge Le Garlantezec, Shyamala Maisondieu and Nathalie Cetto for Givaudan Marc Jacobs Daisy Love; $104 for 3.4-oz.; Perfumer: Alberto Morillas for Firmenich Kenneth Cole for Him; $85 for 3.4-oz.; Perfumer: Philippe Romano for Drom Ariana Grande Cloud; $60 for 3.4-oz.; Perfumer: Clement Gavarry for Firmenich VictoriaÕs Secret Tease Rebel; $68 for 3.4-oz.; Perfumer: Stephen Nilsen for Givaudan Coach Platinum; $95 for 3.3-oz.; Perfumer: Bruno Jovanovic for IFF Versace Dylan Blue Pour Femme; $120 for 3.3-oz.; Perfumer: Calice Becker for Givaudan Christian Siriano Silhouette in Bloom; $92 for 3.4-o.z; Perfumer: Honorine Blanc for Firmenich Paco Rabanne 1 Million Lucky; $90 for 3.4-oz.; Perfumer: Nathalie Cetto for Givaudan

Kevin Norris/WWD

Inter Parfums Inc. has seen a sharp drop in sales due to the coronavirus pandemic, the company said Wednesday.

European-based sales fell 68.6 percent, to $39.4 million for the quarter ended June 30, while U.S. sales dropped 75.2 percent, to $10.1 million.

Chairman and chief executive officer Jean Madar said that the company had anticipated sales declines due to the COVID-19 pandemic. “The impact of the COVID-19 pandemic, most notably store closures in many of the countries where our products are sold, was the primary reason for the steep decline in sales,” he said in a statement, adding that as stores started to reopen in May and June, sales started to rebound from “dismal” April levels.

“We are hopeful that this trend will continue as more stores reopen and customers feel more confident about in-store shopping,” he added.

That being said, Inter Parfums expects continued challenges for the rest of the year, especially in travel retail, which has historically made up between 15 percent and 20 percent of the overall business.

For more from WWD.com, see:

Essentialist

Today's Must Read

Business

EXCLUSIVE: Prada to Debut Full Re-Nylon Collection at Selfridges'…

August 12, 2020 • Samantha Conti

Social Studies

@wwd

@Gisou, the honeybee-based hair-care brand founded by influencer @negin_mirsalehi has a new distribution exclusive with @Sephora.⁣ ⁣ The brand, which specializes in honey and propolis-based products derived from Mirsalehi’s father’s hives, remains a direct-to-consumer proposition. Although it sells through some physical stores, and across more than 30 markets, the Sephora deal marks its first major retail partnership.⁣ ⁣ Jennifer Lucchese, vice president, merchandising, hair care at Sephora, said the company wanted to work with Gisou because of its “totally unique and authentic ingredient story, with a powerful founder behind it. With Negin Mirsalehi coming from a family of beekeepers, she is the perfect person to bring honey-based hair care to Sephora.”⁣ ⁣ Tap the link in bio for more. ⁣ ⁣ Report: Samantha Conti
@wwd

Sacai’s Chitose Abe collaborated with Brooklyn-based artist Hank Willis Thomas on “Love Over Rules” inspired collections. ⁣ ⁣ Thomas created a bold, uppercase graphic of the “Love Over Rules” inscription. The phrase lent thoughtful, graphic impact to the collections and provided the moving ending to Sacai’s seasonal brand film, directed by Shoji Uchida, that sets out to replicate the backstage activity before a fashion show.⁣ ⁣ “Basically, the collection is to honor and respect all people, and also to agree — Love Over Rules, no matter what their race, culture or sexuality,” Abe said in a video appointment during which she showed the two collections from her Tokyo atelier.⁣ ⁣ Not even in her most introspective moments, did Abe ever question the importance of fashion at a moment of such intense cultural turmoil. “It’s sort of beyond the question of whether fashion is important or not,” she noted. “What I [think about] is how to make the wearer feel good about themselves and how to give that person confidence by wearing the clothes. So it’s not just about whether fashion is important, but how it’s going to make that person feel. It’s about self-expression.”⁣ ⁣ Tap the link in bio for the full interview. ⁣ ⁣ Report: Bridget Foley 📸: Yukie Miyazaki
@wwd

YouTuber @neonmuahas, aka Darius McKiver, has partnered with @midascosmetics_ on inclusive face palettes. ⁣ ⁣ The collection marks McKiver's second product collaboration and first in the complexion category. It was inspired by a video fellow beauty YouTuber @nymatang created calling attention to a lack of bronzing options for deep complexions, McKiver said.⁣ ⁣ "[Tang] showed how she had to use an eyeshadow from a Morphe palette as contour and bronzer," McKiver said. "I don’t understand why, with the recent boom of complexion and foundation ranges, we’re still missing something as important as bronzers and contours."⁣ ⁣ Tap the link in bio for more. ⁣ ⁣ Report: @hernameislex
@wwd

@JosephAltuzarra shared his quarantine process with WWD. ⁣ ⁣ “I think what I’ve learned a lot through the last couple months is how much I love the process but also how integral understanding the process is to understanding the product,” he explained on a call for the resort appointment. “We’ve grown in a lot of ways and I’ve sort of taken a step back from doing more of the pure hand work of the collection, and going through this pandemic and being separated from my team and us all being away from each other has allowed me to get back to draping and little stitch trials and going back into the very tactile craft of making a collection.”⁣ ⁣ At the link in bio, Altuzarra talks about his quarantine routine, challenges, silver linings and more.⁣ ⁣ Report: @andrew_shang⁣ Photo: Bruno Staub
@wwd

@JackieAina has launched her own company, and no, it's not beauty — yet. ⁣ ⁣ @ForvrMood is a lifestyle company that launched online on Aug. 10 with a four-piece collection of coconut wax candles that are free of sulfates and parabens. The initial product offering includes a silk pillowcase and matching headband, with prices ranging from $28 to $49.⁣ ⁣ Prior to launch, Forvr Mood accumulated a waitlist of more than 45,000 people. It sold out of pre-sale inventory within minutes — despite not revealing details of the brand or the product lineup before launch.⁣ ⁣ Forvr Mood, whose name is meant to reflect "a vibe and aesthetic without really saying that," is a venture self-funded by Aina that has been in the works since 2018, she said. She plans to expand the company into categories such as fragrance and skincare. Her future makeup line, however, is a separate venture.⁣ ⁣ "The reason why we decided to [launch with a lifestyle company] is because makeup requires a lot more testing and more standardizing," Aina said. "There are some products that I’ve been developing for my — hint, hint — future makeup line for almost two years."⁣ ⁣ Tap the link in bio for more.⁣ ⁣ Report: @hernameislex 📸: @forvrmood