Inter Parfums Inc. posted a slight increase in sales over the holiday season, as numbers were dragged down by fluctuations in currency exchange rates.
The company posted a 0.3 percent increase in net sales year-over-year to $177.8 million for the quarter ended Dec. 31, up from $177.2 million in the prior-year period.
Inter Parfums said the numbers were affected by shifts in exchange rates.
Chief executive officer Jean Madar said, “Two thousand nineteen was a record year for sales, achieved despite the depressing effect of a strong dollar and the small number of major launches compared to prior years. We also count among our other accomplishments the addition of two important names, Kate Spade New York and MCM, as well as the extension of our license for the Oscar de la Renta brand.”
European-based product sales, which make up the bulk of Inter Parfums’ revenues, were down 4.2 percent to $129.1 million, while U.S.-based sales were up 14.7 percent to $48.7 million.
Montblanc sales were up for the quarter, but due to exchange rates, Jimmy Choo sales were down, Madar said, as were Coach sales. Karl Lagerfeld and Van Cleef & Arpels both grew.
Guess, which released two brand extensions, posted strong growth, as did Abercrombie & Fitch and Hollister, supported by launches.
Madar said the company has a “more robust launch schedule” for 2020, including a new women’s scent under Guess, a fragrance duo for Hollister, and the debut of Anna Sui’s Sky in the fall. The business is also readying its first scent collection for diamond business Graff, which has a six-month exclusive with Harrod’s in the spring that will be followed by international luxury distribution.
A new Coach fragrance for women is expected to hit later this winter, and new scents from Montblanc, Kate Spade, and Jimmy Choo are also expected this year.
Inter Parfums is projected net sales of $742 million for 2020, with earnings of $2 per diluted share.
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