Inter Parfums Inc.’s sales were up in both the U.S. and European divisions for the second quarter.
The business reported a 15.7 percent year-over-year net sales increase, to $149.4 million for the three months ended June 30. The European unit posted an 8.3 percent sales gain, to $115.6 million, while the U.S. segment posted a 50.8 percent year-over-year jump, to $33.8 million.
Sales jumped significantly for Jimmy Choo, Coach and Lanvin — they were up 8.2 percent, 98.5 percent and 7.1 percent for the quarter, respectively. The Karl Lagerfeld and Boucheron brands also posted sales gains, while Montblanc sales dipped 9.8 percent from the prior quarter.
Jimmy Choo, which has done consistently well for Inter Parfums over the past few years, is readying to launch Jimmy Choo Fever in the second half of the year, according to Inter Parfums chairman and chief executive officer Jean Madar. The business has also extended its license agreement with Van Cleef & Arpels through Dec. 31, 2024.
For the U.S. segment, sales were driven in part by the company’s acquisition of the Guess fragrance license from Coty Inc.
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“The inclusion of legacy Guess fragrances starting toward the end of the second quarter factored into the nearly 51 percent increase in net sales,” Madar said. “We naturally expect sales of Guess brand fragrances to increase in the second half. Also factoring into the second-quarter sales growth was the successful launch of two brand extensions for the Abercrombie & Fitch First Instinct fragrance family. Additionally, Anna Sui, Dunhill and Oscar de la Renta produced significant comparable quarter sales gains. For Anna Sui and Dunhill, we expanded existing collections with flankers, and for Oscar de la Renta, the new Bella Blanca scent helped grow brand sales.”
Inter Parfums is projecting $665 million in net sales for the year, with $1.59 in net income per diluted share.