LONDON — Inter Parfums SA announced its first-quarter 2009 sales dipped 15 percent to 63 million euros, or $90.6 million at average exchange, versus the first quarter of 2008.
This story first appeared in the April 24, 2009 issue of WWD. Subscribe Today.
The Paris-based subsidiary of Inter Parfums Inc. said the results were in-line with its internal projections and “satisfactory” given the current economic climate. The company attributed the sales slide to a tough comparison with the same period in 2008, which was bolstered by the launch of Burberry The Beat fragrance.
“In the 2009 first quarter, the perfume and cosmetics market experienced a downturn in worldwide demand, while distributors significantly reduced inventories,” the company stated.
In the quarter ended March 31, Inter Parfums SA’s Burberry business generated 42 million euros, or $60.4 million, boosted by the launch of Burberry The Beat for Men. Meanwhile, its Lanvin fragrance sales came in at close to 9 million euros, or $12.9 million, helped by order renewals for the Jeanne Lanvin scent and the launch of Lanvin L’Homme Sport.
By geographic zone, the firm said Burberry’s performance in the U.S. helped to limit a sales downturn in North America, where Roxy fragrances experienced a “significant drop” in sales. Inter Parfums said the U.K., Spain, Brazil, Argentina and Russia suffered, whereas activity in France, Italy, China and Saudi Arabia remained at “satisfactory levels.”