The Paris-based subsidiary of Inter Parfums Inc., of New York, said Tuesday that it registered revenues of 92.7 million euros, or $100 million, in the three months ended Dec. 31. At constant exchange, sales rose 14.6 percent versus the same prior-year period.
The strong quarterly performance bolstered Inter Parfums SA’s full-year 2016 revenues, which came in at 365.6 million euros, or $404.7 million, up 11.7 percent in reported terms and 12.5 percent at constant exchange.
Last year, Montblanc perfumes generated sales of 110 million euros, or $121.8 million, up 25 percent. Jimmy Choo posted revenues of 81.7 million euros, or $90.4 million, down 1.9 percent against a tough comparable. (In 2015, the brand’s fragrance sales gained 40 percent.) Meanwhile, in its first full year of activity under license at Inter Parfums SA, Rochas posted revenues of 29 million euros, or $32.1 million.
In the second half of 2016, corresponding to its first six months of business with Inter Parfums SA, Coach made sales of more than 20 million euros, or $22 million.
Dollar figures are calculated at average exchange for the period to which they refer.
Inter Parfums SA’s business in North American remained buoyant, up 29.4 percent. The company registered gains of 13.4 percent in Western Europe and 10.6 percent in Asia.
Philippe Benacin, Inter Parfums SA chairman and chief executive officer, said in a statement that the outlook for 2017 is as promising as the end of 2016. “It will include notably the spring launch of the Mademoiselle Rochas line, the first major initiative since the Rochas brand acquisition in 2015, and the fall launch of the Coach men’s line,” he explained.
“In conjunction with the strength of Montblanc and Jimmy Choo fragrances, and the recent euro-U.S. dollar exchange-rate trends, consolidated sales for 2017 could reach 385 million euros to 390 million euros [or $412 million to $417 million at current exchange],” continued Benacin.
Philippe Santi, executive vice president and chief financial officer of Inter Parfums SA, said the company expects an operating margin of more than 13 percent for this year.
“In 2017, if the favorable euro-U.S. dollar exchange rate is confirmed, then we may be able to intensify our investments in advertising and promotion as part of our continuing focus to develop our brands over the long term,” he stated. “On that basis, the operating margin is not expected to exceed 13 percent to 13.5 percent for 2017.”
The results were well-received by investors. Inter Parfums SA stock closed up 6 percent to 28.10 euros, or $30.30, Tuesday on the Euronext Paris exchange.