PARIS — Inter Parfums SA reported Friday that its first-quarter sales rose 3.1 percent at actual exchange rates to 77.2 million euros, or $87.1 million
A rise in the value of the dollar against the euro — with the firm’s North America sales seeing 29 percent growth over the quarter — helped to offset tough comparisons with same quarter last year.
At constant exchange rates, revenues declined 6.4 percent, which the Paris-based subsidiary of Inter Parfums Inc. of New York blamed on the tough comps, owing to the launch of Karl Lagerfeld fragrances in the year-ago quarter.
Dollar figures have been calculated at average exchange rates for the period.
By brand, sales rose 72 percent for Repetto, 52 percent for Jimmy Choo, 19 percent for Montblanc and 13 percent for Boucheron. Brands in negative territory included Karl Lagerfeld, down 77 percent; Balmain 52 percent; and Paul Smith 22 percent, while Lanvin, Van Cleef & Arpels and S.T. Dupont registered low single-digit declines.
Montblanc generated the majority of sales in the quarter, notching up 24 million euros, or $27.1 million, in sales thanks to growth in its Montblanc Legend and Montblanc Emblem lines, followed by Jimmy Choo, whose sales for the period stood at 19.2 million euros, or $21.7 million, driven by the Jimmy Choo Man line and a new fragrance, Jimmy Choo Blossom. The company expects a “more robust” performance of Karl Lagerfeld fragrances in the remainder of the year, with the forthcoming launch of its Private Klub line.
By region, North American improved 29 percent, driven by the strong performance of both the Montblanc Legend fragrance and the Jimmy Choo Man line. In contrast, European sales declined, also linked to tough comps with the same quarter last year when the Karl Lagerfeld line was introduced in those territories, the company said.
The French company confirmed its sales forecast for the full year of 310 million to 320 million euros. Inter Parfums also noted that it expects its acquisition of the Rochas brand from Proctor & Gamble to be finalized before the summer.