Inter Parfums Inc. posted a 7.6 percent increase in sales for the third quarter.
Net sales for European and U.S.-based operations totaled $169.5 million in the quarter, up from $157.6 million in the prior-year period. European sales increased 9.1 percent, to $134.6 million, and U.S. sales grew 2 percent, to $34.9 million. Converted to euros, the numbers appear differently due to currency volatility.
For the nine months ended Sept. 30, the company posted a 14.3 percent increase in sales, with $441.7 million. European sales were $361 million, up 18.7 percent from the prior-year period, and U.S. sales were down 1.8 percent year-over-year, with $80.7 million in sales.
“During the current third quarter, Montblanc, Coach and Rochas brand sales rose 13 percent, 34 percent and 33 percent, respectively, over the comparable period last year,” said Jean Madar, chairman and chief executive officer of Inter Parfums, speaking about European operations. “Jimmy Choo brand sales were essentially unchanged in this year’s third quarter and Lanvin brand sales were down about 8 percent. However, year-to-date, Jimmy Choo and Lanvin brand sales were up 24 percent and 14 percent, respectively.
“The outstanding performance of our two newest brands, Coach and Rochas, is especially gratifying. Strong sales of the Coach women’s line, which rolled out in 2016, combined with the recent launch of the brand’s signature scent for men, produced the excellent brand sales growth in the third quarter. The dramatic increase in Rochas fragrance sales was primarily attributable to the strength of the Eau de Rochas line and the successful rollout of Mademoiselle Rochas in around 15 markets thus far.”
Speaking about the company’s U.S. business, Madar continued, “Initial shipments of Icon Racing by Dunhill and Fantasia by Anna Sui began in September, which contributed to the increase in third-quarter sales. However, this quarterly comparison is an unusually difficult one due to the 19 percent comparable quarter increase in net sales achieved in last year’s third quarter as a result of the international rollout of the Abercrombie & Fitch men’s scent, First Instinct, and the Hollister fragrance duo, Wave.”
The company raised its 2017 sales guidance to between $575 million and $580 million from between $560 million and $570 million. Inter Parfums is scheduled to release full financial results for the quarter Nov. 8.