PARIS — Interparfums SA reported first-quarter 2017 sales gained 34.3 percent, driven by organic growth from established lines and some well-received launches over the last six months, including Coach, Mademoiselle Rochas, Jimmy Choo L’Eau, Jimmy Choo Man Ice and Lanvin Modern Princess.
The Paris-based subsidiary of Interparfums Inc., of New York, said Friday that revenues totaled 112.4 million euros, or $123.5 million at average exchange, in the three months ended March 31. At constant exchange, sales advanced 32.7 percent.
“With the concentration of several major launches at the beginning of the year, first quarter growth was particularly robust. For that same reason, it is not possible to extrapolate from this initial performance the trend for subsequent quarters,” Philippe Benacin, chairman and chief executive officer of Interparfums SA, said in a statement.
“In light of the relatively volatile global economic environment, we thus remain cautious while confirming our guidance for growth with a target for 2017 full-year revenue of 390 million euros [or $424.4 million at current exchange],” he continued.
Jimmy Choo registered sales in the quarter of 31.6 million euros, or $34.7 million, up 62 percent versus the same prior-year period. The label’s first men’s lines continued selling well, while the new Jimmy Choo L’Eau and Jimmy Choo Man Ice got off to a strong start.
Lanvin fragrances returned to growth, with sales up 51 percent to 16.7 million euros, or $18.3 million, boosted by the ongoing performance of Eclat d’Arpège and the launch of Modern Princess abroad, and following a difficult 2016 with the economic slowdown in two of its key markets, Russia and China.
Mademoiselle Rochas and Rochas’ historic collections led the brand to reach sales of 8.6 million euros, or $9.4, representing a 48 percent gain.
Coach sales came in at 7.6 million euros, or $8.3 million, thanks to the introduction of the Coach collection in the second half of 2016.
All geographies posted strong growth, including North America, up 31 percent, and Asia, with a 37 percent rise. “In Western Europe, gains were more moderate, reflecting the high comparison base from the Montblanc Legend Spirit line’s launch in the 2016 first quarter,” the company said.
Linked to the termination of the Balmain license agreement, components and finished products inventory on March 31 worth 1.3 million euros, or $1.4 million, were sold to Balmain at its net carrying value.