Inter Parfums Inc. reported a net sales increase for the third quarter, driven by Montblanc.
Net sales for the third quarter were $169.5 million up 7.6 percent year-over-year. Net sales for European-based operations were up 9.1 percent to $134.6 million; net sales for U.S.-based operations were up 2 percent year-over-year, to $34.9 million. Net income increased 5.2 percent from the prior-year period to $17.1 million.
Inter Parfums chief executive officer Jean Madar called out Montblac as a winner for the quarter, with a sales increase of 13 percent and year-to-date sales of almost $100 million. He also noted that Jimmy Choo posted sales gains due to Jimmy Choo L’Eau and Jimmy Choo Man Ice. Lanvin sales were down 8 percent for the third quarter, but up 14 percent year-to-date because of gains from Éclat d’Arpège and the international launch of Modern Princess.
“Our newest brands are proving to be exceptional additions to our fragrance portfolio,” Madar said. “Sales of the new Coach scent for men, combined with the strong performance of the Coach signature scent for women, which debuted in the second half of last year, produced the 34 percent increase in third-quarter brand sales. As we reported, third-quarter Rochas brand sales were 33 percent ahead of last year’s third quarter. Beyond the traditional Rochas markets in France and Spain and the very welcome recurring sales of Eau de Rochas in those markets, we have been reviving the nearly century-old brand’s luster and expanded its reach to 15 markets with the launch of Mademoiselle Rochas, with additional sales destinations in the works for this year and next.”
In the U.S., Icon Racing by Dunhill and Fantasia by Anna Sui began shipping in September. That, combined with improvements in Oscar de la Renta fragrance sales bumped U.S. sales figures up for the quarter, Madar said. Offsetting much of these gains, however, were lower comparable-quarter sales of Abercrombie & Fitch and Hollister fragrances, which launched First Instinct, and Wave, respectively, in last year’s second quarter.
Inter Parfums is projecting between $575 million and $580 million in sales for the year, will net income between $1.27 and $1.29 per diluted share.