New York-based Inter Parfums Inc. report-ed first-quarter net sales increased 55.3% to $58.4 million, compared to $37.6 million in the first quarter of 2003. At comparable foregin currency exchange rates, net sales increased 40%, the company said.
Inter Parfums has raised its 2004 sales guidance to $222 million, including its recently acquired interest in Nickel S.A., a men’s spa and skin care product line. Inter Parfums is maintaining its net income guidance of $15.8 million, as Nickel is not expected to be accretive this year.
In January, Inter Parfums executives said the company expects 2004 sales to be about $217 million.
“The continued geographic rollouts of products launched in the fall of 2003 gave the first quarter of 2004 its significant sales boost,” said Jean Madar, chairman and chief executive officer, in a statement. “We have a strong new product lineup in the works for the second quarter including L’Eau de St. Dupont, Christian Lacroix Summer fragrance, Celine Sensual Summer and later in the year, Paul Smith London (will debut).” He added that Burberry Brit for men will launch in the fall in selected markets.