03.13.12
Inter Parfums, Inc. reported results for the fourth quarter and year ended Dec. 31, 2011.
For the fourth quarter, net sales rose 68% to $189.1 million. European-based operations generated net sales of $169.6 million, up 78%. Net sales by U.S.-based operations were up nearly 15% to $19.5 million.
Net sales for the year ended Dec. 31, 2011 increased 34% to a record $615.2 million from the prior year. Net income attributable to Inter Parfums, Inc. rose 21% to a record $32.3 million.
Jean Madar, Chairman & CEO of Inter Parfums noted, “2011 was far and away the best year in our history. Not only did we achieve record sales and profits, but we gained further control over product distribution, executed the largest new product launch in our history, enjoyed major success introducing fresh products for our newest brands, and added three valuable names to our brand portfolio: Balmain, Repetto and Anna Sui.”
Madar went on to say, “Several of our prestige portfolio brands showed stellar sales gains. Notably Burberry sales rose 20% for the year in local currency due to the launch of Burberry Body and the staying power of the brand’s historic lines. With the debut of Montblanc Legend, sales were more than three times greater than in 2010, when legacy brand sales were limited to the second half only. In 2011, we recorded first time sales for the Jimmy Choo signature fragrance, which far exceeded expectations; and in the latter part of the year, sales of Boucheron products began. New product launches, including Too Too for Betsey Johnson, and the continued distribution of specialty retail products overseas, were among the reasons for the increase in sales by U.S.-based operations.”
On the subject of Burberry, Madar then added, “Discussions that began in December between Interparfums SA and Burberry on the creation of a new operational structure for the fragrance and beauty business are continuing.”