Inter Parfums, Inc. is raising its 2013 guidance and is now looking for net sales to come in at approximately $540 million resulting in net income attributable to Inter Parfums, Inc. The company also announced preliminary 2014 guidance, which calls for net sales of approximately $475 million, representing a nearly 16% increase compared to anticipated sales of ongoing brands (excluding Burberry) in 2013.
Discussing 2014, Jean Madar, Chairman and CEO of Inter Parfums commented, “We are looking for solid growth in both our European and US-based operations. Expectations remain high for our largest brands, Lanvin, Jimmy Choo and Montblanc. Also, new fragrances for Repetto and Boucheron begin rolling out this fall and we have major new product launches for Balmain and Karl Lagerfeld coming to market in 2014.”
On the subject of US-based operations, Madar noted, “In 2014, our sales should benefit from recently signed license agreements with Alfred Dunhill, Agent Provocateur and Shanghai Tang for which we have new product launches planned. We will also introduce fragrances for a number of our established brands, and reinvigorate existing lines with new packaging.”
Russell Greenberg, Executive Vice President & CFO noted, “As a result of the current strong performance of our brands, we have raised our 2013 sales guidance to approximately $540 million. As we reported last month, during the second half of the year, we are investing heavily in promotion and advertising to bolster support for the aforementioned product launches and the continued worldwide development of our largest brands.”
In the 30 years since its founding, Inter Parfums, Inc. has been selected as the fragrance and beauty partner for a growing list of brands that include Lanvin, Montblanc, Jimmy Choo, Boucheron, Van Cleef & Arpels, Karl Lagerfeld, Paul Smith, S.T. Dupont, Balmain, Repetto, Agent Provocateur, Alfred Dunhill, Anna Sui, Shanghai Tang, Gap, Banana Republic, Brooks Brothers, bebe, Betsey Johnson and Nine West. Inter Parfums is known for innovation, quality and its ability to capture the genetic code of each brand in the products it develops, manufactures and distributes in over 100 countries worldwide.