07.25.16
Inter Parfums, Inc. posted a jump in business for three months ended June 30, 2016. net sales increased 14.8% to $117.2 million. According to Executive Vice President & Chief Financial Officer Russell Greenberg, the company is on track to achieve 2016 net sales of between $500 million to $510 million.
On the subject of stateside operations, Jean Madar, Chairman & CEO of Inter Parfums, stated, “International distribution of our first new Abercrombie & Fitch men’s scent, First Instinct, and the Hollister duo, Wave, were major contributors to our top line growth. In the second half, distribution of these new scents will continue to roll out to additional International markets. Dunhill has been a consistent top performing brand and this reporting period is no exception, with comparable quarter sales up 23%, which was achieved in the absence of a new product launch.”
The growth in sales reflects the exceptional performance of Montblanc and Jimmy Choo fragrances and the successful integration of Rochas fragrances, acquired in 2015, added Madar. He said, “Contributing to the 32% second quarter increase in Montblanc brand sales was the very promising launch of the Legend Spirit line and the continued popularity of the original Legend line. Jimmy Choo fragrance sales rose 43%, due in great part to the ongoing rollout of Illicit, our third women's line which debuted last year and the steady performance of the Jimmy Choo Man line. Rochas fragrance sales have been strong in Spain and France, the brand’s most established markets, thanks to legacy scents, Eau de Rochas and Rochas Man. Of our larger brands, only Lanvin fragrance sales declined due primarily to the economic slowdown in its two flagship markets, Russia and China. With the fall launch of a new Lanvin scent, we are looking to revitalize brand sales.”
Upcoming launches include the first-ever Coach scent. In mid-September it will enter 3,000 US doors and should be available in 20,000 doors worldwide by the end of 2017.
On the subject of stateside operations, Jean Madar, Chairman & CEO of Inter Parfums, stated, “International distribution of our first new Abercrombie & Fitch men’s scent, First Instinct, and the Hollister duo, Wave, were major contributors to our top line growth. In the second half, distribution of these new scents will continue to roll out to additional International markets. Dunhill has been a consistent top performing brand and this reporting period is no exception, with comparable quarter sales up 23%, which was achieved in the absence of a new product launch.”
The growth in sales reflects the exceptional performance of Montblanc and Jimmy Choo fragrances and the successful integration of Rochas fragrances, acquired in 2015, added Madar. He said, “Contributing to the 32% second quarter increase in Montblanc brand sales was the very promising launch of the Legend Spirit line and the continued popularity of the original Legend line. Jimmy Choo fragrance sales rose 43%, due in great part to the ongoing rollout of Illicit, our third women's line which debuted last year and the steady performance of the Jimmy Choo Man line. Rochas fragrance sales have been strong in Spain and France, the brand’s most established markets, thanks to legacy scents, Eau de Rochas and Rochas Man. Of our larger brands, only Lanvin fragrance sales declined due primarily to the economic slowdown in its two flagship markets, Russia and China. With the fall launch of a new Lanvin scent, we are looking to revitalize brand sales.”
Upcoming launches include the first-ever Coach scent. In mid-September it will enter 3,000 US doors and should be available in 20,000 doors worldwide by the end of 2017.