The third quarter of 2012 was dim for Inter Parfums, but brighter for the nine months ended Sept. 30, 2012. The company reported that net sales for the third quarter of 2012 fell 3% to $166.3 million.
However, for the nine months ended Sept 30, 2012, sales rose 12% to $477.2 million.
Discussing European-based operations Jean Madar, chairman and CEO of Inter Parfums, noted, “Many of the brands in our portfolio performed extremely well during the third quarter. Third quarter sales of Lanvin fragrances rose 12% with continuing gains by the Eclat d’Arpège line and the launch of the Jeanne Lanvin Couture line. Montblanc fragrance sales were 67% ahead of last year’s third quarter due, in great part, to the continued success of the men’s line, Legend. Jimmy Choo fragrances also showed robust gains, up 44% versus last year’s third quarter based upon the signature scent that launched in 2011.”
He continued, “Through the first nine months, Burberry brand sales are running over 10% ahead of the same period last year. S.T. Dupont fragrance sales achieved a nearly 30% year-to-date sales gain. Also, Boucheron has become a meaningful contributor this year with the gradual re-release of the brand’s fragrance collections along with our first initiative, Jaipur Bracelet.”
Discussing year-to-date prestige sales by region, Madar noted, “Top line growth has been especially strong in North America where sales are running 38% ahead. Growth continued in the Middle East, spurred by Saudi Arabia, resulting in a more than 30% increase in sales. Russia drove sales in Eastern Europe producing a greater than 30% improvement in this region. Asia and South America achieved sales growth of 16% and 17%, respectively. Despite weaker consumer spending in selected countries in Western Europe, sales through the first nine months of this year were 6% ahead of the same period last year.”
On the subject of US-based operations, Madar said, “As was the case in the first half, the third quarter benefited from the inclusion of Anna Sui fragrance sales, international distribution of US specialty retail brands, and fragrance launches for namesake stores earlier in the year.”
According to Russell Greenberg, executive vice president and CFO, the company affirms its 2012 guidance of $632 million in sales and approximately $35.9 million in net income attributable to Inter Parfums, Inc. Upcoming launches for the company include Jimmy Choo, Lanvin, Van Cleef & Arpels, Boucheron and its first Repetto fragrance in July for European-based operations, plus new product launches for the Anna Sui and Bebe brands for US-based operations in the coming year.
In other news, famed fashion designer Karl Lagerfeld has inked a fragrance deal with Inter Parfums SA, following the mutual termination of Lagerfeld’s contract with Coty Inc.
Inter Parfums signed a 20-year contract with Karl Lagerfeld B.V., and expects to introduce its first fragrance in late 2014.