• Inter Parfums, Inc. released its initial guidance for 2013, which calls for net sales of approximately $460.0 million and net income attributable to Inter Parfums, Inc. of approximately $26.4 million. The guidance assumes the dollar remains at current levels.
According to Jean Madar, chairman and CEO, growth is expected from the continued strong sell-through of legacy fragrances for Inter Parfums’ largest brands, including Lanvin, Jimmy Choo and Montblanc. The year will also be one of Inter Parfums most ambitious for new product introductions with new women’s fragrance lines planned for Jimmy Choo, Lanvin and Van Cleef & Arpels. In addition, new fall 2013 initiatives are under development for the Boucheron, Balmain, Paul Smith, Repetto, Anna Sui and bebe brands.
Madar estimated that Inter Parfums entered the new year with cash, cash equivalents and short-term investments of approximately $250 million.