Inter Parfums Reports First Quarter Sales Up 55%

Inter Parfums, Inc., New York, announced net sales for the first quarter were up 55.3% to $58.4 million, compared to $37.6 million in the first quarter of 2003. At comparable foreign currency exchange rates, net sales increased 40%.

Inter Parfums has raised its 2004 sales guidance to $222 million, which includes its recently acquired majority interest in men’s spa and skin care product line Nickel S.A., and is maintaining its net income guidance of $15.8 million, as Nickel is not expected to be accretive this year. In January, the company reported that it expected 2004 sales to be approximately $217 million.

Jean Madar, chairman and chief executive officer of Inter Parfums, stated, “The continued geographic rollouts of products launched in the fall of 2003 gave the first quarter of 2004 its significant sales boost. We have a strong new product line-up in the works for the second quarter including L’Eau de S.T. Dupont, Christian Lacroix Summer fragrance, Celine Sensual Summer and later in the year, we have Paul Smith London debuting. We are also looking forward to the launch in the fall of the Burberry Brit for men line in selected markets.”