Burberry To Buy Back Fragrance License

Jean Madar, chairman and CEO of Inter Parfums, commented: “Given our many strengths, we are confident in our outlook as we enter a new phase in our history. Based on current growth rates for all of our portfolio’s brands, our preliminary full-year sales target for 2013 may reach approximately $400 million at current exchange rates.”

Russell Greenberg, executive vice president and CFO, added: “With only limited reorganization measures needed, our business model will continue to demonstrate its effectiveness. This new situation will allow us to strengthen investments supporting all of our portfolio’s brands to accelerate their development while maintaining an operating margin of more than 10%. Opportunities for external growth will be examined without urgency, with the priority of maintaining the quality and homogeneous nature of our portfolio.”