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Strong brand portfolio gets credit for surge.
August 10, 2010
By: TOM BRANNA
Editor
Inter Parfums Inc., New York, reported second-quarter profits jumped 26.7% to of $5.4 million, beating consensus estimates by 1 cent.
Sales for the quarter ended June 30 reached $107.8 million, a 21.6 percent increase from a year ago. The firm attributed the results to “the strength of [its] existing brand portfolio,” which is being expanded “with new, high-value brands.” Inter Parfums announced new specialty retail and licensing agreements with the Betsey Johnson and Nine West brands last month, noted Jean Madar, chairman and chief executive officer, who added: “Following the successful launch and global distribution of the Bebe signature fragrance that began [in] summer 2009, the second scent, Bebe Sheer, debuts this month.” For the first half, Inter Parfums’ net profit rose 23.3% to $11.9 million. Sales increased 26.9% to $227.1 million.
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