Inter Parfums Reports Q4 Results

For three months ended Dec. 31, 2013, net sales of the Inter Parfum’s ongoing brands (excluding Burberry brand sales) increased 19% to $105.5 million, as compared to $88.8 million for the corresponding period of the prior year. However, consolidated 2013 fourth quarter net sales declined 40% when Burberry sales are included in the prior year period. At comparable foreign currency exchange rates, consolidated fourth quarter net sales also declined 40%, the company said.
 
Total net sales for 2013 (excluding Burberry) increased nearly 23% to $433.0 million from 2012’s $352.7 million.
 
The fragrance house plans to issue results for the 2013 fourth quarter and full year on or about March 11.
 
“The year closed on a very strong note as our ongoing brands delivered robust growth of 21% in the fourth quarter. For the final quarter of 2013, Montblanc brand sales rose more than 42% driven by the exceptional success of Legend fragrances. Jimmy Choo sales rose 11%, propelled by strong demand for the brand’s signature fragrance, as well as Flash,a new women’s scent launched early in the year,” said Jean Madar, Chairman and CEO of Inter Parfums said in discussing European operations.
 
According to Madar, Lanvin sales remained on a “growth trajectory reflecting the spring 2013 launch of Lanvin Me and the ongoing appeal of  Eclat d’Arpége,after more than a decade on the market. “
 
Madar said the performances of the Repetto signature scent introduced in May and Place Vendôme from Boucheron launched in the fall “exceeded our expectations.”
 
Mr. Madar further noted, “Our U.S.-based operations continue to become a more significant portion of our overall sales as we are enlarging our portfolio of brands, expanding distribution of the brands, and adding value to existing brands with new scents. During the fourth quarter, in the absence of major launches for US.-based products, we achieved 11% sales growth. The increase was due to a number of factors, including the successful rollout of La Vie de Boheme by Anna Sui in the fall, taking over Alfred Dunhill legacy fragrances in April and Agent Provocateur legacy scents in the fall, as well as from the third quarter launch of new scents for Banana Republic and bebe.”
 
 “We are very enthusiastic about 2014 which is shaping up to be one our largest new product launch years in our history on both sides of the Atlantic with new scents rolling out for Balmain, Karl Lagerfeld, Jimmy Choo, Montblanc, S.T. Dupont, Alfred Dunhill, Shanghai Tang and Agent Provocateur,” Madar concluded.