Q1 Sales Rise 2% for Inter Parfums, Inc.

Inter Parfums, Inc. said net sales for the first quarter ended March 31, 2016 rose 2% to $111.5 million. At comparable foreign currency exchange rates, net sales increased 3%, the company said.

Sales by European-based operations rose 5% to $92.1 million and sales by US-based operations declined 14% to $19.4 million compared to $22.5 million.

“The top line growth in the first quarter was largely due to the extraordinary success of the Montblanc brand and the $6.4 million in incremental sales from the Rochas brand,”said Jean Madar, chairman and CEO. “As we reported last month, the launch of Legend Spirit was an important growth catalyst for the Montblanc brand, which achieved sales of $35.0 million, up 29% in dollars and 32% in local currency, compared to last year's first quarter. Jimmy Choo brand sales of $21.4 million were on par with last year’s first quarter as both periods benefitted from recent product launches and rollouts, namely 2016’s Jimmy Choo Illicit and 2015’s Jimmy Choo Man and Jimmy Choo Blossom. The weakened economies in Russia and China, two key markets for the Lanvin brand, depressed comparable quarter fragrance sales by 25% to $12.2 million. We hope to counter this trend with new flankers and seasonal scents debuting this year, as well as a new Lanvin women’s line planned for early next year. In addition to new fragrances for the Van Cleef & Arpels brand, we are extremely enthusiastic about our first ever women’s scent under the Coach brand coming to market this summer.”