Discussing US-based operations Jean Madar, chairman and CEO of Inter Parfums, said “The 13.7% decline in first quarter sales is best understood in the context of difficult comparisons with the prior year’s first quarter, when Extraordinary by Oscar de la Renta and Icon by Dunhill were launched. With our first ever fragrance launches for Abercrombie & Fitch and Hollister, along with several other new product introductions within our US operations brand portfolio, we expect better quarterly comparisons later in the year.”
On what’s going on with European operations Madar noted, “The Montblanc brand, our largest, started the year with exceptional sales of $35.0 million, up 29% in dollars and 32% in local currency, compared to last year's first quarter. The promising launch of Montblanc Legend Spirit was an important contributor to brand sales, and we expect this new men’s scent to be a growth pillar for the Montblanc brand.
“Our second largest brand, Jimmy Choo, achieved first quarter brand sales of $21.4 million, down 1% in dollars and up 1% in local currency from the same period last year, with both periods aided by recent launches. While the current first quarter benefitted from the continuing rollout of the Jimmy Choo Illicit line, the 2015 first quarter reflected strong sales of the recent introductions of Jimmy Choo Man line and the Jimmy Choo Blossom line.
“Lanvin fragrances sales contracted to $12.2 million, or 25%, due primarily to the economic slowdowns in its two flagship markets of Russia and China. We hope to counter this trend with the upcoming launch of a new Lanvin women's line in the fall. Rochas fragrances had nearly $6.4 million in incremental sales, primarily due to sales in the brand’s foundational markets of Spain and France, largely based on the Eau de Rochas and Rochas Man lines.”
Guidance for 2016 calls for net sales in the range of $500 million to $510 million.