Sales by European based operations rose 12.0% to $123.4 million from $110.1 million; at comparable foreign currency exchange rates, net sales increased 13.7%. Meanwhile, US-based operations generated net sales of $34.2 million, up 19.0%.
“We achieved good growth from both our European and US operations during the third quarter,” said Jean Madar, chairman and CEO of Inter Parfums, Inc. “For our European operations, sales of our first Coach scent for women exceeded expectations, generating $13.8 million in incremental sales.”
Madar said that Montblanc, its largest brand, performed “exceptionally well, generating sales of $32.9 million, an 11% increase compared with last year’s third quarter with most of the credit going to the enduring popularity of the Legend fragrance family.”
Inter Parfums said Rochas fragrance sales more than doubled to $7.0 million from last year’s third quarter thanks to the loyal following of the brand’s two legacy fragrances, Eau de Rochas and Rochas Man in Spain and France. Van Cleef & Arpels Collection Extraordinaire also contributed to our top line growth as did the Lanvin’s Modern Princess line, which was in limited distribution in France during the third quarter, said the firm.
“Both new and established brands contributed to the 19% sales increase by our U.S. based operations,” said Madar. “The new Abercrombie & Fitch men’s scent, First Instinct, and the Hollister fragrance duo, Wave, have been a great success so far, and with broader geographic distribution and brand extensions, we look forward to building these brands into important fragrance franchises.
As previously reported, Dunhill has been a consistent growth driver, due in great part to the strength of the brand’s expanding Icon fragrance family.”
Madar noted that while “year-to-date, our three largest markets Western Europe, North America and Asia, have performed quite nicely…. we continued to feel the effect of negative market conditions in Eastern Europe, the Middle East and China.”