Happi Staff03.03.20
Inter Parfums Inc. has reported results for the fourth quarter and year ended December 31, 2019. For the fourth quarter 2019 compared to fourth quarter 2018, net sales were $177.8 million, up 0.3% from $177.2 million. Net sales by European based operations decreased 4.2% to $129.1 million from $134.8 million. Net sales by US based operations were $48.7 million, up 14.7% compared to $42.4 million.
For the year as a whole, net sales increased 5.6% to $713.5 million from $675.6 million in 2018. At comparable foreign currency exchange rates, net sales increased 7.8%. Net income attributable to Inter Parfums Inc. increased 12.0% to $60.2 million from 2018’s $53.8 million.
Jean Madar, chairman & CEO of Inter Parfums stated, “In nearly every region in which we operate, we achieved top line growth in 2019, with sales in North America, our largest market, up 11.4%. Our second largest market, Western Europe, achieved sales growth of 2.6%, while in Eastern Europe, net sales rose 4.7%. The biggest percentage gainer was the Middle East where sales surged 22.4% over the previous year. Sales in Asia, our third largest market, were down nominally in actual dollars, but ahead in constant dollars, which we consider quite respectable in light of trade tariffs on goods coming in and out of China from the United States. Our smallest market, Central and South America, underperformed in 2019, not surprisingly in light of the region’s political, economic and social turmoil.”
Looking Forward to 2020
Inter Parfums is launching several new fragrances in 2020, most notably Coach Dreams, a new women’s fragrance family for the brand and L’Homme Rochas. There are also plans to launch new fragrances for Montblanc, Kate Spade New York, Jimmy Choo, Guess, Hollister, Anna Sui and Graff throughout the year.
For the year as a whole, net sales increased 5.6% to $713.5 million from $675.6 million in 2018. At comparable foreign currency exchange rates, net sales increased 7.8%. Net income attributable to Inter Parfums Inc. increased 12.0% to $60.2 million from 2018’s $53.8 million.
Jean Madar, chairman & CEO of Inter Parfums stated, “In nearly every region in which we operate, we achieved top line growth in 2019, with sales in North America, our largest market, up 11.4%. Our second largest market, Western Europe, achieved sales growth of 2.6%, while in Eastern Europe, net sales rose 4.7%. The biggest percentage gainer was the Middle East where sales surged 22.4% over the previous year. Sales in Asia, our third largest market, were down nominally in actual dollars, but ahead in constant dollars, which we consider quite respectable in light of trade tariffs on goods coming in and out of China from the United States. Our smallest market, Central and South America, underperformed in 2019, not surprisingly in light of the region’s political, economic and social turmoil.”
Looking Forward to 2020
Inter Parfums is launching several new fragrances in 2020, most notably Coach Dreams, a new women’s fragrance family for the brand and L’Homme Rochas. There are also plans to launch new fragrances for Montblanc, Kate Spade New York, Jimmy Choo, Guess, Hollister, Anna Sui and Graff throughout the year.
