Christine Esposito, Managing Editor01.25.21
Call it a silver lining. Inter Parfums, Inc. announced that for the three months ended December 31, 2020, net sales were $184.0 million or 3.5% ahead of $177.8 million the company recorded in the final quarter of 2019.
At comparable foreign currency exchange rates, consolidated fourth quarter net sales were practically unchanged from those of 2019.
For the full year, net sales declined 24.5% to $539.0 million from 2019’s record sales of $713.5 million. At comparable foreign currency exchange rates, consolidated 2020 net sales declined 25.6%.
Sales in the final quarter far exceeded expectations and were in fact, better than our third quarter, historically our strongest,” said Jean Madar, chairman and CEO of Inter Parfums.
According to Madar, several of the company’s largest brands closed the year with "impressive" numbers. Montblanc, Jimmy Choo, Coach and Anna Sui grew fourth quarter sales by 9.8%, 13.4%, 18.0% and 62.3%, respectively, from the 2019 fourth quarter, he said.
With the exception of Coach Dreams, which was introduced in early 2020, and the initial rollout of Anna Sui Sky in China and Hong Kong toward the end of last year, Inter Parfums postponed most of its planned 2020 new product launches. It plans to release them this year.
“Our 2021 new product pipeline is abundant, with new entrants for our European operations that include women’s scents for the Jimmy Choo, Kate Spade, Lanvin and Rochas brands,” noted Madar.
For the US, Inter Parfums has fragrance duos unveiling for the Abercrombie & Fitch and Hollister brands, and women’s scents debuting for the Anna Sui, GUESS, MCM, and Oscar de la Renta brands. Broader distribution of Anna Sui Sky throughout Asia is also planned.
Inter Parfums, which as ranked No. 21 in Happi's Top 50 Report, said it plans to issue full results for the 2020 fourth quarter and full year on or about Monday, March 1.
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At comparable foreign currency exchange rates, consolidated fourth quarter net sales were practically unchanged from those of 2019.
For the full year, net sales declined 24.5% to $539.0 million from 2019’s record sales of $713.5 million. At comparable foreign currency exchange rates, consolidated 2020 net sales declined 25.6%.
Sales in the final quarter far exceeded expectations and were in fact, better than our third quarter, historically our strongest,” said Jean Madar, chairman and CEO of Inter Parfums.
According to Madar, several of the company’s largest brands closed the year with "impressive" numbers. Montblanc, Jimmy Choo, Coach and Anna Sui grew fourth quarter sales by 9.8%, 13.4%, 18.0% and 62.3%, respectively, from the 2019 fourth quarter, he said.
With the exception of Coach Dreams, which was introduced in early 2020, and the initial rollout of Anna Sui Sky in China and Hong Kong toward the end of last year, Inter Parfums postponed most of its planned 2020 new product launches. It plans to release them this year.
“Our 2021 new product pipeline is abundant, with new entrants for our European operations that include women’s scents for the Jimmy Choo, Kate Spade, Lanvin and Rochas brands,” noted Madar.
For the US, Inter Parfums has fragrance duos unveiling for the Abercrombie & Fitch and Hollister brands, and women’s scents debuting for the Anna Sui, GUESS, MCM, and Oscar de la Renta brands. Broader distribution of Anna Sui Sky throughout Asia is also planned.
Inter Parfums, which as ranked No. 21 in Happi's Top 50 Report, said it plans to issue full results for the 2020 fourth quarter and full year on or about Monday, March 1.
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