Fort Lauderdale, FL
Sales: $151 million
Sales: $151 million. Net loss: $4.2 million for the year ended March 31, 2009.
Key Personnel: Neil J. Katz, chairman and chief executive officer; Frank A. Buttacavoli, executive vice president and chief operating officer; Raymond J. Balsys, chief financial officer; Kathleen Galvin, vice president, marketing and advertising; Jane Hershey, vice president, information technology; Hedy Abromovitz, vice president, operations; Craig Ahlheim, vice president, domestic sales; Lesbia Roner-Hansen, vice president, international sales.
Major Products: Fragrances including Paris Hilton, Guess?, Jessica Simpson, Ocean Pacific, Andy Roddick, XOXO and BabyGund.
New Products: Paris Hilton Siren (July), Jessica Simpson Fancy Love (July), Nicole Miller Frenzy (July), Queen Latifah (July). To be launched: Josie Natori (August), Marc Ecko (Sept.), Rianna (summer 2010), Shawn “Jay-Z” Carter (summer 2011).
Comments: Sales declined less than 2% in the recently concluded fiscal year, but the company declared a net loss after posting a profit of $5 million the previous year.
Parlux Fragrances, Inc. is ranked among the top 50 volume fragrance and beauty companies worldwide, according to the company. Specializing in prestigious high-end consumer products, the company’s strategy is to build world-class luxury brands, increasing its presence and market share globally. High visibility in-house advertising campaigns, aggressive new product development, selective new licenses and business acquisitions and the full exploitation of existing brands through Parlux’s distribution network in more than 90 countries all significantly contribute to the company’s prosperity.
Sales of Paris Hilton brands accounted for 55% of sales, followed by Guess? (30%) and Jessica Simpson (13%).
Commenting on the recently concluded fiscal year, Neil Katz, chairman and chief executive officer, noted that a poor fourth quarter was a drag on results. However, the company invested heavily in building its U.S. department store business, which increased by 63% for the year.
This year, Parlux will launch fragrances under its Queen Latifah, Marc Ecko, Josie Natori and Nicole Miller licenses.