07.02.14
New York, NY
212.983.2640
www.interparfumsinc.com
Sales: $563 million. Net income: $39 million.
Key Personnel: Jean Madar, chairman and chief executive officer; Philippe Benacin, president and vice chairman; Russell Greenberg, chief financial officer; Philippe Santi, executive vice president
Major Products: Fragrance and beauty products including Lanvin, Montblanc, Jimmy Choo, Boucheron, Van Cleef & Arpels, Karl Lagerfeld, Paul Smith, S.T. Dupont, Balmain, Repetto, Agent Provocateur, Alfred Dunhill, Anna Sui, Shanghai Tang, Oscar de la Renta, Gap, Banana Republic, Brooks Brothers, Bebe and Betsey Johnson.
New Products: Jimmy Choo Flash, Boucheron and Repetto Fragrances . To be launched: Shanghai Tang, Agent Provocateur and Oscar de la Renta scents.
Comments: When is a year in which your company’s sales drop 14% considered a good year? When your CEO says so! In his remarks to shareholders, chairman Jean Madar insisted that 2013 was “a very successful and exciting year.” That’s because he blamed the decline on Burberry’s decision to buy back its license. Excluding the Burberry debacle, net sales increased nearly 23% to $433 million. Prior to its departure, Burberry’s sales had topped $130 million in 2013. The brand had represented about 23% of InterParfums’ sales in 2013, down from 50% in 2011.
But even as it waved bye-bye to Burberry, InterParfums’ executives had plans to boost sales. They signed three brands last year in Shanghai Tang, Agent Provacateur and Oscar de la Renta. The first scent from Shangai Tang, a Chinese luxury brand, will roll out this fall. An Oscar de la Renta scent will debut in Spring 2015.
Fragrance launches aside, management intends to broaden it product offerings beyond fragrance and offer personal care products under its existing brands.
By region, Europe accounted for 38% of sales, followed by North America (27%), Asia (17%), and Middle East (8%) Central and South America (8%). European sales fell 19% to $464.3 million, but US product sales increased 21% to $99.3 million. Brands and products that provided a lift included the launch of Jimmy Choo Flash, which contributed to a 41% increase in brand sales, while sales of Montblanc Legend fragrances increasing 40%. Lanvin sales rose 11%. In the US, Anna Sui sales increased 29% and last year, Inter Parfums’ US operations took over the manufacture and distribution of Alfred Dunhill fragrances.
The loss of Burberry remains a drag on results in 2014. First quarter sales fell 43% to less than $122 million.
212.983.2640
www.interparfumsinc.com
Sales: $563 million. Net income: $39 million.
Key Personnel: Jean Madar, chairman and chief executive officer; Philippe Benacin, president and vice chairman; Russell Greenberg, chief financial officer; Philippe Santi, executive vice president
Major Products: Fragrance and beauty products including Lanvin, Montblanc, Jimmy Choo, Boucheron, Van Cleef & Arpels, Karl Lagerfeld, Paul Smith, S.T. Dupont, Balmain, Repetto, Agent Provocateur, Alfred Dunhill, Anna Sui, Shanghai Tang, Oscar de la Renta, Gap, Banana Republic, Brooks Brothers, Bebe and Betsey Johnson.
New Products: Jimmy Choo Flash, Boucheron and Repetto Fragrances . To be launched: Shanghai Tang, Agent Provocateur and Oscar de la Renta scents.
Comments: When is a year in which your company’s sales drop 14% considered a good year? When your CEO says so! In his remarks to shareholders, chairman Jean Madar insisted that 2013 was “a very successful and exciting year.” That’s because he blamed the decline on Burberry’s decision to buy back its license. Excluding the Burberry debacle, net sales increased nearly 23% to $433 million. Prior to its departure, Burberry’s sales had topped $130 million in 2013. The brand had represented about 23% of InterParfums’ sales in 2013, down from 50% in 2011.
But even as it waved bye-bye to Burberry, InterParfums’ executives had plans to boost sales. They signed three brands last year in Shanghai Tang, Agent Provacateur and Oscar de la Renta. The first scent from Shangai Tang, a Chinese luxury brand, will roll out this fall. An Oscar de la Renta scent will debut in Spring 2015.
Fragrance launches aside, management intends to broaden it product offerings beyond fragrance and offer personal care products under its existing brands.
By region, Europe accounted for 38% of sales, followed by North America (27%), Asia (17%), and Middle East (8%) Central and South America (8%). European sales fell 19% to $464.3 million, but US product sales increased 21% to $99.3 million. Brands and products that provided a lift included the launch of Jimmy Choo Flash, which contributed to a 41% increase in brand sales, while sales of Montblanc Legend fragrances increasing 40%. Lanvin sales rose 11%. In the US, Anna Sui sales increased 29% and last year, Inter Parfums’ US operations took over the manufacture and distribution of Alfred Dunhill fragrances.
The loss of Burberry remains a drag on results in 2014. First quarter sales fell 43% to less than $122 million.
