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Inter Parfums Sales Up in Q3 2010
Posted: October 27, 2010
Inter Parfums, Inc. (New York) announced net sales for the third quarter of 2010 reached $120.9 million, a 2.8% increase from $117.5 million in the third quarter of 2009. At comparable foreign currency exchange rates, net sales for the third quarter were up 12.9%. Thus, net sales for the first nine months of 2010 increased 17.3% to a record $348.0 million from $296.6 million in the same period last year.
“The strong performance we achieved in the first half of the year has continued into the second half," said Jean Madar, chairman and CEO, Inter Parfums. "Burberry fragrance sales were up 18% year-to-date in local currency. The global rollout of Burberry Sport fragrances was an important contributor, as were the growing sales of the enduring classic Burberry scents and the newer ones like Burberry Brit and Burberry The Beat. Through the first nine months of 2010, Lanvin fragrance sales were up 31% in local currency thanks to both established fragrances like Eclat d’Arpège and Jeanne Lanvin and the launch of the Marry Me line. Van Cleef & Arpels brand sales rose 33% year-to-date, in great part due to the spring launch of Oriens for women and the fall launch of Midnight in Paris for men. Additionally, third quarter and year-to-date sales included small contributions from the select distribution of the Burberry Beauty makeup collection and the integration of the Montblanc fragrance business.”
“We are once again raising our guidance for 2010, based upon our year-to-date results and expectations for the final quarter of 2010," said Russell Greenberg, executive vice president & CFO, Inter Parfums. "We expect 2010 results to set a new record with net sales of approximately $455 million and net income attributable to Inter Parfums, Inc. reaching $25.5 million.”