Inter Parfums recorded a net sales increase of 18.6% to $125.1m in Q4 2014, up from $105.5m in Q4 2013.
Net sales from ongoing brands (excluding Burberry) rose 15.3% to $499.3m from $433.1m in 2013. Montblanc, Lanvin and Jimmy Choo saw sales rise 14%, 23.9% and 49.6%, respectively. The launch of Jimmy Choo Man was said to drive sales, while the Karl Lagerfeld scents for men and women contributed $3.5m of incremental sales.
Jean Madar, Chairman & CEO of Inter Parfums, said: “The recent additions of Oscar de la Renta and Agent Provocateur to our US operations contributed to the 16.4% increase in fourth quarter sales. Oscar de la Renta brand sales were solely legacy scents, as the launch of our first fragrance for the brand, Extraordinary, is scheduled for later this spring. The introduction of Fatale and Fatale Pink in the second half of the year spurred Agent Provocateur sales. ”
Russell Greenberg, Executive Vice President & Chief Financial Officer, added: “Since announcing our 2015 guidance on November 17, 2014, the U.S. dollar has continued to strengthen vis à vis the Euro. While the outlook for our business remains strong and we have an ambitious new product launch schedule planned for 2015, currency valuation has forced us to reduce our 2015 sales guidance to approximately $480m from $500m. At the same time, the current foreign currency dynamic should have a positive impact on 2015 net income attributable to Inter Parfums. When we announce our 2014 fourth quarter and full year results in March 2015, we expect to revise the range for 2015 net income attributable to Inter Parfums upward from our previous guidance of $0.95 to $0.98 per diluted share.”
